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Halifax Industrial Market Report Q1 2023

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research article

Demand for industrial space continues to be strong. While the vacancy rate did increase to 2.4% in Q1, this can be attributed to two newly built properties, which totaled over 140,000 square feet. With over 530,000 square feet of product currently under construction, and approximately 480,000 square feet expected to be completed by year-end, this should help maintain a certain degree of balance in the industrial market.

  • Industrial average asking net rental rates increased by 4% quarter-over-quarter and by 17% year-over-year. The current asking rate is $12.42 per square foot and is expected to continue to increase over the course of 2023.

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Halifax Industrial Market Report Q1 2023

Télécharger le rapport
Pour plus d’informations, veuillez contacter:

Greg Taylor

Vice President | Managing Director

Halifax

Greg has been involved in multiple aspects of commercial real estate over the past 15 years. He is part of the top investment brokerage team in Atlantic Canada. The creative and strategic approach the team brings to client engagements has resulted in many successful closings. In addition to his responsibilities in investment sales, Greg is the Vice President of Colliers International (Nova Scotia) Inc., and a shareholder in the company.
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