CRE This Week: What's impacting the Canadian market
March 11, 2026 - Canada commercial real estate market insights, indicators, and notable transactions
March 11, 2026
Welcome to the latest edition of CRE This Week, curated by Altus Group’s Canada research team.
Our team has handpicked new and noteworthy market indicators, articles, and significant industry transactions that are impacting Canada's commercial real estate sector. We understand that your time is valuable, so we're excited to deliver research that helps you stay informed and saves you some time each Wednesday morning.
FEATURED TrANSACTIONS
Canada property transactions
Greater Toronto Area: Industrial
176 Wicksteed Avenue & 57 Research Road, East York
$7,995,000
$513 per sq. ft.
Brokers: Carol Trattner & Brett Taggart (CBRE)
Greater Vancouver Area: Industrial
19138 32nd Avenue, #104
$6,632,850
$525 per sq. ft
Broker: Chris Brewster & Andrew Lord (Colliers)
Greater Ottawa Area: Apartment
110 Argyle Avenue, Ottawa
$6,567,500
$371 per sq. ft.
Greater Edmonton Area: Apartment
10512 83rd Avenue NW, Edmonton
$3,290,000
$182,778 per unit
Greater Toronto Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Apartment | North York | 30 Esterbrook Avenue | $49,000,000 | $300,613 | per unit | |
Industrial | Markham | 215 Konrad Crescent | $14,853,018 | $438 | per sq. ft. | Gerry Scanlan (Scanlan Real Estate Limited) |
Industrial | Oakville | 2889 Brighton Road | $7,390,000 | $479 | per sq. ft. | David Colley & Kennedy Banks (Colliers) |
Greater Vancouver Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Industrial | Surrey | 2455 192nd Street, #105 | $7,223,432 | $474 | per sq. ft. | Garth White, Jen Schroer, Joe Lehman (Avison Young) & Mike Alleyne (Homelife Benchmark Realty) |
Apartment | Vancouver | 1603 East Broadway | $6,300,000 | $286,364 | per unit | Sutton Group West Coast Realty & Rennie & Associates Realty |
Retail | Vancouver | 109 & 113 West 49th Avenue | $3,097,600 | $2,117 | per sq. ft. |
Greater Ottawa Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Office | Ottawa | 150 Slater Street | $143,500,000 | $301 | per sq. ft. | Nico Zentil & Jaysen Smalley (CBRE) |
Apartment | Ottawa | 2920 Fairlea Crescent | $33,330,000 | $294,956 | per unit | |
Apartment | Gatineau | 158 Richer Street | $4,450,000 | $278,125 | per unit |
Greater Edmonton Area
Sector | Municipality | Address | Price | Unit Price | Parameters |
|---|---|---|---|---|---|
Apartment | Edmonton | 10725 83rd Avenue NW | $2,975,000 | $148,750 | per unit |
Apartment | Edmonton | 10036 117th Street NW | $1,980,000 | $165,000 | per unit |
Retail | Edmonton | 3319 153rd Avenue NW | $1,350,000 | $486 | per sq. ft. |
ECONOMIC PRINT
Canada commercial real estate market indicators
Select markets saw condo sales decline by over 60% YoY in 2025
New condominium apartment sales in the Vancouver market area declined by over 60% in 2025, compared to 2024. Other Canadian markets covered by Altus data experienced a similar decline in sales on a year-over-year basis. Edmonton and Montreal were exceptions, with relatively subdued declines.
Figure 1: New condo apartment unit sales, selected markets, year-over-year change in 2024 and 2025
INSIGHTS Spotlight
Catch the latest research and insights from Altus
Vancouver CRE market update – Q4 2025
Vancouver CRE closed $9 billion in deals in 2025, down 14% from 2024, with investors favoring safe, income-generating assets over risky bets. Office and retail surged (one $1.2B Amazon HQ deal skewed office numbers), while industrial and apartments cooled.
Webinar: Beyond the model - Rethinking the value of your ARGUS data
Your ARGUS models contain some of the most valuable data in your organization. But when that data lives inside a database with no clear structure, your team is only scratching the surface of what your models can tell you. Join this webinar to see how ARGUS Intelligence brings together your data and manages it by portfolio, property, version and use case, making your data accessible and usable across different teams.
About our research team
Edward Jegg
Research Manager, Data Solutions
Altus Group
Edward Jegg serves as a Research Manager on the Data Solutions team at Altus Group, leveraging over 35 years of extensive experience in the commercial real estate sector to deliver market intelligence to the industry. Jegg plays a key role in creating and disseminating detailed market reports across Canada, providing stakeholders with timely insights for investment decision-making. Jegg is a recognized expert, frequently offering media commentary on real estate trends and recently receiving the prestigious Chair's Award of Merit from BILD for his outstanding contribution to the field.
Jennifer Nhieu
Senior Research Analyst, Data Solutions
Altus Group
Jennifer Nhieu is a Senior Research Analyst, Data Solutions with Altus Group, where she specializes in providing timely, data-driven insights into the Canadian market. Leveraging her background in commercial real estate and geographic information science, Jennifer is a key contributor to Altus Group’s quarterly research insights. She transforms complex data sets into clear, actionable intelligence, helping stakeholders make informed decisions.
About the Data Solutions team
Behind every update in our newsletter is the work of our Data Solutions team, a group dedicated to keeping you informed on commercial real estate activity across Canada. From Vancouver to Toronto (and everywhere in between), they track transactions, visit properties, and add the local context that numbers alone can’t capture. Their work goes beyond deals, by providing insights into new home developments and sales trends, as well as detailed office and industrial inventory data across key markets, from Montreal and Calgary to Winnipeg, Quebec City, and Atlantic Canada.
Disclaimer: The opinions expressed in this newsletter are solely those of the authors and are not endorsed by Altus Group Limited, its affiliates and its related entities (collectively “Altus Group”). This publication has been prepared for general guidance on matters of interest only and does not constitute professional advice or services of Altus Group. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy, completeness or reliability of the information contained in this publication, or the suitability of the information for a particular purpose. To the extent permitted by law, Altus Group does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it. The distribution of this publication to you does not create, extend or revive a client relationship between Altus Group and you or any other person or entity. This publication, or any part thereof, may not be reproduced or distributed in any form for any purpose without the express written consent of Altus Group.
Resources
Latest insights
