CRE This Week: What's impacting the Canadian market
August 26, 2026 - Canada commercial real estate market insights, indicators, and notable transactions
August 26, 2026
Welcome to the latest edition of CRE This Week, powered by Altus Data Studio.
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
750 Creditstone Road, 121 Pippin Road, York
$115,000,000
$332 per sq. ft.
Greater Vancouver Area: Industrial
#107, 7 King Edward Street, Coquitlam
$7,320,600
$763 per sq. ft.
Brokers: Blake Gozda, D. Nathan Kewin, Jeevan Bath (Cushman & Wakefield)
Greater Montreal Area: Industrial
805 Guimond Boulevard, Vieux-Longueuil
$36,500,000
$293 per sq. ft.
Greater Golden Horseshoe: Industrial
330 Gage Avenue, Kitchener
$6,750,000
$188 per sq. ft.
Greater Toronto Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Apartment | York | 165 Colborne Avenue | $12,000,000 | $300,000 | per unit | Dayma Itamunoala, Zoe Pratcher, Chris Bertucci, Yianni Tsiampas (Colliers) |
Retail | Old Toronto | 237 Yonge Street | $10,277,777 | $787 | per sq. ft. | Brandon Gorman, Jackson Safrata, Graham Smith, Philip Traikos (Jones Lang LaSelle) |
Office | Old Toronto | 12 Madison Avenue | $4,287,500 | $787 | per sq. ft. | Jackson Turner, Arlin Markowitz (CBRE) Mark Bleiwas, Zach Brewerton (Cresa) |
Greater Vancouver Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Retail | Surrey | 12830 96th Avenue | $33,200,000 | $608 | per sq. ft. | |
Industrial | Richmond | # 135, 11400 Twigg Place | $7,128,000 | $495 | per sq. ft. | Joel Barnett, Steve Brooke, Alex Mei (CBRE) |
Apartment | Burnaby | 6822 Arcola Street | $2,980,000 | $298,000 | per unit | Naomi Wang (Re/Max City Realty) |
Greater Montreal Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Retail | Candiac | 1-9 Montcalm Boulevard North | $12,000,000 | $190 | per sq. ft. | |
Industrial | Mirabel | 9460 Saint-Vincent Street | $10,500,000 | $328 | per sq. ft. | Michel Clermont, Simon Legault (Immodev Agence Immobilière) |
Apartment | Ahuntsic-Cartierville | 10620 du Bois-de-Boulogne Avenue | $9,850,000 | $281,429 | per unit | Marc-André Knot (Immeubles Gloria) |
Greater Golden Horseshoe
Sector | Municipality | Address | Price | Unit Price | Parameters |
|---|---|---|---|---|---|
Industrial | Brantford | 82 Morrel Street | $8,650,000 | $298 | per sq. ft. |
Retail | Hamilton | 109 Portia Drive | $8,350,000 | $617 | per sq. ft. |
Industrial | Guelph | 32 Monarch Road | $4,644,035 | $298 | per sq. ft. |
Market Indicators
H1 2026: GTA office volume up year-over-year, pricing down across most regions
In H1 2026, Canada's office market continued adjusting to shifting workplace preferences and return-to-office mandates, deepening the divide between stronger and weaker assets. Investment volume increased year-over-year in every region except Halton and Durham, with Toronto leading the market at nearly $864M, up 271%. Halton saw the steepest decline, down 66%. Despite rising volume, the GTA's overall average price per square foot fell by $43, as the flight-to-quality trend further weakened pricing for functionally obsolete Class B and C office buildings.
Figure 1: GTA office investment sales activity by region (2019-2026)
GTA office volume nearly doubled year-over-year as new supply slowed
In H1 2026, GTA office transaction volume reached nearly $1.2B, up 125% year-over-year, across 107 transactions. On the development side, four office projects were completed in Q2 2026, adding about 179,000 sq. ft. to national inventory, 17% of which remained unleased. Canada's office construction pipeline fell to a multi-year low, with 20 buildings and roughly 3.1M sq. ft. under development.
Figure 2: GTA office investment sales activity by quarter (2020-2026)
INSIGHTS Spotlight
Catch the latest research and insights from Altus
Toronto CRE market update – Q2 2026
Toronto’s CRE market in Q2 2026 experienced significant growth in investment activity, due to strong performance in multi-family, industrial, and office sectors.
About our research team
Edward Jegg
Research Manager, Data Solutions
Altus Group
Edward Jegg is a Research Manager, Data Solutions at Altus Group, with over 35 years of commercial real estate expertise. He delivers market intelligence across Canada, transforming complex data into actionable insights for investment decision-making. Edward is a recognized expert in real estate trends and recipient of BILD's Chair's Award of Merit.
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 CRE 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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