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Cushman & Wakefield
Ottawa Retail MarketBeat H2 2025
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.
RetailOttawaOntario
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Cushman & Wakefield
Montreal Industrial MarketBeat Q4 2025
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.
Industrial & LogisticsMontrealQuebec
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Cushman & Wakefield
Ottawa Office MarketBeat Q4 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.
OfficeOttawaOntario
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Cushman & Wakefield
Edmonton Multifamily MarketBeat H1 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.
MultifamilyEdmontonAlberta
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Avison Young
Metro Vancouver Industrial Market Report
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%.
Industrial & LogisticsVancouverBritish Columbia
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Cushman & Wakefield
Vancouver Office MarketBeat Q1 2026
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.
OfficeVancouverBritish Columbia
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Avison Young
Vancouver Office Market Report
The Avison Young Metro Vancouver office market report for Q1 2026 tracks market fundamentals including a vacancy rate of 11.8% (down from 12.4% in Q4 2025), 8.0 million square feet available, $55.11 average gross asking rent per square foot, and 321,000 square feet of absorption in the quarter. Small and mid-sized tenants are driving leasing momentum particularly in the 3,000 to 8,000 square foot range, tenant requirements are becoming more function-focused, and elevated inducements remain central to leasing negotiations as the market gradually rebalances.
OfficeVancouverBritish Columbia
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Avison Young
Vancouver Multifamily Market Report
Vancouver's multifamily market report by Avison Young covers H1 2025 trends, noting that nearly 20,000 rental units are under construction as of July 2025 despite structural challenges expected to create supply shortfalls in 2-3 years, while the market has shifted toward buyers with cap rates exceeding 4%, vacancy at 1.9%, average rents at $2,830 per month, and annual rent declines of 7.0%. The report identifies private capital as increasingly dominant as institutional investors retreat, with activity concentrated in value-add segments and well-located competitively-priced assets, while zoning reforms and federal programs support affordable housing development.
MultifamilyVancouverBritish Columbia
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Cushman & Wakefield
Oklahoma City Office MarketBeat Q1 2026
Oklahoma City's office market in Q1 2026 showed a 28.8% vacancy rate with $19.78 asking rent per square foot, driven by an economy with 3.6% unemployment (below the 3.4% national average) and diversified employment across energy, aerospace, technology, and manufacturing sectors. The market has experienced measured supply growth with 6,000 square feet of year-to-date net absorption, sustained leasing in North and Northwest submarkets, and is seeing tenant demand shift toward smaller, higher-quality spaces supported by generous tenant improvement allowances ranging from $30–$50 to $75–$100 per square foot for shell space.
OfficeOklahoma CityOklahoma
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Cushman & Wakefield
Toronto Office MarketBeat Q1 2026
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.
OfficeTorontoOntario
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Cushman & Wakefield
Pittsburgh Industrial MarketBeat Q1 2026
The Pittsburgh industrial market posted 166,330 square feet of net absorption in Q1 2026 following its first year of negative absorption since 2017, with the overall vacancy rate holding steady at 6.3% while warehouse/distribution space continued to drive leasing activity at approximately 400,000 square feet leased for the quarter. Manufacturing space accounted for 43.6% of total new leasing activity in Q1 2026 compared to 13.7% in 2025, pushing total quarterly leasing to just under 920,000 square feet, a 42.8% increase over Q1 2025, with just 385,000 square feet under construction across the entire metro.
Industrial & LogisticsPittsburghPennsylvania
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Cushman & Wakefield
Vancouver Industrial MarketBeat Q1 2026
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.
Industrial & LogisticsVancouverBritish Columbia
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Avison Young
Greater Toronto Office Market Report Q1 2026
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.
OfficeTorontoOntario
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Cushman & Wakefield
Pittsburgh Office MarketBeat Q1 2026
Pittsburgh's office market in Q1 2026 experienced a marginal increase in overall vacancy to 17.4% amid year-to-date net absorption losses of 251,400 square feet, with asking rents at $25.77 per square foot across all property classes. Despite elevated vacancy, Class A space in the Central Business District remains in high demand with limited supply, enabling landlords to maintain pricing power and achieve 6.3% rent growth since the 2024 bottom, while expansion activity by tenants suggests some correction of earlier aggressive downsizing decisions.
