Raising the Doors on Toronto's Industrial Market Reset

GTA industrial market transitioning from a boom period to a more balanced environment

Signs of this shift began in 2023 and accelerated through 2024. By the end of the year, lease vacancy reached 4.4%—the highest in nearly 11 years—though its impact has been uneven. Factors like ceiling height, size, and location have influenced how buildings have performed, with some properties proving more resilient than others. Explore our report for a deeper look at the key drivers behind these changes and how different buildings have adapted to the evolving market landscape.

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Authors

Juana Ross
Director, Research, GTA
Pam Jiang
GTA Research Manager, Data
Leah Campos
Sr. Research Analyst
Ankit Razdan
Senior Research Analyst

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