CRE This Week: What's impacting the Canadian market
May 20, 2026 - Canada commercial real estate market insights, indicators, and notable transactions
May 20, 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: Retail
1027 Yonge Street, Old Toronto
$23,900,000
$797 per sq. ft.
Greater Vancouver Area: Retail
3242 Westwood Street, Port Coquitlam
$7,000,000
$396 per sq. ft
Brokers: David Taylor , Casey Weeks, Morgan Iannone (Colleris)
Greater Montreal Area: Industrial
7500 de la Côte-de-Liesse Road, Saint-Laurent
$14,948,935
$181 per sq. ft.
Greater Calgary Area: Industrial
4380 76th Avenue SE, Calgary
$6,975,000
$165 per sq. ft.
Greater Toronto Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Industrial | Mississauga | 2220-2260 Matheson Boulevard East | $96,000,000 | $311 | per sq. ft. | |
Apartment | Old Toronto | 150 Roehampton Avenue | $90,750,000 | $613,176 | per unit | |
Retail | Oakville | 177-187 Cross Avenue & 580 Argus Road | $42,672,468 | $1,463 | per sq. ft. | Michael Zeldin (Lennard Commercial) |
Greater Vancouver Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Office | Vancouver | #550-560, 1438 Robson Street | $2,850,000 | $1,100 | per sq. ft. | Brayden Sangha, Andre Alie Day (CBRE) |
Apartment | Chilliwack | 9091 Mary Street | $2,300,000 | $209,091 | per unit | Carey Buntain, Kevin Murray, Bijan Lalji (Avison Young) |
Industrial | North Vancouver | #100 & 111, 2411 Dollarton Highway | $1,805,000 | $784 | per sq. ft. |
Greater Montreal Area
Sector | Municipality | Address | Price | Unit Price | Parameters |
|---|---|---|---|---|---|
Industrial | Lavalm | 850-590 Munck Avenue | $23,750,000 | $395 | per sq. ft. |
Office | Rosemont-La Petite-Patrie | 6600 Saint-Urbain Street | $19,200,000 | $126 | per sq. ft. |
Industrial | Lachine | 1950 46e Avenue | $16,000,000 | $103 | per sq. ft. |
Greater Calgary Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Industrial | Calgary | #107, 11127 15th Street NE | $2,600,000 | $270 | per sq. ft. | David Reich, Kevin Tang (Cushman & Wakefield) |
Office | Calgary | 4103 Centre Street NW | $1,600,000 | $444 | per sq. ft. | |
Retail | Calgary | #240, 110 Corner Meadows Manor NE | $1,572,010 | $643 | per sq. ft. |
Toronto CRE market performance in Q1 2026
Toronto CRE transaction volume varied widely across sectors in Q1 2026. Multi-family posted the strongest gain, up 232% year-over-year to nearly $675 million, driven by broad-based momentum across key submarkets. Office investment more than doubled, reaching $485 million as investors concentrated activity in Class AAA and A assets. Industrial remained the largest sector at $1.5 billion, up 11%. Retail saw the sharpest decline, falling 66% to $314 million as limited inventory and elevated financing costs constrained activity. Read the full report for a complete sector breakdown.
Figure 1: Greater Toronto Area property transactions by asset class (Q1 2025 vs. Q1 2026)
Toronto new home sales showed improvement in March, but remain below historical averages
The Building Industry and Land Development Association (BILD) released its March 2026 new home sales report for the Greater Toronto Area, using data from Altus Group. New home sales reached 948 units in March, up significantly from the record low of March 2025 but still 64% below the 10-year average. Single-family homes drove much of the improvement, with 685 units sold, while condominium apartment sales remained well below historical norms at 263 units. Total new home inventory dipped below 20,000 units for the first time in 19 months.
Figure 2: March 2026 GTA new home market results
INSIGHTS Spotlight
Catch the latest research and insights from Altus
WEBINAR: Investing in Canadian CRE in 2026 - How data and AI are changing the way CRE decisions get made
On May 28th, we’re hosting a panel discussion with Ray Wong from Newmark Canada and Carl Gomez from Centurion Asset Management to discuss data quality, AI adoption, and investment decision-making in Canadian commercial real estate.
Toronto CRE market update – Q1 2026
Our quarterly analysis of sector performance and featured transactions in the Greater Toronto Area.
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.
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