Canada industrial insights
Over 18 million s.f. of deliveries in Q4 brings more options to industrial users.
- Chad Piche
- Deborah Saunders
- Marga Chan
- Tristan Scott
- William Schneider
A large wave of new product delivered at the end of 2023 helping shift market conditions shift towards a balanced market. Nationally, vacancy has climbed 60 basis points in Q4 to reach 2.7%. That trend was mirrored locally with every single market registering a rise on the quarter. However, demand in most markets has remained steady as underlying fundamentals remain strong.
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Toronto industrial insight
Vacancy reached its highest rate since 2018, signaling a move towards balanced conditions.
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Calgary industrial insight
Vacancy rises on strong construction completions but user growth remains strong.
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Montreal industrial insight
Market equilibrium reached as landlord-favorable fundamentals soften.
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Vancouver industrial insight
Average asking rates decline for the second consecutive quarter and vacancy reaches 2.0% for the first time since Q4 2020.
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Winnipeg industrial insight
Vacancy increases as the market shifts to balanced conditions.
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Southwest Ontario industrial insight
Vacancy climbs to 2% as 1.69M sq. ft. of new construction is delivered to the market.
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Ottawa industrial insight
Vacancy inches upward as speculative construction projects complete.
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Edmonton industrial insight
Speculative deliveries edge vacancy up but user demand remains resilient.
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Saskatchewan industrial insight
Saskatchewan's Industrial Market Demonstrates Resilience.
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