Greater Toronto Area (GTA) vacancy hits historic low, demand continues to outpace supply.

Net asking rental rates rose for another quarter with vacancy rates hitting historic lows in the GTA. The intense competition, rapid pace of transactions, and lack of options that plagued tenants in past quarters, continues to drive the narrative in the industrial market. Expectations in the short-to-midterm remain unchanged as new supply, although substantial in size, is unable to keep up with demand and a portion of increasing construction and labour costs are passed on to tenants in the form of increasing rental rates.

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