The Greater Toronto Area (GTA) availability rate decreased by 0.83% from Q3 2013 to 3.97% in Q4 2013. Approximately 6.36 million square feet leased in Q4 2013. Across the GTA, 85.70% of available industrial space was direct and 14.30% was for sublet.
Three buildings were completed over the quarter totalling 499,820 square feet in Mississauga and Milton. There were 12 buildings under construction totalling (2.81 million sq ft) with 92.10% of construction in the GTA West market (2.01 million sq ft), Central (80,000 sq ft) and GTA North (92,301 sq ft).
Industrial average net rents increased by $0.09 to $5.49 per square foot. Average Taxes, Maintenance and Insurance (TMI) remained steady at $3.12 per square foot in Q4 2013.
Source : DTZ (Groupe UGL)