The fourth quarter saw Montreal’s industrial market continue its momentum from the first half of 2021. Both vacancy and overall availability decreased further to all-time lows of 0.8% and 1.5%, respectively.
- Average asking net rental rates hit a new all-time high, sitting at $9.23 per square foot. The largest year-over-year (YoY) rental rate growths happened in the West Island and Laval at 29%.
- Quarterly absorption was 814,106 square feet, a 26% decrease from Q2 2021’s record-setting 1.1 million square feet absorption.
- Average investment sales prices reached $207 per square foot, a 31% increase YoY.
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