Data centres, medical cannabis production plants and cryptocurrencies boosted demand in Q4 2017. These energy-intensive industries tend to favour markets where power is affordable.
Built-to-suit developments are expected to become more common; 1.0 million sq. ft. are currently under construction and this figure should increase by at least 335,000 sq. ft. in Q1 2018.
Facilities with a clear height of 24’ and more are in high demand. Yet, only 9.5% of new available listings were meeting this standard.
The total square footage of properties for sale declined by 38.0% since Q1 2017 in the GMA, now representing 10.2% of total availabilities