Industrial excitement sweeps Canada

Tenants and investors clamour for industrial space and drive availability to record

January 18, 2018 - 2017 has been a strong year for both office and industrial markets in Canada. Led by Montreal, Vancouver and Toronto, the Canadian office market experienced a five-year high annual net absorption of 6.3 million sq. ft. in 2017. The national office vacancy rate has remained relatively stable year-over-year, hovering around 13.0%. Toronto makes up almost half of the 10.9 million sq. ft. of office space under construction in Q4, with Vancouver and Montreal combined accounting for another 32.1% of the total construction.

The Canadian industrial market performed very well this year as the availability rate fell to a 16-year low of 4.1%. Toronto and Vancouver lead both Canada and the US with availability rates falling to historic lows of 2.2% and 2.3%, respectively. National annual absorption has reached a 10-year high of 23.6 million sq. ft. as demand continues to remain strong across a majority of Canadian markets, limited only by lack of available space.​

Click here to read the Canadian Q4 2017 Quarterly Statistics Report​​​​​​​​​​​​