The availability rate reached a fifteen-year low in Q1 2018, with a transaction volume (leasing and sales) of 2.4 million sq. ft.

Much like last quarter, where quality products were scarce, current supply is unable to satiate the ongoing demand for industrial assets. This resulted in an increase of construction of 44.7% quarter-over-quarter and of 470.2% year-over-year to 1.5 million sq. ft.

High-power users, such as cannabis producers, data centres and cryptocurrency companies, are actively seeking warehouses with significant electrical capacity, regardless of location and building type.