Canada industrial insights
Vacancy continued to trend upward in most Canadian industrial markets but demand is slowly returning as all markets except Montreal record positive absorption on the quarter.
- Chad Piche
- Deborah Saunders
- Anna MacDonald
- William Schneider
National industrial vacancy hit 4.5% on Q4, a 30 basis point increase since last quarter. Vacancy was up in the majority of Canadian markets including Montreal, Toronto and Vancouver. However, absorption rebounded notably in Q4, recording over 5 million s.f. of positive absorption on the quarter. Leading the way was Toronto, Calgary and Edmonton which all recorded over 1 million s.f. of absorption on the quarter.
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Toronto industrial insight
Quarterly net absorption turned positive for the first time this year.
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Calgary industrial insight
Vacancy holds steady throughout 2024 as the market trends towards stabilization following an influx of new construction deliveries.
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Montreal industrial insight
Industrial market shows signs of recovery as large-bay leasing gains momentum.
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Vancouver industrial insight
Quarterly absorption was positive for the first time since Q4 2023, while vacancy reached 3.6%.
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Winnipeg industrial insight
Vacancy falls 10 basis points to end the year at 4.1%.
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Southwest Ontario industrial insight
Record deliveries drives vacancy up in 2024.
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Ottawa industrial insight
Ottawa finishes the year with strong market activity.
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Edmonton industrial insight
Industrial market gearing up for a strong 2025.
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