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Commercial real estate market at turning point as vacancies drop: report
Colliers said absorption topped new supply as office vacancy fell to 13.6% and industrial vacancy to 3.5%, signaling a more balanced market.
- On Monday, April 20, 2026, a new analysis found that national vacancy rates for both office and industrial properties declined simultaneously for the first time since 2020, signaling a potential turning point for Canada's commercial real estate sector.
- Adam Jacobs, head of research for Colliers Canada, noted that rapid return-to-office momentum, particularly in Toronto, has turned the market around quickly after five or six years of rising vacancy rates.
- Colliers International reported that the national office vacancy rate fell to 13.6 per cent in the first quarter, while industrial construction remained resilient with 5.6 million square feet of new projects breaking ground.
- Inventory growth is grinding to a near-total halt, as less than two million square feet of new office space is currently under construction, marking a significant downswing from the 2021 to 2023 period.
- Ben Haythornthwaite, CoStar Group's director of market analytics, predicted industrial markets will continue tightening, though the looming renegotiation of the Canada-United States-Mexico Agreement casts uncertainty over leasing activity in coming months.
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The Toronto Star+8 Reposted by 8 other sources
Commercial real estate market at turning point as vacancies drop: report
Canada's commercial real estate sector could be at a turning point after the national vacancy rates for both office and industrial properties simultaneously declined for the first time since 2020,
·Toronto, Canada
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The Canadian commercial real estate sector may be at a turning point after Canadian office and industrial property vacancy rates have simultaneously declined for the first time since 2020, according to a new analysis.
·Montreal, Canada
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The national vacancy rate of the offices was 13.6% in the first quarter of 2026. The post Vacancy rate in decline: the commercial real estate market at a turning point appeared first on Les Affaires.
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Total News Sources12
Leaning Left3Leaning Right1Center3Last UpdatedBias Distribution43% Left, 43% Center
Bias Distribution
- 43% of the sources lean Left, 43% of the sources are Center
43% Center
L 43%
C 43%
14%
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