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Toronto Industrial Market Report Q4 2024

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By Mohammad Abuyasin and Aian Miiabaev

Toronto Industrial Market Report Q4 2024

2024 ended with strong industrial leasing activity and general optimism in the Greater Calgary Area (GCA). The Q4 2024 net absorption of 737,372 square feet brought the annual absorption for 2024 up to ±4.2 million square feet, in line with the 10-year average of ±3.9 million square feet.

  • There is currently ±2.1 million square feet of under construction space in the GCA, however a significant portion of that has been leased or is a build-to-suit.
  • Inter-provincial migration and international immigration to the region accounted for the bulk of the ±6% increase to population growth in the GCA between 2022 and 2023 and 13% over the past 5 years.
  • With recent political shifts underway in Canada, it is unclear at this point what industries would be targeted in a potential trade war with our biggest trading partner, some landlords and occupiers are operating cautiously.

Toronto Industrial Market Report Q4 2024

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For More Information, Please Contact:
Mohammad Abuyasin | Colliers

Mohammad Abuyasin

Sr. Sitecore Developer

+1 778 903 3130
Email

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Aian Miiabaev | Colliers | Vancouver

Aian Miiabaev

Vice President | Valuation and Advisory Services

Vancouver

+1 604 694 7256
Email

Aian works in valuation industry since 2003, working in Canada, Russia and Kazakhstan. During his work experience, he acquired a deep knowledge of the property valuation and international experience in commercial and residential real estate markets. 

Throughout his work, Aian has developed extensive knowledge of valuation standards, management and client relationship. 

 

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