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Toronto Industrial Market Report Q1 2021

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research article

The GTA’s industrial market posted very strong fundamental indicators in the first quarter of 2021.

  • Both the vacancy and availability rates are at their lowest percentages since Q1 2020. Average asking net rent increased by $0.36 quarter-over-quarter. Three million square feet of absorption is the largest amount since Q4 2019.
  • This quarter was highlighted by a couple of acquisitions. In January, TransForce International announced that they acquired two divisions of UPS. In February, FastFrate Group announced that they acquired ASL Distribution Services.
  • E-commerce sales made up 12% of all Canadian retail activity in January 2021, doubling from 6% since January 2020. This continues to fuel demand for industrial space in the GTA, Canada’s largest population centre.


Toronto Industrial Market Report Q1 2021

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For More Information, Please Contact:

Peter Garrigan

Senior Managing Director, Industrial | Greater Toronto Area

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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Roelof van Dijk

Senior Director, National Research & Analytics | Canada

Toronto Downtown

As Senior Director, Research & Analytics | Canada, Roelof leads the strategy and operation of Colliers Canada Research, delivering market intelligence initiatives that give Colliers and its clients a competitive advantage. He focuses on developing a high-performance national research team that leverages Colliers’ best-in-class market intelligence to produce relevant insights on local and national market and industry trends that inform client decisions, address market needs and support Colliers’ growth strategies.

Roelof has 15 years of experience covering the Canadian commercial real estate market. Prior to his career in commercial real estate, he also worked as a project manager and urban planning consultant for residential developers across the Greater Toronto Area.

Roelof is regularly cited in national publications, such as The Globe & Mail, CBC News, Bloomberg, Reuters, Maclean’s Magazine and the National Post, as well as in local outlets across Canada.

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