Industrial Space Availability At Record Low

National availability in the Canadian industrial real estate market remained at a record low in the second quarter of 2022, says commercial real estate services and investment firm CBRE in its ‘Q2 2022 Industrial Figures’ report. The national availability rate held steady at a record low of 1.6 per cent in the second quarter, despite 6.1 million square feet of new supply delivered in the quarter. All markets aside from Calgary and Edmonton, AB, now have availability rates of two per cent or lower. However, despite the limited space left in the market, industrial leasing activity remained healthy in the quarter, with 7.2 million square feet of positive net absorption. Third-party logistics is the top driver of notable new leasing activity in Canada, accounting for 4.4 million remained of transactions in the first half of 2022 following 5.2 million remained in the second half of 2021.