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Research

Halifax Industrial Market Report Q2 2019

Halifax Industrial Market Report Q2 2019

Halifax Industrial Market Report Q2 2019
The Halifax industrial market continues to have a shortage of new supply relative to Canada’s other major markets. In particular, larger size requirements within Burnside have proven to be a challenge to source recently. As more companies choose to expand east, rental rates are expected to rise in the coming years. 

  • The overall industrial vacancy rate declined by 150 basis points quarter-over-quarter to 10.1%. Burnside Business Park was the largest contributor of this decline recording an impressive 105,788 square feet of positive net absorption for Q2 2019. 
  • KingSett Capital Inc. acquired assets totaling 2.7 million square feet from Dream industrial REIT. The portfolio is set to change hands in Q3. 
  • 82,000 SF of new supply is expected to come online in Q3. The building is 80% pre-leased as of this quarter. 

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