Vacancy is down to 2.3% across all submarkets; this is incidentally the lowest vacancy rate recorded in seven years when Colliers reported a vacancy rate of 1.9% in Q1 2014.
- We can look forward to owner-occupier developments such as the Cargill canola crushing plant announced in August, set to take up residence at the Global Transportation Hub. There is new construction underway in Ross Industrial Park, Pasqua Business Park and Parker Industrial Park. All of these are owner-occupier buildings.
- The pandemic has been a challenge to many parts of the economy. It’s clear, however, that industrial real estate is a success story thus far and should emerge unscathed.