CRE This Week: What's impacting the Canadian market
October 28, 2026 - Canada commercial real estate market insights, indicators, and notable transactions
October 28, 2026
Welcome to the latest edition of CRE This Week, powered by Altus Data Studio.
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
6010 & 6020 Ambler Drive, Mississauga
$14,000,000
$381 per sq. ft.
Greater Vancouver Area: Office
Units 501-514, 10745 King George Boulevard, Surrey
$9,492,786
$968 per sq. ft.
Broker(s): Raj Sidhu, Christina Lafakis, Harp Khela (Colliers)
Greater Montreal Area: Apartment
51-71 Roberval Boulevard West & 3131 Racicot Street, Vieux-Longueuil
$22,406,000
$155,597 per unit
Broker(s): Sebastien Gatti, Marie-Claire Laflamme-Sanders, Santiago Garfinkle (Avison Young)
Greater Golden Horseshoe: Industrial
364 Massey Road, Guelph
$6,000,000
$185 per sq. ft.
Broker(s): Michael Merker (NAI Park Capital)
Greater Toronto Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Broker(s) |
|---|---|---|---|---|---|---|
Retail | New Market | 17600 Yonge Street | $404,000,000 | $415 | per sq. ft. | Hillel Abergel, Matt Brown, Kai Tai Li, Ian Kitt |
Office | North York | 1118-1126 Finch Avenue West | $38,800,000 | $163 | per sq. ft. | Peter Senst, Matthew Brown, Hillel Aberge, Kai Tai Li (CBRE) |
Industrial | North York | 5781 & 5789 Steeles Avenue West | $34,500,000 | $266 | per sq. ft. | Peter Senst, Matthew Brown, Hillel Aberge, Kai Tai Li (CBRE) |
Greater Vancouver Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Maple Ridge | Swan Court, 11901 222nd Street | $4,600,000 | $209,091 | per unit | Dan Chatfield, Raymond Townsend, Trever Buchan (Colliers) | Maple Ridge |
Burnaby | 5329 Imperial Street | $2,400,000 | $600 | per sq. ft. | Gurjit Ghai (Rexara Realty Inc.), Manjit Hayer (Planet Group Realty) | Burnaby |
Burnaby | Unit 104, 3855 Henning Drive | $2,165,000 | $682 | per sq. ft. | Brayden Sangha (CBRE) | Burnaby |
Greater Montreal Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Broker(s) |
|---|---|---|---|---|---|---|
Retail | Vieux-Longueuil | 2588-2642 de Chambly Road | $13,500,000 | $247 | per sq. ft. | |
Retail | Brossard | 4625-4645 Grande-Allée Boulevard | $4,650,000 | $274 | per sq. ft. | |
Retail | Beloeil | 265 de l'Industrie Street | $4,300,000 | $741 | per sq. ft. | Gabriel Duault (YESARRAZIN), Jinling Xie (Proprio Direct) |
Greater Golden Horseshoe
Sector | Municipality | Address | Price | Unit Price | Parameters |
|---|---|---|---|---|---|
Apartment | Kitchener | 71 Bankside Drive | $41,750,000 | $272,876 | per unit |
Retail | Barrie | 534 Bayfield Street | $19,000,000 | $509 | per sq. ft. |
Office | Kitchener | 4210 King Street East | $9,400,000 | $304 | per sq. ft. |
Market Indicators
National industrial availability diverged in Q3
Canada’s industrial market is diverging sharply. National availability rose 20 basis points year-over-year to 6.2% in Q3 2026, but regional trajectories tell opposite stories.
Vancouver tightened to 5.9% on port-adjacent logistics demand
Calgary fell to 4.9%, anchored by third-party logistics and e-commerce distribution
GTA loosened 60 bps as speculative deliveries outpaced cautious tenant demand
Montreal rose to 8.9% on large-bay completions, though smaller modern facilities remain tight
Figure 1: Industrial availability rate (Q3 2024 vs. Q3 2025 vs. Q3 2026)
National industrial supply dynamics
Eighteen new industrial buildings added 3.9 million square feet in Q3 2026, with 61% remaining available. Regional divergence was stark: Calgary absorbed three fully leased facilities, while the GTA’s 2.5 million square feet sat 85% vacant, reflecting differences in developer discipline and tenant demand. Read the full Q3 Canadian industrial market update.
Figure 2: Industrial completions and availability (Q3 2026)
INSIGHTS Spotlight
Catch the latest research and insights from Altus
Canadian industrial market update - Q3 2026
By Jennifer Nhieu, Senior Research Analyst
Canada’s industrial market reached 6.2% availability in Q3 2026 amid trade uncertainty. Explore regional performance, completions and pipeline.
Canadian office market update - Q3 2026
By Jennifer Nhieu, Senior Research Analyst
The national office availability rate declined by 110 basis points YoY to 15.1%, driven by demand for premium office space and a significant reduction in new construction.
Building for Canada starts with understanding Canada
By Terrie-Lynne Devonish, Chief Legal Officer & Managing Director, Canada
Canadian CRE clients need proven solutions, not just data. How Altus builds with local expertise and market understanding.
About our research team
Edward Jegg
Research Manager, Data Solutions
Altus Group
Edward Jegg is a Research Manager, Data Solutions at Altus Group, with over 35 years of commercial real estate expertise. He delivers market intelligence across Canada, transforming complex data into actionable insights for investment decision-making. Edward is a recognized expert in real estate trends and recipient of BILD's Chair's Award of Merit.
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 CRE 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.
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