The industry's own research.
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Vancouver CRE contracted 14% year-over-year to $1.9 billion in Q1 2026 as investors shifted toward defensive, income-focused strategies.
Edmonton recorded 96,144 square feet of positive net absorption in Q1 2026, with overall vacancy holding steady at 15.4%, as downtown strength—driven by the Financial district and Government cluster—offset modest suburban softness. The market is shifting toward "flight to experience" strategies where high-tier properties emphasize hospitality-driven services and plug-and-play solutions, while tenants increasingly favor flexible lease terms and furnished suites to manage build-out costs and timelines.
Ottawa's industrial market in Q1 2026 experienced a declining vacancy rate of 5.3% with net absorption of 88,000 square feet and asking net rents reaching $16.75 per square foot, though the economic outlook remains challenging with the city recording the largest employment decline in Ontario between February 2025 and February 2026, losing 30,500 jobs. Leasing activity declined to 157,000 square feet in Q1 2026, with notable decreases in Suburban East offset by stronger activity in Suburban West, while direct net asking rents continued rising across both western and eastern submarkets.
Montreal's office vacancy in the Greater Montreal Area declined to 17.8% in Q1 2026, driven by strengthening demand for top-tier assets in the Downtown Core. The industrial vacancy rate also declined modestly quarter-over-quarter in Q1 2026, reversing part of the increase witnessed through Q3 2025.
The Greater Montreal Area office market in Q1 2026 experienced a total availability rate of 18.4%, down from the previous quarter, with positive net absorption of 252,000 square feet marking the fifth consecutive quarter of growth since 2019. Sublease space declined to 10.9% of available inventory (its lowest level since 2021), while residential conversion projects added 417,000 square feet to the 1.2 million square feet already converted, and a major office sale of the Deloitte Tower to DekaBank for $279 million ($540 per square foot) indicated signs of recovery in higher-quality assets.
This is a market report published by Colliers in March 2026 covering the office sector in Calgary's Beltline and suburban areas for the first quarter of 2026.
This is a quarterly industrial market data report published by CBRE in March 2026 covering the Ottawa market in Ontario, Canada.
This is a market report published by Colliers in March 2026 covering the office sector in Montreal, Quebec, Canada during the first quarter of 2026.
This is a market report published by JLL in March 2026 covering office sector dynamics in Ottawa during the first quarter of 2026.
This is a quarterly market report published by JLL in March 2026 covering industrial real estate dynamics in Ottawa, Ontario. The report addresses the industrial sector in Ottawa during the first quarter of 2026.
The Edmonton Industrial Market Report for Q1 2026 from Avison Young documents Greater Edmonton's industrial market conditions, noting 12,044 square feet of negative absorption with vacancy remaining flat at 3.8%, driven partly by a single large-scale older generation property of 277,606 square feet entering the market. The report identifies three key market drivers: defense industry positioning linked to Canadian Forces Base Edmonton and the Royal Canadian Air Force's anticipated Western Main Operating Base; recreation operators (pickleball clubs, climbing facilities, sports leagues) leasing mid-size industrial spaces between 15,000 to 45,000 square feet; and data centre development momentum around powered sites including the Keephills project involving TransAlta, CPP Investments, and Brookfield, and Project Greenlight in Sturgeon County backed by Pembina, Kineticor, and OPTrust.
The Montreal Q1 2026 industrial market report by Savills analyzes the Greater Montreal Area's industrial real estate market, noting that the region experienced a second quarter of positive absorption in three years as the market shows recovery signs. The report identifies Amazon's departure from Quebec as a major factor that exacerbated rising vacancy by 0.7% of inventory, though vacancy increases have begun to slow at 180 basis points above the prior year as businesses resume leasing activity after pandemic and tariff-related decision delays.
The Edmonton office market in Q1 2026 experienced positive absorption of 23,278 square feet, reducing the city-wide vacancy rate to 17.8%, with gross asking rents at $32.51 per square foot across all property classes. Notable activity included ATCO's announced relocation to ATCO Centre (accommodating approximately 1,200 employees), the Intact Building sale for $24 million at a 10.22% capitalization rate, and increased downtown foot traffic following the Alberta government's October 2025 announcement of mandatory full-time in-office work beginning February 2026.
This is a market report published by JLL in March 2026 covering retail sector dynamics in Ottawa, Ontario, Canada.
