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KINGSTON'S INDUSTRIAL MARKET TRENDS
Cushman & Wakefield Kingston • May 2022
In 2021, the national industrial real estate sector saw accelerated growth due to various market influences (COVID-19 pandemic, consumer demands etc.). Large markets experienced record low vacancy rates and increased absorption rates.
Kingston’s industrial market was no exception to the national 2021 growth trends. Though, Cushman & Wakefield Kingston says that industrial commercial real estate in the Kingston Ontario market has experienced steady growth over a 12-year period.
Regional Industrial property sales prices in 2007 averaged $53.41 per square foot (psf). Over the following 10 years, the market saw an almost 80% increase, with the average sales price in 2017 reaching $96.03 psf.
The market saw yet another dramatic increase over 3 years. In 2021, sales prices in Kingston’s industrial commercial real estate sector averaged $160.52 psf, a 200.54% sales price increase over 12 years.
With low inventory, high demand, and an increase in new industrial developments the Cushman & Wakefield Kingston team forecast that the industrial market will not see any significant decline through the remainder of 2022.
2021 INDUSTRIAL SALES TRANSACTIONS
485 O'CONNOR DR, KINGSTON, ON.
710 INNOVATION DR, KINGSTON, ON.
1475 CALIFORNIA AVE, BROCKVILLE, ON.
198 RESOURCE RD, KINGSTON, ON.
CONTACT THE BROKERS
|Peter Kostogiannis||Martin L. Skolnick||Scott Botting, B. Comm|
|Broker of Record/President||Vice President/Broker||Broker|
|(613) 542-2724 x 24||(613) 542-2724 x 27||(613) 542-2724 x 33|
|[email protected]||martin.skolnick@cwkingston||[email protected]|