2022 started aggressively. Weekly increases in average asking net rents are the norm as demand for industrial space continues to outpace supply. The availability rate dropped to 1.2% as new supply kept being absorbed during pre-leasing.
- Net rental rates rose sharply to $11.71 per square foot, totalling a year-over-year increase of 48%.
- The South Shore continues to be the location of choice by developers as areas like Beauharnois and St-Bruno-de-Montarville have enough land to scale large builds.
- Investor confidence remains strong with the total sales volume reaching $752 million, equalling the record set by Q1 2021.
