All indicators point in a positive direction for 2021 as the demand for industrial space in Montreal continues to surge.
- Further rental rate growth was recorded in Montreal this quarter, climbing to $7.98 per square foot, representing a 14.5% increase year-over-year.
- As a result of the competitive state of the rental market, some landlords are receiving multiple offers on their listings and are able to negotiate rates well above asking as users become more and more desperate for space.
- Several significant industrial transactions took place this quarter, such as Dream REIT’s acquisition of 401 Marie-Curie in Vaudreuil for $216.00 per square foot, coming in at a total price of just over $114 million.
