Montreal industrial market report

Q4 2022

End of quarter pointing to early signs of stabilization

The Greater Montreal industrial market has performed extremely well again throughout 2022. Leasing and development activity have remained strong, keeping vacancy rates tight and absorption positive. However, the factors that drove the strong demand for industrial buildings have shifted over the past year, namely the economic slowdown expected in 2023.


Vacancy rate

The overall industrial vacancy rate in the Greater Montreal area remained stable throughout 2022. Top quality industrial space and development sites remain scarce especially in central areas, pushing occupiers to secondary and even tertiary markets.

6.5 MSF

New Supply

A record 6.5 M sf of new supply is currently underway, with healthy pre-leasing levels. In the current environment of high financing costs, spec development activity is slowing down.

$17 PSF

Rental Rates

Rental rates have risen by an average of 20% per year from 2017 to 2022. Rental rates will continue to adjust upward as many leases signed 5, 7 or 10 years ago have yet to reach their expiry date. Current trends for shorter agreements are paving the way for further adjustments to come.
Download highlights here

Your source for the latest Montreal industrial real estate reports

Stay on top of current trends affecting the industrial real estate sector in Montreal. Gain an overall better understanding of Montreal's industrial real estate market conditions, so you can better formulate strategies to overcome any obstacle and know how to best invest in industrial real estate in Montreal.

Here, you’ll always find the latest industrial real estate market news so you can stay ahead. Come back often to see expert insights on the current and future of Montreal's industrial real estate market.

Get the latest Montreal industrial market reports right in your inbox