GTA North Leads Industrial Charge
The resilience of the industrial market in the GTA continues, according to Avison Young Q3 stats. There was an overall decline in new developments coupled with an increase in demand. That pushed up the GTA's average net rent $5.59/SF at the end of Q3. AY managing director of the Mississauga office, Martin Dockrill, says e-commerce is changing the way we look at retail and distribution in the GTA. Large-scale retailers are setting up more distribution centres in the market, all having a positive impact on the market. (When you order a silly Christmas sweater online, it has to come from somewhere.) Other trends: New product is coming online in 2014, but rents are expected to be higher because of higher land and development costs, coupled with the shortage of space. Demand in the GTA North market is the most robust, with an availability rate of 4%, the lowest in the region.
