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Greater Toronto Area Industrial : Lowest availability in over four years - Q3 2013

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A research produced by DTZ

Greater Toronto Area : Lowest availability in over four years - Q3 2013

The Greater Toronto Area (GTA) availability rate decreased by 0.28% from Q2 2013 to 4.80% in Q3 2013. Approximately 2.12 million square feet leased in Q3 2013. Across the GTA, 86.16% of available industrial space was direct and 13.84% was for sublet.

One building was completed over the quarter totalling 176,898 square feet in Milton. There were 14 buildings under construction totalling (2.63 million sq ft) with 93.45% of construction in the GTA West market (2.45 million sq ft), Central (80,000 sq ft) and GTA North (92,301 sq ft) .

Industrial average net rents increased by $0.15 to $5.40 per square foot. Average Taxes, Maintenance and Insurance (TMI) increased by $0.04 to $3.12 in Q3 2013.

Source : DTZ (Groupe UGL)

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Keywords : DTZ