CRE This Week: What's impacting the Canadian market
August 5, 2026 - Canada commercial real estate market insights, indicators, and notable transactions
August 5, 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: Apartment
8 Godstone Road, North York
$52,085,000
$317,591 per unit
Brokers: Michael Betsalel & Earl Kufner (JLL)
Greater Vancouver Area: Industrial
1589 Riverside Road, Abbotsford
$8,117,500
$500 per sq. ft.
Brokers: Michael Farrell & Joe Lehman (Avison Young)
Greater Ottawa Area: Retail
545 West Hunt Club Road, Nepean
$8,250,000
$377 per sq.ft.
Brokers: Richard Getz, Candice Lerner-Fry, Fraser Paddison (Marcus & Millichap); Scott Brooker & Jessica Whiting (Cushman & Wakefield)
Greater Calgary Area: Apartment
1324 1st Street SW, Calgary
$4,225,000
$192,045 per unit
Brokers: Joy Daklala (Fleming Realty)
Greater Toronto Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Apartment | Aurora | 145 & 147 Wellington Street West | $85,500,000 | $419,118 | per unit | RBC Capital Markets Real Estate Group & CBRE Limited |
Retail | Etobicoke | 2267 Islington Avenue | $23,500,000 | $242 | per sq. ft. | Duncan Yang (Ernst & Young) |
Industrial | Caledon | 85 Healey Road | $5,500,000 | $447 | per sq. ft. |
Greater Vancouver Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Industrial | Burnaby | 3905 2nd Avenue | $3,475,000 | $800 | per sq. ft. | Stonehaus Realty |
Apartment | Vancouver | 2425 Alma Street | $3,280,000 | $410,000 | per unit | Taylor Durham, Jackson Tang, Crosbie Desbrisay (NAI Commercial) |
Office | Vancouver | 1930 Pandora Street, #306 | $2,744,000 | $800 | per sq. ft. |
Greater Ottawa Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Apartment | Ville de Gatineau | 40-55 Charles‑Albanel Street | $35,750,000 | $158,186 | per unit | |
Industrial | Ottawa | 883-891-897 Boyd Avenue | $3,400,000 | $186 | per sq. ft. | |
Apartment | Ville de Gatineau | 45 de l'Hotel‑de‑Ville Street | $2,799,000 | $233,250 | per unit | Patrick Vaillant (Sotheby's International Realty Quebec) & Erik Ménard (Keller Williams Distinction) |
Greater Calgary Area
Sector | Municipality | Address | Price | Unit Price | Parameters |
|---|---|---|---|---|---|
Industrial | Calgary | 11056 48th Street SE | $10,500,000 | $208 | per sq. ft. |
Retail | Calgary | 7215 Macleod Trail SW | $4,500,000 | $889 | per sq. ft. |
Industrial | Calgary | 7121 107th Avenue SE | $4,300,000 | $276 | per sq. ft. |
Market Indicators
Canada's industrial market holds steady as occupiers shift to quality
According to Altus Data Studio, Canada's industrial market posted its fourth consecutive quarter of positive net absorption in Q2 2026, with national availability edging up just 10 basis points year-over-year to 6.2%. The modest rise reflected cautious occupier behaviour more than oversupply, as tenants consolidated rather than expanded and consistently chose modern, high-spec space when they did commit. National net asking rents stabilized in the $15.50 to $16.00 per square foot range, though older, lower-spec inventory faced more meaningful rate pressure.
Figure 1: Industrial completions and availability (Q2 2026)
Industrial sector regional performance diverges as Alberta leads and Montreal climbs
Calgary led the country with availability dropping 110 basis points year-over-year to 5.4%, while Edmonton, Vancouver, and Southwestern Ontario also tightened. Toronto and Montreal diverged, with Toronto stabilizing and Montreal climbing 90 basis points to 8.9%, driven by speculative supply and a mismatch between aging Island inventory and modern tenant requirements. Halifax remained the highest nationally at 12.4%, gradually correcting from a peak of 13.6%.
Figure 2: Industrial availability (Q2 2025 vs. Q1 2026 vs. Q2 2026)
INSIGHTS Spotlight
Catch the latest research and insights from Altus
Canadian industrial market update – Q2 2026
Canada's industrial availability rate hit 6.2% in Q2 2026, up 10 bps year-over-year, as cautious leasing and disciplined development defined the market.
Canadian office market update – Q2 2026
Canada's office market hit 15.6% availability in Q2 2026 as return-to-office mandates and record-low construction pipelines tightened conditions nationally.
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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