It is too early to predict the impacts of the COVID-19 pandemic on Waterloo Region’s industrial market.
- If we look at the 2008 global financial crisis, the Region’s industrial market had significant vacancy of newly built speculative developments, an availability rate of 5.5% compared to the current 2.6%.
- Supply at the time outpaced demand and landlords were offering significant tenant incentives to encourage lease up.
- While the impact of that recession was sharp, the Region’s industrial market bounced back quickly. Although the two events are very different there is reason to be optimistic that the market could bounce back just as quickly.
