Make better Real Estate decisions with expert intel from our award-winning Commercial Real Estate team!
Our Q4 2020 Market Report reveals industrial and office market trends across the Oakville-Burlington-Hamilton region.
What a year it has been. For a large portion of 2020, the GTHA’s industrial market held steady despite the coronavirus outbreak. With news of vaccines being administered, 2021 may see some semblance of normalcy return. As demand for industrial space continues to intensify, owners and developers are having to rethink traditional uses for other commercial asset types.
Online shopping has exploded, in a large part due to COVID-19 shifting the way consumers purchase retail goods. This will increase the need for space to receive, process and store returns which will likely put continued pressure on supply chain and transportation networks.
Office vacancy rates continue to grow causing downward pressure on rental rates with lower averages recorded across the GTHA. Looking back on 2020, landlords were intent on preserving face rates and preferred to offer incentives and flexible terms to tenants.
Moving forward in 2021, an adjustment in price expectations between landlords and tenants will be imperative in order to increase transaction activity. We will likely see more instances of short-term deals as companies continue to hold off making major business decisions.
Read more in our Q4 2020 Market Report!
Leading market research in your hands
Sign up for our mailing list so you don’t miss out on future market intelligence reports and insights.
We respect your privacy.