The Greater Montreal Investment Review reports that the Greater Montreal Area saw a 35% year-over-year increase in investment volume in 2025, reaching $10.1 billion in transaction volume for the first half of the year, with multi-residential assets jumping 105%, industrial assets declining 31%, shopping center sales rising 48%, and office transaction volume increasing 22%. Canadian private investors accounted for 57% of all transactional volume in 2025.
Calgary's office market in Q1 2026 recorded 46,589 square feet of city-wide absorption with an overall vacancy rate of 22.8%, down 0.1% from the previous quarter, while downtown faced structural headwinds from energy sector consolidation and M&A activity with a 27.6% vacancy rate, though the Beltline and suburbs showed resilience with respective vacancy rates of 15.6% and 16.2%. Startup energy companies and residential conversions emerged as positive drivers, with investor confidence reflected in strategic acquisitions including Dominium's $60 million purchase of the Imperial Oil campus in Quarry Park and other notable transactions in the suburban and urban submarkets.
This is a Q1 2026 market report published by Colliers covering the industrial sector in Montreal, Quebec, Canada.
The Edmonton industrial market recorded 87,529 square feet of net absorption in Q1 2026, reducing overall vacancy to 5.7%, with the Southeast and Leduc/Nisku submarkets leading positive leasing momentum. Alberta's real GDP growth is expected to moderate to 2.0% in both 2026 and 2027 amid geopolitical headwinds, while construction activity is projected to accelerate with over 1,000,000 square feet expected for completion by year-end 2026, with approximately 77% already pre-leased.
This is a market report published by JLL in March 2026 covering industrial sector dynamics in Edmonton, Alberta during the first quarter of 2026.
Office-using employment in Quebec contracted 0.9% year over year as of February 2026, driven largely by declines in information, culture and recreation sectors. The Greater Montreal Area's office vacancy rate fell 50 basis points from the prior year to 17.0%, its lowest level since mid-2024, with Class A and transit-connected properties continuing to lead leasing activity.
The Calgary Industrial Market Report Q1 2026 covers leasing activity, construction trends, and land acquisition patterns in Calgary's industrial sector, finding that speculative construction surged with over 4 million square feet slated for delivery by 2027, while owner-users dominated sales activity at 68% of total volume compared to 50% in 2025, with the overall vacancy rate at 4.3%. The report notes that despite negative absorption in the large format segment, demand is growing steadily, land prices increased 12% per acre year-over-year, and 2.4 million square feet of the 4.4 million square feet under construction is pre-leased.
This is a market report published by JLL in Q1 2026 covering industrial sector dynamics in Calgary, Alberta. The report examines conditions and trends in the Calgary industrial market as of the first quarter of 2026.
Calgary office vacancy reached 21.2% in Q1 2026, down 200 basis points from a year ago. Industrial vacancy was essentially flat at 5.2%, up just 10 basis points from the prior quarter, while retail vacancy rose to 4.7% at year-end 2025 from 3.6% in Q3 2025.
The Greater Montreal Area industrial market report for Q1 2026 shows stabilization after an extended adjustment period, with a vacancy rate holding at 7.6% and positive absorption of 554,000 square feet in the first quarter. Industrial demand remains positive but more targeted toward operational efficiency and flexibility, while approximately 2.4 million square feet are under construction, representing a significantly scaled-back development activity relative to existing inventory.
Edmonton's rental market demonstrated resilience through 2025 with rents reaching new highs despite elevated vacancy and substantial construction activity, supported by strong population inflows of young adults attracted to affordability and employment in public administration, health care, logistics, and technology. The report projects that steady in-migration, improved labor conditions, and Edmonton's affordability advantage will sustain moderate, inflation-paced rent growth through 2026 as the market absorbs elevated completions.
This is a first-quarter 2026 data report on the Ottawa office market published by CBRE on March 31, 2026.
This is a quarterly data report published by CBRE on March 31, 2026, presenting office sector figures for downtown Calgary, Alberta, Canada for the first quarter of 2026.
This is a market data report published by CBRE on March 31, 2026, presenting industrial sector figures for Edmonton, Alberta for the first quarter of 2026.
Ottawa's office market in Q1 2026 experienced rising vacancy to 13.3%, its highest level since Q4 2024, driven by significant job losses of 30,500 in the prior year and challenging economic conditions in the federal services sector. Despite increased vacancy, leasing activity rebounded to 305,000 square feet in Q1 2026, while overall average direct net asking rent decreased slightly to $17.72 per square foot.
