Warehouse Rental in Canada – Where to Find the Best Deals

If you’re looking to rent a warehouse space in Canada, you’ll find it in the cities with the lowest average asking rent and the highest vacancy rate. You’ll also find listings in Winnipeg, where the average rent is the lowest in Canada, and in Toronto, where there’s the least shortage of space. But which cities in Canada offer the best deals? Here are some ideas to get you started. In the meantime, check out our guide to warehouse rental in Canada.

Edmonton has the highest vacancy rate

Industrial property in Edmonton has the highest vacancy rate in Canada, according to the latest report from Mercer. In fact, only three warehouse properties larger than 100,000 square feet are currently available in the region, making the market even more limited. The number of available properties is also expected to rise over the next year, with 73.3% of new industrial space being preleased, according to Mercer. But it’s not just vacancy rates that are problematic. The overall market is also a prime example of how supply chains are affected.

While Toronto and Vancouver have low vacancies compared to other Canadian cities, Edmonton and Calgary have the highest vacancy rates. In fact, Vancouver and Calgary’s vacancy rates were nearly identical to the national average. Toronto, Winnipeg, and the Waterloo region were slightly better than the national average. But unlike Toronto, Vancouver and Ottawa, these cities still have higher vacancy rates than the national average.

While Edmonton and Toronto are two of the hottest markets for industrial space, the city is still cheaper than many of its larger rivals. According to a Mercer report, Edmonton has the highest vacancy rate of any major city in Canada. Its average asking rent is $15 to $21 per square foot, while Toronto and Vancouver are both above average for this type of space. However, the average price of a warehouse in Edmonton is far less than in Vancouver and Toronto.

Winnipeg has the lowest average asking rent

According to the latest data from the Canadian Real Estate Association, Winnipeg has the lowest average asking rent for Canada’s warehouse market. This is due in part to the vacancy rate in the city being low, and in part to the fact that Winnipeg has experienced a decline in new condo construction over the last three years. In Winnipeg, the vacancy rate decreased from 5.4 per cent in the third quarter of 2018 to 2.8 percent in the fourth quarter.

In 2022, the average rent for a single-family home in Winnipeg is only $1,780. In comparison, the average rent for a rental apartment in Vancouver is $4,494 per month. Meanwhile, the lowest average monthly rental rate for an apartment or condo in Winnipeg is $993 per month, while the highest average rent in the country is in Montreal. The province of Alberta was also the lowest in the ranking of average monthly rent, with the highest average asking rent of $2,497 per square foot.

While rents across Canada are increasing, the price of space is not. Rents have been rising for more than a decade. However, O’Toole’s neighbor pays $1,800 a month plus hydro. As a result, O’Toole is lucky to live in a city where the average asking rent for a warehouse is so low that he pays nearly half the cost of his neighbour’s unit.

Toronto has the lowest shortage of warehouse space

The availability of warehouse space in Toronto has fallen below the national average, according to CBRE’s latest inventory. The shortage is primarily due to the rise of e-commerce, which has tripled the share of retail sales in North America. The low vacancy rate has caused prices to increase by 40% in just three years, and developers are struggling to keep up. Existing buildings are also being converted to accommodate demand. This has contributed to the low vacancy rate.

The scarcity of industrial land is affecting the manufacturing sector, which needs this type of space to produce food and other consumer goods. The absence of available industrial land means that companies can’t grow. Although Ontario is home to a large manufacturing sector, there are concerns that the growth of warehousing could put pressure on manufacturing. Furthermore, rising stock prices may lead to a surge in rental prices for multi-family properties, which could drive up demand.

In addition to the supply chain issues, warehouses are taking up valuable land. As a result, developers are tearing down and converting them to mixed-use condo/retail developments. The average price of a Toronto city condo is now at $800,000.