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Toronto Industrial Market Report Q4 2023

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research article

While the Greater Toronto Area industrial market has felt the effects of high interest rates and economic uncertainty, the backlog of high demand and limited space over the past few years has sheltered the market from significant downturn.

  • After a period of soaring growth since 2020, Q4 has brought about a slight decrease in net rent from $18.57 to $18.46; the market is expected to see moderate fluctuations around the current rental rate in the short-term with no notable growth or decline.
  • Availability rose to 2.5% this quarter, indicating that supply has somewhat caught up to demand as businesses are faced with complex inventory decisions and will be monitoring how rates will shift in the coming quarters.
  • Over 43 million square feet of new supply has been built since 2020 and the GTA has not seen a single quarter of negative absorption since, rather this new space has been necessary to create balance.

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Toronto Industrial Market Report Q4 2023

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Pour plus d’informations, veuillez contacter:

Peter Garrigan

Managing Director, Industrial Practice Group, Toronto Region

Toronto West

Peter is committed to accelerating the success of clients by leveraging market knowledge to forge new paths in the industrial Real Estate industry and create connections between landlords and investors and landlords and tenants.  Peter focuses on maximizing value and minimizing risk by developing unique solutions to achieve clients’ real estate goals.

Peter has maximized returns and minimized risk for many large landlords by effectively targeting and securing key tenants.  His strong personable character has enabled him to develop a network of business owners/tenants within the GTA.

Peter’s ability to create relationships with key tenants and landlords has produced many opportunities for his clients.

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Tracy Macdonald

Senior Managing Director, Industrial | GTA

Toronto West

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Adam Jacobs

Head of Research | Canada

Toronto Downtown

Colliers Canada's head of research, leading a cross-country team of 20 mapping, analytics and research professionals. Formerly head of Canada research at Cushman Wakefield and Director of Analytics at Oxford Properties. Featured in mainstream publications such as the Toronto Star, industry publications and podcasts. Specializing in the big picture and the fundamentals driving real estate - demographics, the macro environment and the global economy. 

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