Canada’s industrial leasing market outlook is generally stable and healthy, following the record-setting performance of the past couple of years. Supply will remain constrained over the final few weeks of 2023 and in the first half of 2024. Availability will increase slightly with the ongoing delivery of new supply. However, the national availability rate will subsequently stabilize as construction activity slows. Tenants will continue to find it challenging to source available space in which to expand or relocate. New supply will offer relief for some tenants. Newly built space will be absorbed prior to or shortly after completion. The warehouse and logistics sector will continue to lead the way in terms of expansion across the country. Manufacturer sector expansion will also be reported in certain markets. In some cases, users will be forced to look to the build-to-suit market to meet their operational needs. Leasing market conditions will remain tight over the near term, which will result in continued upward pressure on rents. Rents will continue to rise, although the rate of increase will be markedly lower than during the 2021 to early 2022 market peak. Landlords will remain in the driver’s seat when negotiating new leases and renewals. In summary, the nation’s industrial leasing outlook is generally stable an