Canada industrial insight

Vacancy rose in several key markets, but market conditions remained very tight

January 24, 2023
  • Chad Piche
  • Deborah Saunders
  • Marga Chan
  • Tristan Scott
  • William Schneider

National vacancy increased for the first time since Q2 2020 registering a 10 basis point increase to 1.5%. All markets, with the exception of Southwest Ontario, witnessed either stable or rising vacancy on the quarter. However, the market remains only 10 basis points above a historic low set last quarter.


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Toronto industrial insight

Industrial tenant activity remains robust despite an uncertain global economic climate.     
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Calgary industrial insight

Vacancy holds at 1.5% as demand remains stable, with supply constraints forecasted for 2023.     
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Montreal industrial insight

Rapidly rising interest rates stall sales activity and threaten future supply pipelines. 
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Vancouver industrial insight

Completions reach a cyclical high this quarter, with more deliveries expected in 2023.     
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Winnipeg industrial insight

Average net rents reach all-time high as vacancy rates remain suppressed. 
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Southwest Ontario industrial insight

Strong leasing demand sustained historically low vacancy to end 2022.     
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Ottawa industrial insight

Ottawa industrial demand remains strong despite a stormy economic outlook.     
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Edmonton industrial insight

2022 was a big year for new construction and 2023 is expected to be the same.     
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Saskatchewan industrial insight

Although the industrial market recorded an increase in vacancy, it remained below 3%.     
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