‒ After a year of record-breaking leasing activity, the national industrial availability rate fell below 2.0% for the first time and ended the year at 1.8%.

‒ Average asking net rental rates continue to rise, growing 10.9% year-over-year as rents push to new highs across most markets in Canada.

‒ Leasing activity continues to be strong and surged in Q4 2021 to 15.3 million sq. ft., bringing total annual net absorption to 51.0 million sq. ft. in 2021.

‒ Construction activity has increased to 36.2 million sq. ft. across Canada in response to tight market conditions, but still remain low relative to existing levels of inventory.