Q1 2021 Industrial Market Report
The GTA industrial market maintained similar metrics from the previous quarter with overall market vacancy dropping to 0.6% and average net asking rent increasing by $0.29 to $10.37.
As the COVID-19 pandemic continues to drive demand for the logistics, e-commerce and supply-chain industries, there is almost no existing industrial space available on the market to fill this requirement, resulting in most new deals being completed for space that is either under construction or available off-market. With demand outpacing supply, Oshawa has grown to become an attractive location for organizations, with average net asking rates of $8.23, making this the most affordable market across the GTA.
Looking towards the summer months, tenants will be focused on Ontario’s vaccination roll-out as they look at making final decisions regarding their internal supply chain.
Read our Q1 2021 Market Report for more information.