CRE This Week: What's impacting the Canadian market
April 22, 2026 - Canada commercial real estate market insights, indicators, and notable transactions
April 22, 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: Apartment
6360 & 6380 16th Avenue, Markham
$173,060,821
$925,459 per unit
Greater Vancouver Area: Industrial
3300 Viking Way, Richmond
$43,000,000
$249 per sq. ft
Brokers: Ron Emerson & Bryn Cartwright (Avison Young)
Greater Calgary Area: Retail
10450 Macleod Trail SE, Calgary
$19,625,000
$361 per sq. ft.
Brokers: Sunil Mall (URBAN-REALTY.ca)
Greater Edmonton Area: Industrial
10004 29A Avenue NW, Edmonton
$7,200,000
$126 per sq. ft.
Greater Toronto Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Apartment | North York | 1465 Lawrence Avenue West | $53,025,000 | $8346,569 | per unit | Peter D. Senst, Venkat Ramadoss, Taylor Clements, Philip Jung, David Montressor, Tom Schuster (CBRE) & David Bloomstone, Ashley Martis, Jason Lay, Massimo Lorusso (TD Cornerstone Commercial Realty Inc.) |
Apartment | North York | 1450 Sheppard Avenue West | $53,025,000 | $292,956 | per unit | Peter D. Senst, Venkat Ramadoss, Taylor Clements, Philip Jung, David Montressor, Tom Schuster (CBRE) & David Bloomstone, Ashley Martis, Jason Lay, Massimo Lorusso (TD Cornerstone Commercial Realty Inc.) |
Industrial | Mississauga | 6390 Kestrel Road | $9,875,000 | $408 | per sq. ft. | Larry McBride (CDNGLOBAL Indusite Realty) & Hemant Gandhi (Homelife Maple Leaf Realty ) |
Greater Vancouver Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Retail | Vancouver | 4205 Dunbar St & 3606 West 26th Ave | $5,250,000 | $1,144 | per sq. ft. | Martin Moriarty, Mario Negris, Tate Venier (Marcus & Millichap) |
Apartment | Vancouver | 875 West 14th Avenue | $3,265,000 | $653,000 | per unit | John Dean (Engel & Volkers Vancouver) |
Industrial | Surrey | 20280 97th Avenue, #4 | $1,475,000 | $514 | per sq. ft. |
Greater Calgary Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Office | Calgary | 255 17th Avenue SW | $7,650,000 | $191 | per sq. ft. | |
Apartment | Calgary | 800 Mcneill Road NE | $2,350,000 | $293,750 | per unit | Shah Khan (CIR Realty) |
Apartment | Calgary | 2005 Ulster Road NW | $2,250,000 | $225,000 | per unit | Eric Horvath & Matt Gregory (Colliers) |
Greater Edmonton Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Industrial | Edmonton | 7620 Yellowhead Trail NW | $1,950,000 | $171 | per sq. ft. | Colin Ewanchyshyn & Craig Hummel (Remax Commercial) |
Apartment | Edmonton | 9932 88th Avenue NW | $1,800,000 | $150,000 | per unit | |
Industrial | Edmonton | 10808 209th Street NW | $1,775,000 | $295 | per sq. ft. |
Where Canada's office market stands heading into Q2 2026
Regional performance across Canada's major office markets diverged in Q1 2026, though most followed a broader downward trend in availability. According to Altus Data Studio analysis, the national availability rate contracted year-over-year, driven by sustained demand for Class AAA space and a construction pipeline at a multi-year low. Halifax remains the tightest market in the country, Edmonton posted the largest year-over-year improvement, and Toronto recorded six consecutive quarters of positive net absorption in the downtown core.
Figure 1: Office availability rate (Q1 2025 vs. Q4 2025 vs. Q1 2026)
INSIGHTS Spotlight
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Canadian office market update – Q1 2026
Regional performance across major Canadian office markets diverged notably in Q1 2026, though most regions followed a broader downward trend in availability
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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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