Second quarter market statistics providing key market indicators for the Halifax industrial real estate market.
- The Halifax industrial market experienced a decline in vacancy, decreasing to 10.8% in the second quarter of 2018 from 11.3% overall last quarter. This market has seen a large decline in vacancy year over year from 15.4% in 2017 to 10.8% in 2018.
- Efficient, well connected and environmentally friendly buildings are in high demand. Four new multi-tenant projects are currently under construction in Burnside with completion estimated for Q2 2019.
- Sale activity in the Burnside Business Park increased this quarter with several warehouse buildings changing hands. These transactions included owner-occupied premises as well as multi-tenant buildings.