Avison Young’s Spring 2015 Canada, U.S. and U.K. Industrial Market Report, released yesterday, notes that industrial markets on both sides of the border are experiencing stable-to-improving fundamentals, among other key trends.
The report covers industrial markets in 43 Canadian, U.S. and U.K. metropolitan regions.
“It’s been one year since we launched our inaugural Canada-U.S. industrial market report, and we are pleased to report that, as Avison Young has grown, our coverage has expanded from 35 to 43 industrial markets, including additional cities in Canada and the U.S., plus London in the U.K.,” Mark E. Rose, chair and CEO of Avison Young, said.
Other key trends included active development pipelines that demonstrate confidence in anticipated demand, as well as volatile energy prices that remain an unknown factor going forward; their influence, however, has yet to be felt.
“Momentum continues to build, particularly in the U.S. markets, many of which have recorded declines in vacancy and a steady rise in rental rates, while demand for quality assets has been broad based,” Rose said. “This situation will only get better as the U.S. economy expands -- and the spillover effects will benefit Canada. Both countries’ industrial markets have positioned themselves to take advantage of this anticipated next phase of the recovery by delivering state-of-the-art distribution and warehouse facilities, both design-build and speculative in nature.”