This is a first-quarter 2026 market report on the Calgary office sector published by JLL on March 31, 2026.
This is a data figures report published by CBRE on March 31, 2026, presenting office sector metrics for Edmonton, Alberta in the first quarter of 2026.
Calgary's retail market in Q1 2026 showed a total vacancy rate of 3.2% with 46.5 million square feet of inventory and average achieved rents of $37.60 per square foot, supported by a resilient economy, strong labour market, and healthy demand for grocery-anchored and service-based retailers. The report identifies three key trends: evolving consumer preferences driving demand for experiential and convenience retail, federal-provincial childcare funding reshaping the market with increased absorption of commercial real estate by non-profit operators, and Competition Bureau enforcement creating new legal risks around exclusivity clauses and restrictive covenants in retail leases across all sectors.
This is a data-figures report published by CBRE on March 31, 2026, presenting first-quarter 2026 office market figures for suburban Calgary, Alberta, Canada.
This is a market report published by Colliers in March 2026 covering the industrial sector in Ottawa, Ontario, Canada.
Ottawa's retail market experienced rising vacancy and mixed performance across property types in the second half of 2025, with overall vacancy increasing 140 basis points to 4.9% as regional malls surged to 10.3% vacancy following Hudson's Bay closures that added over 330,000 square feet of vacant space. Overall gross asking rent increased modestly by $0.12 per square foot to $41.99 psf, while community malls showed positive absorption and downtown core rents rose to $53.22 psf, though the broader economy faced headwinds with Ottawa's unemployment rate reaching 7.3% and the national rate at 6.5% in November 2025.
This is a market report published by JLL on December 31, 2025, covering office sector dynamics in Edmonton, Alberta, Canada for the fourth quarter of 2025.
Ottawa's office market in Q4 2025 recorded a 12.3% overall vacancy rate with year-to-date net absorption of negative 34,000 square feet, while asking gross rent stood at $36.75 per square foot across all property classes. The report documents that Canada's unemployment rate declined to 6.5% in November 2025, but Ottawa's rate rose to 7.3%, and leasing activity in the quarter totaled 270,000 square feet, down quarter-over-quarter, with particular weakness in the Central Class A market.
Edmonton's retail market demonstrates resilience with a 4.9% vacancy rate (up 0.4% from 2024), 37.9 million square feet of total inventory (up 365,000 sf from 2024), 543,000 square feet under construction year-to-date 2025, and average base rent of $36.14 per square foot (up $3.88 from 2024), signaling ongoing recovery and stability following pandemic disruptions. The document identifies three key retail trends: Edmonton leads Canada in per capita retail expenditures driven by energy-sector employment and population growth; federal-provincial childcare funding has reshaped the market toward non-profit and preschool-only operators; and Competition Bureau enforcement has placed new scrutiny on exclusivity clauses and restrictive covenants in retail leases across all sectors.
This is a quarterly market report on the Ottawa office sector published by Colliers as of the fourth quarter of 2025. The report covers office market conditions and activity in Ottawa, Ontario, Canada.
Montreal's industrial market closed Q4 2025 with a 7.6% overall vacancy rate and asking net rent of $14.60 per square foot, with negative net absorption of 5.3 million square feet year-to-date marking the second-lowest annual total in five years, though the trend improved gradually each quarter. U.S. tariffs concentrated on steel, aluminum, and lumber—key components of Quebec's economy—pose potential economic headwinds expected to dampen Montreal's economic growth in 2026, while mid-bay spaces continued to see strong demand despite large-bay spaces experiencing downward pressure.
This is a market report published by Colliers in June 2025 covering the retail sector in downtown Montreal during the first half of 2025.
Edmonton's multifamily rental market in the first half of 2025 experienced moderated migration growth, a 3.1% vacancy rate as of October 2024, and median rents of $1,295 for one-bedroom and $1,629 for two-bedroom units—both below national averages. The market fundamentals show 127 total properties sold with $779.1 million in sales volume year-to-date, an unemployment rate of 7.3%, and multiple developments in the construction pipeline expected to deliver over 1,500 new rental units by 2026, with The Parks downtown introducing 363 units in the first half of 2025.
This is a market report published by Colliers on June 21, 2026, covering the retail sector in Greater Vancouver, British Columbia for the first half of 2026.
