Market fundamentals remain strong despite continued uncertainty

With consistently increasing interest rates and vague fear of a recession on the horizon, the industrial sector in Toronto is remaining relatively resilient. With regularly rising asking rates and 19.5% year-on-year growth alongside low vacancy, the market remains very tight and landlord favored. Industries like logistics and e-commerce are seeing continued growth, and Toronto remains a desirable market for these businesses to be located. A slight slowdown is likely to come soon, but that may help open up the otherwise prohibitively expensive market to smaller businesses.

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