The GMA availability rate continued its downward trend, decreasing by 40 bps in Q3 2019 to a new record low of 2.8%.
Net asking rental rates demonstrated an unprecedented accelerated growth pace over a one-year span (10.1% from Q3 2018 to Q3 2019).
Available industrial product in the GMA is aging, as 93.4% of active listings are over 19 years old.
Two new construction projects broke ground in Q3 2019 totalling 433,000 sq. ft., including approx. 138,000 sq. ft. of speculative space in Terrebonne.