Canada Industrial Figures Q1 2022

‒ Available space remains scarce in Canada with the availability rate continuing its downward trend and falling 20 bps to a new record low of 1.6% in Q1 2022.

‒ The national asking net rental rate grew at its fastest pace on record, rising 17.4% year-over-year to a new record high of $11.20 per sq. ft.

‒ Absorption moderated slightly in Q1 2022, but still totaled an impressive 8.6 million sq. ft. with nearly every market recording positive net leasing activity.

‒ The construction pipeline surged to a new record high of 41.7 million sq. ft., but occupiers are quickly securing future space with 69.0% of the pipeline already pre-leased.