CRE This Week: What's impacting the Canadian market
September 16, 2026 - Canada commercial real estate market insights, indicators, and notable transactions
September 16, 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
1617 Victoria Park Avenue, Scarborough
$14,150,000
$239,831 per unit
Brokers: Patrick Harris, Geoff Roberts, Nick Macdonald, Alexander Dobell (Cushman & Wakefield)
Greater Vancouver Area: Office
2665 Renfrew Street, Vancouver
$35,000,000
$429 per sq. ft.
Greater Montreal Area: Apartment
239 Deguire Boulevard, Saint-Laurent
$47,000,000
$254,054 per unit
Greater Golden Horseshoe: Industrial
900 Maple Grove Road, Cambridge
$13,800,000
$255 per sq. ft.
Greater Toronto Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Office | Markham | 165 Commerce Valley Drive West | $25,700,000 | $306 | per sq. ft. | Nicholas Kendrew, Patrick Cowie, Kim Selke, Kennedy Banks (Colliers) |
Industrial | Vaughan | 151 Creditview Road | $24,000,000 | $955 | per sq. ft. | |
Retail | Vaughan | 9088 Jane Street | $16,000,000 | $1,116 | per sq. ft. |
Greater Vancouver Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Apartment | North Vancouver | 1240 St. George Avenue | $12,250,000 | $382,813 | per unit | David Venance, Patrick Hannah, Chris Harper, Alexander Priatel (Cushman & Wakefield) |
Industrial | Richmond | Unit 183, 6355 Graybar Road | $7,268,010 | $578 | per sq. ft. | |
Retail | Surrey | Unit 107, 8140 120th Street | $3,497,400 | $861 | per sq. ft. |
Greater Montreal Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Industrial | Baie-d'Urfé | 19301 Clark-Graham Avenue | $20,448,000 | $232 | per sq. ft. | |
Apartment | Saint-Laurent | 1215 Alexis-Nihon Boulevard | $15,400,000 | $240,625 | per unit | |
Industrial | Anjou | 9300 Ray-Lawson Boulevard | $11,250,000 | $115 | per sq. ft. | Brendon Batista, Jean-Marc Dubé (Colliers) |
Greater Golden Horseshoe
Sector | Municipality | Address | Price | Unit Price | Parameters |
|---|---|---|---|---|---|
Industrial | Kitchener | 1604 Victoria Street North | $20,000,000 | $239 | per sq. ft. |
Apartment | Barrie | 94 Sanford Street | $3,400,000 | $283,333 | per unit |
Retail | Hamilton | 892 Upper James Street | $2,125,000 | $759 | per sq. ft. |
Market Indicators
National investment volume and drivers of resilience
According to Altus Data Studio, Canada's CRE investment volume reached more than $24 billion in H1 2026, up 19% year-over-year, supported by Bank of Canada rate stability and 3.3% annualized GDP growth in Q2. Capital concentrated on prime multi-family and strategically located office assets, while speculative construction remained largely deferred. The GTA led in absolute volume at nearly $10.2 billion, while Ottawa and Montreal were the primary drivers of national growth.
Figure 1: Canada’s total investment activity YTD – All sectors by region (Q1 2025 vs. Q1 2026)
National sector-level performance
Multi-family and office led national growth in H1 2026, with volumes surging 67% to $6.9 billion and 61% to $2.7 billion respectively. Industrial reached nearly $6.2 billion (up 24% YoY) as the market stabilized, with availability holding at 6.1%. Retail remained constrained by limited premium inventory rather than weakening demand, with sharp regional variation.
Figure 2: Canada’s property transactions by asset class (Q2 2025 vs. Q2 2026)
INSIGHTS Spotlight
Catch the latest research and insights from Altus
Canadian CRE market update – Q2 2026
Total national investment volume for the first half of 2026, excluding the Alberta markets , reached $24.1 billion, supported by year-over-year increases of 67% in multi-family and 61% in office activity, with growth concentrated in the eastern markets. The full story covers investment trends and volume across sectors and regions, core drivers of resilience and performance, and the outlook for the rest of 2026.
Vancouver CRE market update – Q2 2026
Vancouver investment activity contracted in H1 2026, with total dollar volume declining 23% year-over-year as capital shifted toward defensive, income-oriented opportunities. The full report covers sector-level performance across the Greater Vancouver Area, featured transactions, and our research team's market outlook.
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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