GTA Industrial Market Report Q3 2018

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Key Trends 

  • 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.

Toronto Industrial

GTA Industrial Market Report Q3 2018

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For More Information, Please Contact:

Peter Garrigan

Managing Director, Industrial, Toronto Region

Toronto West

Peter is committed to accelerating the success of clients by leveraging market knowledge to forge new paths in the industrial Real Estate industry and create connections between landlords and investors and landlords and tenants.  Peter focuses on maximizing value and minimizing risk by developing unique solutions to achieve clients’ real estate goals.

Peter has maximized returns and minimized risk for many large landlords by effectively targeting and securing key tenants.  His strong personable character has enabled him to develop a network of business owners/tenants within the GTA.

Peter’s ability to create relationships with key tenants and landlords has produced many opportunities for his clients.

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Leo Lee

Regional Director - Research Eastern Canada

Toronto West

Leo is the Regional Director of Research for Eastern Canada and oversees the delivery of Colliers research reports and consultancy services. He plays a key role in the senior leadership and operation of the research business in Canada.  

He joined Colliers International in 2008, most recently as the Research Manager in New Zealand. He draws on his professional experience as a commercial appraiser and real estate consultant to provide valuable market insights and strategic advice for clients and professionals across the Colliers service lines.    

He is committed to addressing the needs of clients who are making real estate decisions by providing business intelligence solutions through leveraging the use of data and technology using Colliers’ platforms.

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