The GTA has seen a Year-over-Year increase of 30% in net rental rates and close to a 40% increase since the beginning of the pandemic.
- With such a rapid rise in pricing, we are beginning to see some tenant pushback on escalating net rents.
- As availability remains low, more and more opportunities will have to come from “off market” agreements.
- Q1 saw less than 1 million square feet delivered across the GTA but double or triple that amount is anticipated in Q2.