CRE This Week: What's impacting the Canadian market
June 3, 2026 - Canada commercial real estate market insights, indicators, and notable transactions
June 3, 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
921 Progress Avenue, Scarborough
$26,650,00
$299 per sq. ft.
Greater Vancouver Area: Retail
19360 Langley Bypass, Township of Langley
$19,729,176
$676 per sq. ft.
Greater Montreal Area: Hotel
900 Saint-Charles Street East, Vieux-Longueuil
$14,500,000
$102,837 per room
Greater Calgary Area: Office
4600 Crowchild Trail NW, Calgary
$9,250,000
$177 per sq. ft.
Greater Toronto Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Industrial | Scarborough | 921 Progress Avenue | $26,650,000 | $299 | per sq. ft. | |
Office | Old Toronto | 1 Queen Street East & 20 Richmond Street East | $145,500,000 | $289 | per sq. ft. | Peter D. Senst, Jaysen Smalley, Kai Tai Li, Connor Young (CBRE) |
Industrial | Vaughan | #7-8, 241 Hanlan Road | $8,100,000 | $450 | per sq. ft. | |
Industrial | North York | 366 & 368 Signet Drive | $5,560,000 | $463 | per sq. ft. |
Greater Vancouver Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Retail | Township of Langley | 19360 Langley Bypass | $19,729,176 | $676 | per sq. ft. | |
Apartment | Vancouver | 1150 Cotton Drive | $5,067,000 | $316,688 | per unit |
|
Industrial | Richmond | #135, 11920 Forge Place | $4,900,000 | $485 | per sq. ft. | Graham Williams (Cushman & Wakefield) |
Office | White Rock | #212, 1522 Finlay Street | $2,002,800 | $973 | per sq. ft. |
Greater Montreal Area
Sector | Municipality | Address | Price | Unit Price | Parameters |
|---|---|---|---|---|---|
Hotel | Vieux-Longueuil | 900 Saint-Charles Street East | $14,500,000 | $102,837 | per room |
Retail | Rosemere | 20 Bouthillier Street | $17,750,000 | $345 | per sq. ft. |
Apartment | Varennes | 152-210 Victor-Bourgeau Street | $10,200,000 | $340,000 | per unit |
Apartment | Saint-Bruno-de-Montarville | 1735 de Cambrai Street | $6,500,000 | $209,677 | per unit |
Greater Calgary Area
Sector | Municipality | Address | Price | Unit Price | Parameters | Brokers |
|---|---|---|---|---|---|---|
Office | Calgary | 4600 Crowchild Trail NW | $9,250,000 | $177 | per sq. ft. | |
Retail | Calgary | 5111 & 5235 Northland Drive NW | $133,537,028 | $348 | per sq. ft. | |
Industrial | Calgary | 5723 & 5725 Burbank Crescent SE | $2,200,000 | $237 | per sq. ft. |
|
Office | Calgary | 4103 Centre Street NW | $1,600,000 | $444 | per sq. ft. | Brandon Lau (Avenue Commercial) |
Market Indicators
Toronto apartment investment surges 232% year-over-year
GTA apartment building investment reached nearly $675 million in Q1 2026, a 232% jump year-over-year. The surge reflects a more predictable interest rate environment and stabilized valuations, though the operational picture is more nuanced: rising vacancy rates and declining rents are softening conditions for owners. Average price per unit came in at $315,795, down 8% from the same period last year.
Figure 1: GTA apartment building sales activity by quarter, 2019-2026
Regional breakdown: Toronto leads, York records no transactions
Greater Toronto Area apartment building investment picked up meaningfully in Q1, with 48 transactions over $1M recorded - more than double the 20 transactions logged in the same period last year. Toronto led regional growth, with nearly $564 million in dollar volume transacted. Halton followed with a 90% year-over-year increase, reaching $37 million. York region was the outlier, recording no transactions in the quarter.
Figure 2: GTA Apartment building sales activity by region, 2019-2026
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
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Learn how leading CRE firms are turning data into a true strategic advantage by embedding intelligence into core decision-making workflows.
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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