OfficePittsburghPennsylvania
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Cushman & Wakefield
Vancouver Retail MarketBeat Q4 2025
Cushman & Wakefield's Vancouver Retail MarketBeat for year-end 2025 reports that overall retail vacancy rose to 6.8% across the market, with regional malls declining to 10.1% vacancy despite Hudson's Bay and Saks Off 5th closures, community malls rising to 3.4%, and core office tower retail at 9.3%, while high-street asking rents remained stable to strong with Alberni Street commanding the highest rate at $173.33 per square foot. British Columbia's economy is expected to grow 1.2% in 2026 with retail sales projected to moderate to 2.8% growth, though retail strata sales transactions remained subdued in 2025 with average pricing reaching $1,133 per square foot while developers increasingly incorporate income-generating components like hotels into mixed-use projects to improve financial viability.
RetailVancouverBritish Columbia
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Newmark
Pittsburgh Office Market Overview 4Q25
Pittsburgh's office market showed early signs of stabilization in 2025, with positive net absorption in the third and fourth quarters helping to reduce overall vacancy to 24.4% by year-end, while Class A rents remained flat at approximately $29.59/SF and Class B edged modestly upward to $22.57/SF. The local economy outperformed national trends with Pittsburgh's unemployment at 3.9% versus 4.4% nationally as of September 2025, job growth led by Education and Healthcare at 3.8% and Financial activities at 2.3%, though the market experienced zero speculative office construction in 2025 due to persistent high vacancy and rising construction costs.
OfficePittsburghPennsylvania
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Cushman & Wakefield
New Jersey Industrial MarketBeat Q4 2025
New Jersey's industrial market in Q4 2025 achieved 28.8 million square feet of new leasing activity—the third-highest annual total on record—with the Turnpike Corridor accounting for 70.5% of year-to-date activity, though the vacancy rate rose to 8.9% due to 4.4 million square feet of new deliveries and 2.2 million square feet of negative net absorption in the fourth quarter. The Port of New York and New Jersey recorded a 2.9% year-over-year increase in container volume through November, while overall asking rent declined 4.8% year-over-year to $16.60 per square foot, with Class A warehouse and distribution properties showing stronger resilience than non-Class A assets.
Industrial & LogisticsNorthern New JerseyNew Jersey
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Cushman & Wakefield
New Jersey Office MarketBeat Q4 2025
New Jersey's office market recorded its third consecutive quarter of positive net absorption in Q4 2025, with 758,000 square feet of year-to-date gains and an overall vacancy rate of 21.9% (16.4% using the median vacancy rate metric), while asking rents remained flat year-over-year at $32.33 per square foot. Northern New Jersey drove momentum with 1.6 million square feet of annual net occupancy gains and a declining vacancy rate, though Central New Jersey faced headwinds from major tenant departures including Sanofi's 467,149-square-foot sublease listing and MetLife's 400,000-square-foot exit in Bridgewater.
OfficeNorthern New JerseyNew Jersey
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Cushman & Wakefield
Oklahoma City Office MarketBeat Q4 2025
Oklahoma City's office market in Q4 2025 showed a 29.6% overall vacancy rate with negative year-to-date net absorption of 305,000 square feet and an asking rent of $19.18 per square foot, supported by strong economic fundamentals including 2.9% unemployment, 18% metro population growth since 2010, and diversification beyond energy into aerospace, technology, and manufacturing sectors. The market outlook indicates a shift toward smaller, high-quality spaces concentrated in North and Northwest submarkets, with tenant improvement allowances nearly doubling to $75–$100 per square foot for shell space and adaptive reuse projects converting office buildings to residential uses expected to help reduce vacancy pressures.
OfficeOklahoma CityOklahoma
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Newmark
Richmond Office Market Report 1Q26
The Richmond Office Market Overview for 1Q26 analyzes the Richmond metropolitan area's office sector, finding that the market experienced 89,000 SF of negative net absorption during the first quarter, ending with a 12.8% vacancy rate while rents increased 2.9% year-over-year to $23.52/SF. Major transactions included the sale of the Cox Road Portfolio (300,364 SF) and the Stony Point Portfolio (357,251 SF), while the region's economy remained strong with a 3.6% unemployment rate significantly below the national 4.4% average and office-using employment at 188,100 employees, 4.4% above pre-pandemic levels.
OfficeRichmondVirginia
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