Industrial rental rates continue to rise across the Greater Toronto Area (GTA), however uncertainty of COVID-19 economic impact begins to cloud market forecasts.

Toronto’s recent history outlook of industrial market strength, categorized by historically-low vacancy rates and increasing rental rates was quickly upended in March, with the rapid emergence of COVID-19 and subsequent closure of non-essential businesses. The impact of COVID-19 on industrial market fundamentals will become clearer as the situation progresses but is currently unknown. However, it is expected that the industrial real estate market will experience less disruption relative to office and retail markets as increased E-commerce activity is likely to fill gaps, if any, arising from potential decreased manufacturing activity.

Read the full report