CRE This Week: What's impacting the Canadian market
January 14, 2026 - Canada commercial real estate market insights, indicators, and notable transactions
January 14, 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: Industrial
7 Heritage Road, Markham
$5,850,000
$287 per sq. ft.
Brokers: Eva Destinus, Ilana Brown, Ryan Hood (Avison Young)
Greater Vancouver Area: Industrial
6600 Fraserwood Place, Richmond
$13,250,000
$427 per sq. ft.
Brokers: JSteve Caldwell, Mackenzie Fraser (Lee & Associates)
Greater Montreal Area: Office
6750 de l'Esplanade Avenue, Rsmt-Petite-Pat
$9,717,679
$100 per sq. ft.
Greater Golden Horseshoe Area: Apartment
212 Belmont Avenue West, Kitchener
$3,300,000
$235,714 per unit
Greater Toronto Area transactions
Sector | Municipality | Address | Price | Unit price | Parameter | Brokers |
|---|---|---|---|---|---|---|
Apartment | Etobicoke | 4340 Bloor Street West | $30,500,000 | $354,651 | per unit | Steve Keyzer & Alex Holiff (Colliers) |
Industrial | North York | 25 Dyas Road | $24,299,999 | $325 | per sq. ft. | Colliers (Taylor Farris) - Listing Christopher Vyriotes & Michael King (Colliers), Jay Goldenberg & Noah Schwartz (Lennard Commercial) |
Office | Mississauga | 5750 Explorer Drive | $22,800,000 | $211 | per sq. ft. | Nicholas Kendrew, Dominic Delapenha, Kim Selke, Sunny Hayer (Colliers), Bal Parmar (Intercity Realty) |
Greater Vancouver Area transactions
Sector | Municipality | Address | Price | Unit price | Parameter | Brokers |
|---|---|---|---|---|---|---|
Industrial | Abbotsford | 2031 Paramount Cresent | $6,600,000 | $349 | per sq. ft. | Matt Syberg-Olsen & Boe Iravani (Marcus & Millichap) |
Apartment | Burnaby | 512 Springer Avenue | $6,350,000 | $396,875 | per unit | |
Office | Abbotsford | 2296 McCallum Road | $3,693,000 | $463 | per sq. ft. | Joey Yoo (Marcus & Millichap) |
Greater Montreal Area transactions
Sector | Municipality | Address | Price | Unit price | Parameter |
|---|---|---|---|---|---|
Apartment | Ville-Marie | 1421-1439 Argyle Avenue | $25,000,000 | $252,525 | per unit |
Apartment | Vill-St-M-P-Ext | 7430 Lajeunesse Street | $13,000,000 | $325,000 | per unit |
Apartment | Sainte-Thérèse | 12-18 Napoléon Street | $10,000,000 | $312,500 | per unit |
Greater Golden Horseshoe Area transactions
Sector | Municipality | Address | Price | Unit price | Parameter |
|---|---|---|---|---|---|
Industrial | Waterloo | 70 Belcan Place | $5,000,000 | $192 | per sq. ft. |
Industrial | Cambridge | 250 Pinebush Road | $4,500,000 | $345 | per sq. ft. |
Office | Hamilton | 2 Health Street | $1,700,000 | $292 | per sq. ft. |
ECONOMIC PRINT
Canada commercial real estate market indicators
7 CRE shifts we're watching in 2026
Our Canadian Research team has outlined the key signals they’re watching as the market resets. From capital deployment and development feasibility to demographics, costs, and demand patterns, this 2026 watchlist highlights where small shifts could start to compound and shape the next phase of Canadian CRE. Flip through the carousel here.
Tourism spending advanced modestly in 2025 amidst shift from foreign to domestic tourists
Tourism trends matter for CRE performance, especially in hotels and parts of retail. Total tourism spend rose 2% last year in inflation-adjusted terms, but the mix shifted toward domestic travellers as international visitation dipped to just over 23 million (about 1 million fewer than the year prior), led by a 6% decline in U.S. visitors. Accommodation captured the biggest lift, supported by a 9% increase in domestic spending at hotels and other lodging.
INSIGHTS Spotlight
Catch the latest research and insights from Altus
How investor demands for transparency are reshaping valuation workflows
Investors are asking tougher questions about why values moved, and many fund teams are still piecing together answers across spreadsheets and siloed systems. This article explains what is driving the shift and shares practical ways to make valuations easier to trace, explain, and stand behind.
Multifamily myth busting, data, and what actually matters
The biggest risk in multifamily right now isn’t oversupply, it’s misunderstanding the data. Jay Parsons joins CRE Exchange to unpack where public housing datasets fall short, why headline narratives around supply, rents, and defaults spread so quickly, and how investors should interpret conflicting signals as the market moves into its next phase.
IMPORTANT DATES
Hear from our experts
Peter Norman
Vice President and Economic Strategist, Altus Group
Session:
Forum Friday: 5th Annual Economic Outlook Webinar
Ontaro Professional Planners' Institute
January 30
12:00pm ET
About our research team
Ray Wong
Vice President, Data Solutions
Altus Group
Ray is the Vice President, Data Solutions, Client Delivery team with the Altus Group and has over 30 years of market research experience. He works closely with both internal and external clients to provide timely information and industry insights about the Canadian market and at a global scale. Ray is regularly asked to speak at various industry events and answer media outlet requests.
Peter Norman
Vice President and Economic Strategist
Altus Group
Peter Norman is a recognized leader in commercial real estate economics and strategic market insights. As vice president and economic strategist, Norman drives thought leadership initiatives, economic forecasting, and innovative solutions to industry challenges, reinforcing Altus Group’s position as a market leader. With 30 years of experience as a prominent economist, Norman combines a deep understanding of economic principles with a talent for communicating complex concepts clearly and persuasively.
Edward Jegg
Research Manager
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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