London Ontario Industrial Figures Q1 2025

–       After largely staving off a significant availability rate increase in 2024, London started the year with a notable availability increase of 80 basis points (bps) to 3.6%. However, the London industrial market is still positioned well below the national average.

–       The average asking rent recorded a 1.5% quarter-over-quarter reduction to $10.21 per sq. ft.

–       With increased trepidation in the auto supply chain and manufacturing industry, London and the nearby regions face immense economic headwinds and clouded uncertainty from tariff pressures.

–       With no new projects breaking ground, the under construction pipeline remains at 135,000 sq. ft., which is an 83.8% reduction from the most recent peak in Q1 2023.