Canada Industrial Availability Rises to 6.2% in Q2 as 56% of Pipeline Space Stays Unleased
Updated
Updated · Altus Group · Jul 29
Canada Industrial Availability Rises to 6.2% in Q2 as 56% of Pipeline Space Stays Unleased
2 articles · Updated · Altus Group · Jul 29
Summary
Canada’s industrial availability rate reached 6.2% in Q2 2026, up 10 basis points from a year earlier, as occupiers slowed leasing decisions and kept space on the market longer.
Average net asking rents stabilized around C$15.50-C$16.00 per square foot after earlier declines, with older facilities facing the heaviest pressure while modern logistics assets held up better amid a flight to quality.
Developers delivered 28 buildings totaling 3.5 million square feet in the quarter, and 46% of that new space was still uncommitted; the active construction pipeline stood at 117 projects and 23.9 million square feet, 56% available.
Regional conditions diverged sharply: Calgary’s availability fell 110 basis points to 5.4%, Vancouver dropped to 5.9%, Toronto edged up to 4.8%, and Montreal climbed 90 basis points to 8.9%.
Altus said the second half of 2026 will likely remain a selective, fundamentals-driven market, with trade-policy uncertainty largely priced in and investors favoring modern, high-specification assets.