11:34 AM Jul 5, 2023
The former continues to hold the tightest industrial market in Canada, with availability falling 60 bps to 0.7%, while the latter lands on the other end of the scale, with an unchanged availability rate of 5.4%.The national increase in availability was due to significant levels of new supply being delivered over the last several quarters; in Q2, 8.8 million sq. ft of industrial space was delivered to market.
Activity was led by Toronto and Edmonton, with both markets seeing strong levels of new supply delivered. The cities saw total positive net absorption of 2.1 million sq. ft and 1.3 million sq. ft, respectively.
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