Available industrial space in Toronto at historic low: NKFD

Posted : January 16, 2018

Strong demand in the warehousing and e-commerce sectors drove industrial space availability to a historic low of 2.7 per cent in the Greater Toronto Area late in 2017, according to a Newmark Knight Frank Devencore quarterly survey.

That’s down from 3.4 per cent in 2016’s third-quarter report.

The Q3 2017 survey, released Tuesday morning, also found the tight market is continuing to push rents higher. Across the GTA, average asking gross rents averaged $10.64 per square foot, up from $10.30 in the prior quarter.

“Large industrial spaces with modern amenities and features, including clear heights of at least 32 (feet) and the ability to handle 53-foot trailers are in extremely short supply,” said Sean Fiset, vice-president at NKF Devencore’s Toronto West office, in a statement summarizing the report. “In Mississauga and Brampton, which have the advantage of ready access to major transportation routes, this shortage is felt most strongly.”

Click Here to read more.

Available industrial space in Toronto at historic low: NKFD
linkedin
Stay in touch with our newsletter