- The Halifax industrial market experienced a decline in vacancy, decreasing to 9.3% in the third quarter of 2018 from 10.5% overall last quarter. Net absorption was positive overall ending this quarter at 95,756 square feet. This market has seen a large decline in vacancy year over year from 13.6% in 2017 to 9.3% in 2018 with overall absorption reaching 365,032 square feet for the year.
- Approximately 150,000 square feet of flex industrial space came online this quarter as the first two buildings in the Wilkinson Project and a development on Higney Avenue reached completion with 100,000 square feet pre-leased and occupied.
- Development in the Burnside Business Park remains active with construction of over 150,000 square feet of flex industrial space continuing on Trider Crescent that is expected to be complete in Q2 2019.
