The average availability rate for the Greater Montreal Area (GMA) lowered to a new record low of 3.6% in Q4 2018, compared to 6.3% in Q4 2017.
Shrinking availability caused average net rents to climb by 5.8% since Q1 2018 and by 11.7% since Q4 2016 in the GMA.
The GMA witnessed the highest quarterly delivery of new industrial space (552,000 sq. ft.) since Q2 2015 as the GMA market is eager for new supply.
More than 1.0 million sq. ft. of new industrial space is under construction, predominantly in Laval.