London Ontario Industrial Figures Q1 2026

‒    Overall vacancy rates have now climbed to 64% year-over-year caused mostly by two spaces being added to inventory last quarter. Vacancy rates continued to rise this quarter, recording a 30 bps increase to 4.1%. This increase was largely caused by the South region adding nearly 150,000 SF to vacant space this quarter. Overall availability rates also saw increases, recording a 50 bps increase to 5.8%.

‒    Net asking rent remained stable, rising 3.5% year-over-year caused mostly by East region Net asking rents rising 4.3% to $10.50 per sq. ft. The East and Northwest region recorded no notable change in Net asking rents, both sitting at $10.50 per sq. ft.

‒    An expansion project completed this quarter and added 240,000 sq. ft. to the South region’s inventory. The space is fully occupied and did not affect quarterly numbers.