Research

Canada industrial insights

Over 18 million s.f. of deliveries in Q4 brings more options to industrial users.

January 24, 2024
Contributors:
  • 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.

Request insights by city below -

Toronto industrial insight

Vacancy reached its highest rate since 2018, signaling a move towards balanced conditions.     
Request report >

Calgary industrial insight

Vacancy rises on strong construction completions but user growth remains strong.     
Request report >

Montreal industrial insight

Market equilibrium reached as landlord-favorable fundamentals soften. 
Request report >

Vancouver industrial insight

Average asking rates decline for the second consecutive quarter and vacancy reaches 2.0% for the first time since Q4 2020.     
Request report >

Winnipeg industrial insight

Vacancy increases as the market shifts to balanced conditions. 
Request report >

Southwest Ontario industrial insight

Vacancy climbs to 2% as 1.69M sq. ft. of new construction is delivered to the market.     
Request report >

Ottawa industrial insight

Vacancy inches upward as speculative construction projects complete.     
Request report >

Edmonton industrial insight

Speculative deliveries edge vacancy up but user demand remains resilient.     
Request report >

Saskatchewan industrial insight

Saskatchewan's Industrial Market Demonstrates Resilience.     
Request report >