•The Greater Toronto Area’s (GTA) industrial market availability rate remained unchanged at 2.0% for a third consecutive quarter.

•Average net asking lease rates increased significantly for a record 15th consecutive quarter to an all-time high of $10.25 per sq. ft.

•Overall, the net rental rate increased by 18.9% year-over-year, nearly matching the growth rate of 20.6% from the year prior.

•The GTA recorded the largest new supply on record for a single year with 12.1 million sq. ft. added in 2020.