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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.
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710 INNOVATION DR, KINGSTON, ON.
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1475 CALIFORNIA AVE, BROCKVILLE, ON.
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198 RESOURCE RD, KINGSTON, ON.
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VIEW OUR CURRENT INDUSTRIAL LISTINGS FOR SALE
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] |