Canada Industrial Figures Q2 2022
05 Jul 2022
‒ Canada’s national availability rate holds at record low of 1.6% despite 6.1 million sq. ft. of new supply delivered in Q2 2022.
‒ Despite minimal available space left in the market, leasing activity remained healthy in Q2 2022 with 7.2 million sq. ft. of positive net absorption.
‒ National construction levels grew to a new record high of 43.9 million sq. ft., but overall development still remains healthy, representing just 2.3% of total inventory.
‒ In response to the growing scarcity of large bay facilities, more than three-quarters of the development pipeline is currently for projects 200,000 sq. ft. or larger.
‒ Net rental rate growth in Canada continued to escalate, accelerating from last quarter’s record pace to a 24.2% year-over-year increase in Q2 2022.