Is casual Friday still a thing? Seems everyone is casual 24/7 these days. And it’s also World Photography Day. Not sure who thinks up these dates, but sure why not participate. On Fridays, clients typically check in with me. Explore options. Revisit past requests. Talk about new goals. And generally want to know what’s going on. It’s an interesting time in CRE. Shifts, changes, challenges and activity:
▪️In Q1 2022, the GTA CRE market registered $9.3 billion in transactions in the first quarter, a 40% increase compared to the same period last year.
▪️2021 registered the highest first quarter investment totals ever recorded, driven by strong investor demand, lack of inventory and low borrowing costs.
▪️Industrial vacancy rates are still at record low levels in the GTA, but the industrial market continued to be in strong demand, with $1.6 billion in sales, up 10% compared to Q1 2021.
According to Altus Group’s Investment Trends Survey for Q1 2022, the most coveted market in Canada is the Toronto market. And the most preferred assets for the Toronto market were the food anchored retail strips and industrial land. Nothing casual about that. Time for some cocktails with clients! Enjoy your weekend!