Canada industrial insights

Canada’s industrial market conditions shifted towards balance as vacancy continued to rise.

July 18, 2023
  • Chad Piche
  • Deborah Saunders
  • Marga Chan
  • Tristan Scott
  • William Schneider

National vacancy increased for the 3rd consecutive quarter to 1.9% as historically strong demand continued to ease. Toronto, Montreal and Vancouver all witnessed the most significant bumps in vacancy and availability as the slowdown was most noticeable in the nation’s most expensive markets. Under construction space hit a fresh cyclical high of over 50 million s.f. Moderating demand and strong expected deliveries over the next 12 -15 months will create more balanced market conditions in the coming quarters.


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Toronto industrial insight

Declining pre-leasing activity served as a strong driver of demising flexibility among landlords.     
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Calgary industrial insight

Calgary market remains active despite global economic headwinds.     
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Montreal industrial insight

Montréal’s landlord-favorable market continued to lose momentum as economic concerns persist. 
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Vancouver industrial insight

Vacancy surpassed the 1% mark for the first time since Q3 2021.     
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Winnipeg industrial insight

New space delivered to the market expected to briefly raise vacancy levels. 
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Southwest Ontario industrial insight

Industrial sector continued to perform despite economic headwinds.     
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Ottawa industrial insight

Modest rise in vacancy expected but industrial fundamentals remained strong.     
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Edmonton industrial insight

Vacancy edges up for the first time since 2020 but fundamentals remain strong.     
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Saskatchewan industrial insight

Saskatchewan's Industrial Market Demonstrates Resilience.     
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