This is a market report published by JLL in March 2026 covering the industrial sector in Montreal, Quebec, Canada during the first quarter of 2026.
This is a market report on the Toronto office sector published by Colliers in the first quarter of 2026. The report covers office market conditions and activity in Toronto, Ontario, Canada.
This is a market report published by Colliers in Q1 2026 covering the office sector in Vancouver, British Columbia, Canada.
This is a data figures report published by CBRE on March 31, 2026, presenting office sector metrics for suburban Toronto in the first quarter of 2026.
This is a market report published by JLL in March 2026 covering retail market conditions and dynamics in Montreal, Quebec. The report provides analysis of the Montreal retail sector during the spring 2026 period.
This is a market report published by Colliers in the first quarter of 2026 covering the industrial sector in Vancouver, British Columbia, Canada.
Vancouver's industrial market in Q1 2026 posted a 4.4% vacancy rate with 537,000 square feet of year-to-date net absorption and asking rents of $18.98 per square foot, as vacancy declined for the first time in 12 consecutive quarters while new construction deliveries remained minimal at 574,000 square feet. Leasing activity hit post-2022 highs with 2.78 million square feet of deals signed, though industrial sales remained disciplined with average pricing softening to $534 per square foot amid a prolonged repricing cycle, and the broader economy faced near-term headwinds from demographic and trade pressures before expected recovery in 2027.
The Greater Toronto office market experienced significant recovery in Q1 2026, with the overall availability rate declining 160 basis points to 17.6% and vacancy falling 140 basis points to 15.7%, driven largely by strong leasing activity that added 2.1 million square feet across the region. Downtown Toronto led the recovery with availability dropping to 15.5% and vacancy to 13.1%, while zero new office building completions occurred during the quarter, with only 1.4 million square feet from CIBC Square Phase II remaining under construction and scheduled for Q2 2026 delivery.
This is a quarterly industrial sector report published by CBRE on March 31, 2026, presenting data and figures for the Vancouver market in British Columbia, Canada.
This is a retail market report published by JLL in March 2026 covering the Vancouver market dynamics during the spring season. The report addresses the retail sector in Vancouver, British Columbia, Canada.
This is a data report published by CBRE on March 31, 2026, presenting office sector figures for Montreal in the first quarter of 2026.
This is a market report published by JLL in March 2026 covering the industrial sector in Vancouver, British Columbia.
Metro Vancouver's office market in Q1 2026 recorded an 11.2% overall vacancy rate with 263,000 square feet of year-to-date net absorption and asking rents at $53.68 per square foot, as vacancy declined by 20 basis points quarter-over-quarter despite minimal new construction and only one office building completion. Downtown Vancouver's vacancy fell to 13.9% with leasing activity rebounding to 502,000 square feet, driven by tenants upgrading to higher-quality Class A space, while across the broader metro region 17 office projects totaling 1.2 million square feet remain under construction with nearly 55% pre-leased, and sublease inventory continued its tenth consecutive quarter of decline as the market gradually rebalances toward direct space.
Toronto's office market entered 2026 with improving fundamentals as downtown vacancy declined to a three-year low of 14.4% in Q1 2026 while asking rents reached $52.41 per square foot across all property classes, with the Financial Core leading recovery but suburban markets showing uneven performance. GTA-wide new leasing activity totaled 2.6 million square feet, up 31.9% year-over-year and the strongest first-quarter performance since 2018, though downtown leasing cooled 48.5% quarter-over-quarter from the prior year's surge while Class A rent growth re-emerged at approximately 110 basis points quarterly amid a highly segmented recovery across asset classes and submarkets.
The Metro Vancouver industrial market report for Q1 2026 indicates that overall vacancy tightened to 4.1% from 4.5% in the previous quarter, with strong demand concentrated in smaller units under 10,000 square feet and large-bay units exceeding 100,000 square feet, while new supply remained constrained at 768,409 square feet. Development activity shifted toward tenant-specific build-to-suit projects, which accounted for 50% of new construction starts totaling just over 900,000 square feet of the 1.1 million square feet that broke ground, while speculative and strata development declined sharply to 22% of starts from a 2025 average of 63%.
This is a data-figures report published by CBRE on March 31, 2026, presenting industrial sector figures for Toronto in the first quarter of 2026.
This is a market report on the Toronto industrial sector published by Colliers in the first quarter of 2026. The report covers industrial real estate activity and market conditions in Toronto, Ontario, Canada during that period.