Industrial remains Canada’s top-performing commercial real estate sector in spite of a revised financial climate, says Remax.

In a blog post, the brokerage firm said industrial lease rates are rising steadily. Sale prices, are also moving upward as interest rates increase and lender requirements tighten.

Citing various unidentified data sources, Remax said industrial rents have increased 74% in Montreal, 41% in Calgary, 31% in Toronto and 18% in Montreal during the past year.

The growth is being driven by demand for different types of industrial properties as properties in major industrial hubs earn the highest lease rates and sale prices.

New supply is concentrated mainly in Toronto, Calgary, Vancouver, Montreal and Edmonton.

The findings came after Amazon opened its first extra-large-items warehouse in Calgary. Meanwhile, H&R REIT plans to concentrate largely on industrial investments while getting out of the troubled office sector.