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Greater Toronto Area (GTA) industrial market continues to exude strength amidst ongoing uncertainty of COVID-19.
Through Q3 2020, the industrial asset class has continued to prove the most robust. Asking rents have continued higher, vacancy has remained low, and leasing activity has increased following a slow second quarter. All market participants, however, do not agree on the direction of market fundamentals. A gap in pricing expectations between tenants and buyers and landlords and sellers persisted in Q3 2020, as COVID-19 continues to cloud visibility into the future. As vacancy remains at historically low levels and aggregate demand is not yet deterred by an unclear future, it is expected that rental rate growth will continue its positive trajectory.