- The GTA’s availability rate decreased to 1.4% in Q3 2018, declining by 94 basis points YoY, reaching historically low levels yet again.
- Strong tenant demand has pushed rental rates in the GTA to $6.85 per square foot (+10.0% YoY), with the GTA East growing the most at 21.0% YoY from an average asking rent of $5.12 to $6.19 per square foot.
- The GTA had a net new supply of 277,307 square feet in the third quarter, with almost all of it coming from Mississauga.
- The largest leasing transaction of Q3 was the Amazon lease of a planned speculative property on Coleraine Drive in Caledon for over one million square feet.
- The 2018 Q3 average price per square foot of an industrial investment transaction in the GTA was $149.41 per square foot, a decrease of less than one dollar when compared to the same period one year ago.