Increased demand from a variety of users, noticeably e-commerce, logistics, food and third-party logistics (3PL), has contributed to approximately 1.5 million sq. ft. of positive absorption in Q4 2020.
Average asking net rental rates broke the $7.00 per sq. ft. plain for the first time ever in Q1 2020 and finished the year at $7.73 per sq. ft. with an impressive year-over-year growth of 17.4%.
The average availability rate for the Greater Montreal Area (GMA) decreased to a new record low of 2.1% in Q4 2020 compared to 2.7% in Q4 2019.