Canada industrial insights
Canada’s industrial market conditions shifted towards balance as vacancy continued to rise.
- Chad Piche
- Deborah Saunders
- Marga Chan
- Tristan Scott
- William Schneider
National vacancy increased for the 3rd consecutive quarter to 1.9% as historically strong demand continued to ease. Toronto, Montreal and Vancouver all witnessed the most significant bumps in vacancy and availability as the slowdown was most noticeable in the nation’s most expensive markets. Under construction space hit a fresh cyclical high of over 50 million s.f. Moderating demand and strong expected deliveries over the next 12 -15 months will create more balanced market conditions in the coming quarters.
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Toronto industrial insight
Declining pre-leasing activity served as a strong driver of demising flexibility among landlords.
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Calgary industrial insight
Calgary market remains active despite global economic headwinds.
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Montreal industrial insight
Montréal’s landlord-favorable market continued to lose momentum as economic concerns persist.
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Vancouver industrial insight
Vacancy surpassed the 1% mark for the first time since Q3 2021.
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Winnipeg industrial insight
New space delivered to the market expected to briefly raise vacancy levels.
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Southwest Ontario industrial insight
Industrial sector continued to perform despite economic headwinds.
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Ottawa industrial insight
Modest rise in vacancy expected but industrial fundamentals remained strong.
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Edmonton industrial insight
Vacancy edges up for the first time since 2020 but fundamentals remain strong.
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Saskatchewan industrial insight
Saskatchewan's Industrial Market Demonstrates Resilience.
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