We've been tapping into local leaders' crystal balls for their 2014 predictions, and Colliers International's president of Eastern Canada Scott Addison (right, with SIOR Broker of the Year, Avison Young’s Robert Armstrong) forecasts moderately strong demand and moderate supply growth, which means the market will remain healthy. In the industrial sector, Scott predicts that lease rates will move up sharply with the end of cap rate compression, while we'll see an increase in development costs and low vacancy. (We'll all be fighting over cabinet space.) “That trend will gain momentum until lease rates for new spec buildings reach a level where economic returns make sense to landlords,” he says.
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