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Availability rises for first time in five quarters - Q2 2014

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The Greater Toronto Area (GTA) availability rate increased by 0.16% from Q1 2014 to 4.54% in Q2 2014. This was the first increase in availability since approximately 385,000 square feet came to market in Q2 2014. Across the GTA, 86.59% of available industrial space was direct and 13.41% was for sublet.

Two buildings were completed over the quarter totalling 909,640 square feet, both in Mississauga. There were seven buildings under construction totalling 2.88 million square feet, all located in GTA West.

Industrial average net rents increased by $0.03 to $5.79 per square foot. Average Taxes, Maintenance and Insurance (TMI) decreased to $3.62 per square foot in Q2 2014.

Source : DTZ (Groupe UGL)

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