Demand strong, rental rates rise as vacancy remains low in the Greater Toronto Area (GTA)

Despite an uncertain macroeconomic environment, Q2 2022 closed as it began, with historically low vacancy rates and increasing net asking rental rates in the GTA. New construction projects continue to progress, while not yet providing upward pressure on vacancy rates and tenants looking for space continued to encounter limited options. Expectations for the industrial leasing market in the short-to-midterm remain unchanged with net rental rates expected to continue moving higher for both new construction and existing space. Forecasts for the industrial sales market are characterized by uncertainty, as buyers assess the realities of rapidly rising interest in excess of cap rates that have yet to materially adjust.

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