Greater Toronto Area Industrial Market Dominates Q2
1 min read
2140 Meadowpine in Mississauga is part of a portfolio of GTA industrial properties acquired by LaSalle Investment Management and an unnamed partner.
The industrial real estate market in the Greater Toronto Area (GTA) is attracting record numbers, with no signs of slowing down anytime soon. Avison Young’s Q2 2022 Greater Toronto Area (GTA) industrial report solidifies the critical factor for these findings—high demand and limited supply.
A record-low 0.9 percent availability rate has intrigued many investors, as it continues to decline steadily from a high in 2010 of 7.1 percent. Pre-construction and proposed developments account for 1.7 percent of the GTA’s existing industrial stock, with pre-construction developments totalling 50 million square feet across 143 buildings.
The current market favours landlords and investors, as rental rates rise 11 percent to $15.09 per square foot, and average rents have risen 79 percent in the past three years and 135 percent in the past five.
Learn more about the GTA industrial market Q2 findings.
Reference
McLean, S. (2022, July 28). Acquisitions, deliveries, leasing: GTA Industrial remains hot in Q2: RENX - real estate news exchange. RENX. Retrieved August 9, 2022, from https://renx.ca/acquisitions-deliveries-leasing-gta-industrial-hot-q2-avison-young/
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