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Overall available space throughout Canada’s industrial markets is on the rise as demand softens and the tail end of new supply is delivered into various markets. Asking rental rates are counter-intuitively lagging the cycle, and have held at an average of $6.10 during the first quarter of 2009. Average asking rates were supported by Canada’s western cities where the downturn has hit slightly later, and markets are coming out of a period of very high demand as supply struggles to keep pace. Canada’s western cities all currently sit with vacancy rates at or below 4.5% - still a landlord favoured position - tempered by the economic outlook and demand projections. In comparison, Canada’s eastern markets such as Toronto and Montreal have availability rates north of 6.4%, progressing upward.
Contact Ian MacCulloch at 416.643.3708 for more information.
  Q109_Canadian Snapshot - Industrial.pdf
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