Greater Toronto Area Industrial Market Report (Q1 2022)
The Greater Toronto Area (GTA) industrial market remains a hotbed of activity, as strong momentum from 2021 carried forward into the first quarter of 2022, led by high demand and limited supply. New building completions during the quarter did not influence the availability rate, as 91% of the new space was leased prior to completion. Current market conditions favour landlords, and rental rates continue to rise rapidly.