Greater Toronto Area
’s commercial real estate sector.
A new report, Avison Young’s Fourth Quarter 2014 Greater Toronto Area Industrial Market Report
, published today, showed that the GTA
is continuing to hold its own among the big industrial markets in North America.
“Steady market activity and a landlord’s market have resulted in high investor confidence and an active development pipeline, with 4.1 million square feet (msf) of speculative development under construction and another 2.7 msf in design-build projects underway across the GTA
,” said Bill Argeropoulos, principal and practice leader, research (Canada) for Avison Young.
The Bank of Canada’s recent rate cut has driven bond yields to record lows, furthering demand in the investment market. REITs, whose performance can be deemed as mild in 2014, have gained ground against their pension fund competitors as a result of the lower cost of capital and a shift in investor confidence.
“We are seeing a consistently strong GTA
north user sale market as tenants seek to own rather than lease,” added Eva Destunis, principal at Avison Young.
“As for the leasing market, although time on the market continues to be our main challenge, lease deals are still completed on a steady basis, and 2015 is showing an increase in leasing activity so far.”
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An active investment market, consistent building supply, redevelopment of existing buildings and steady leasing demand are just some of the trends setting the stage for a robust 2015 in the