The overall industrial vacancy rate declined by 150 basis points quarter-over-quarter to 10.1%. Burnside Business Park was the largest contributor of this decline recording an impressive 105,788 square feet of positive net absorption for Q2 2019.
The Halifax industrial market continues to have a shortage of new supply relative to Canada’s other major markets. In particular, larger size requirements within Burnside have proven to be a challenge to source recently. As more companies choose to expand east, rental rates are expected to rise in the coming years.
The Halifax industrial market continues to have a shortage of new supply relative to Canada’s other major markets. In particular, larger size requirements within Burnside have proven to be a challenge to source recently. As more companies choose to expand east, rental rates are expected to rise in the coming years.
