The Halifax industrial market experienced a substantial drop in vacancy from the previous quarter, decreasing 260 basis points to 6.3%.
- Substantial leasing activity occurred in all three submarkets with a total of 145,436 square feet coming off the market.
- Lowest recorded vacancy rate for the industrial market in over seven years, finishing the year off very strong.
- 143, 290 square foot building at 115 Chain Lake Drive was sold this quarter for $13,250,000 to JD Irving, having a dramatic effect on the vacancy rate, dropping it by 14% from 22.9% to 8.9%.
