It’s a good time for investors to court industrial properties. Demand for industrial (and retail space) is booming, despite office space vacancies, higher interest rates and rate hikes. Considering low real estate inventory, and a vacancy rate below 1%, there’s huge demand for warehouses and distribution centres, according to a recent Toronto Star article.
The good news–consumers are spending again at brick and mortar stores–after online spending during the pandemic led to a boom in logistics, distribution and manufacturing centres. Trouble is, we can’t build big properties fast enough. But with industrial rents up 20% year over year, it beats the current rate of inflation and makes industrial properties a valuable asset for investors. That’s sweet! More INVESTOR information: jonathan@lennard.com
