Upward rental rate growth and low vacancy trends remain undeterred despite impacts of COVID-19 on leasing activity.

The COVID-19 pandemic and the resulting declaration of a State of Emergency in Ontario in mid-March introduced a substantial amount of uncertainty across all real estate asset classes. Thus far, the industrial asset class has displayed the greatest strength. A significant excess of tenant demand prior to COVID-19 and the ability of businesses occupying industrial facilities to remain operational as essential services, have provided support for the industrial market.

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