CRE This Week: What's impacting the Canadian market
May 13, 2026 - Canada commercial real estate market insights, indicators, and notable transactions
May 13, 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: Retail
175 Yorkland Boulevard, North York
$17,628,290
$205 per sq. ft.
Greater Vancouver Area: Retail
13611 Smallwood Place, Richmond
$10,919,136
$604 per sq. ft
Greater Montreal Area: Office
11401-11451 Lacordaire Blvd, Montréal-Nord
$10,100,000
$190 per sq. ft.
Greater Calgary Area: Apartment
1711 12th Street SW, Calgary
$3,780,000
$236,250 per unit
Greater Toronto Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Office | Old Toronto | 95 Wellington Street West | $198,130,000 | $600 | per sq. ft. | Peter D. Senst & Jaysen Smalley (CBRE) |
Apartment | Oshawa | 710 King Street West | $10,400,000 | $416,000 | per unit | Jonathan Hittner, Neil Musselwhite. David Lieberman, Eamonn McConnell, Jonny Shaw (Avison Young) |
Retail | Mississauga | 2991 & 2993 Erin Centre Boulevard | $5,100,000 | $734 | per sq. ft. |
Greater Vancouver Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Apartment | Vancouver | 727 East 7th Avenue | $10,640,000 | $280,000 | per unit | Mark Goodman, Ian Brackett, Megan Johal (Goodman Commercial Inc.) |
Office | Burnaby | #701-702, 6378 Silver Avenue | $2,847,000m | $1,133 | per sq. ft. | |
Industrial | Richmond | #145, 8231 Cambie Road | $1,500,000 | $648 | per sq. ft. |
Greater Montreal Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Office | Plat-Mt-Royal | 300 Léo-Pariseau Street | $48,000,000 | $85 | m | James Palladino, Allan Eliskof (RBC Capital Markets Real Estate Group) |
Apartment | Laval | 3405-3413 René-Laennec Blvd | $35,500,000 | $362,245 | per unit | Guillaume Monast, Mark Sinnett, Sebastien Gatti, Marie-Claire Laflamme-Sanders (Avison Young) |
Industrial | Boucherville | 1485 de Coulomb Street | $34,900,000 | $146 | per sq. ft. | Philippe-Alexandre Bastien, Sara Leblanc, Yann Charles (Avison Young) |
Greater Calgary Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Office | Calgary | #102, 103, 106, 3016 5th Avenue NE | $16,660,000 | $182 | per sq. ft. | |
Apartment | Calgary | 1815 16A Street SW | $4,706,000 | $196,083 | per unit | Brad Wilson (Re/Max Realty Professionals) |
Apartment | Calgary | 2614 24th Street NW | $3,300,000 | $825,000 | per unit |
Toronto CRE market performance in Q1 2026
Greater Toronto Area commercial real estate investment remained relatively stable at $3.8 billion in Q1 2026, though performance varied considerably across sectors. Multi-family was a standout, posting a 232% year-over-year increase driven by broad-based momentum across key submarkets. Retail, by contrast, saw a significant pullback, with investment volume declining 66% as limited available inventory and elevated financing costs constrained activity. Read the full Q1 2026 Toronto CRE market update.
Figure 1: Toronto CRE transaction volume in Q1 2026, sector breakdown
Strengthening our Canadian leadership presence: Welcome back, Jason Lo!
We are pleased to welcome back Jason Lo as General Manager, Software & Data, Canada. Jason first joined Altus in 2014 through the acquisition of RealNet, a leading source of Canadian market data and the foundation of what is now Altus Data Studio. He brings over 30 years of experience across real estate, technology and data, along with deep commercial real estate relationships across the country. We look forward to what's ahead.
INSIGHTS Spotlight
Catch the latest research and insights from Altus
Investing in Canadian CRE in 2026: How data and AI are changing the way CRE decisions get made
On May 28th, we’re hosting a panel discussion with leaders from Newmark Canada and Centurion Asset Management to discuss data quality, AI adoption, and investment decision-making in Canadian commercial real estate.
What the CRE industry is still struggling with, and why it costs more now
Fragmented data, disconnected workflows, and manual reconciliation have always existed in CRE, here's why the cost of leaving them unresolved keeps growing.
Toronto CRE market update – Q1 2026
The Greater Toronto Area started the year with nearly $3.8 billion in total commercial real estate dollar volume transacted, down 3% year-over-year. The story varies significantly by sector.
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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