Insights · Market Reports

Commercial Property Market Reports.

Current market intelligence on industrial, land and investment property across Ontario and Alberta. Updated quarterly.

Ontario Industrial Markets · Q1 2025

GTA & Golden Horseshoe
Industrial Report.

Ontario industrial vacancy rates remain at historic lows across the Greater Toronto Area, with the Toronto City core approaching 0% vacancy and prime submarkets including Mississauga, Brampton and Vaughan holding below 2.5%. Rental rates for Class A product range from $35–$42+ net/SF in Toronto and Mississauga, compressing to $28–$34 in secondary markets including Durham Region and Hamilton. Investment demand remains strong, with cap rates for Class A industrial compressing to sub-4% in core GTA markets.

Toronto Core

~0% vacancy. $35–$42+ net/SF. No meaningful new supply in city core. Demand driven by last-mile logistics and urban distribution users.

Mississauga / Brampton

1–2.5% vacancy. $34–$38 net/SF. Canada's premier logistics hub. 400-series highway access. Tight availability at all size ranges.

Simcoe County / Barrie

<3% vacancy. $28–$32 net/SF. Hwy 400 corridor. 40–60% GTA pricing discount. Active Lucero sell mandates in this submarket.

Durham Region

<4% vacancy. $18–$24 net/SF. 401/407 access. 20–30% GTA discount. Emerging as a cost-competitive alternative for logistics and light manufacturing.

Toronto Market Mississauga Simcoe County Durham Region

Alberta Industrial Markets · Q1 2025

Calgary & Edmonton
Industrial Report.

Alberta's industrial markets offer compelling value relative to Ontario equivalents, with Calgary SE/NE holding vacancy below 3% and Edmonton's industrial belt tracking below 5%. Net rents range from $18+ in Calgary to $14+ in Edmonton — representing 40–60% discounts to comparable GTA product.

Calgary SE / NE

<3% vacancy. $18–$22 net/SF. QEII/Deerfoot access. Energy sector recovery driving logistics and manufacturing demand.

Edmonton Industrial Belt

<5% vacancy. $14–$18 net/SF. Anthony Henday corridor. Provincial capital market. Strong oil & gas services sector demand.

Airdrie / Balzac

New development. $20–$24 net/SF. QEII adjacent. Growing last-mile and logistics node north of Calgary.

Nisku / Leduc

Airport adjacent. $16–$20 net/SF. Heavy industrial permitted. Cold storage and energy services cluster.

Calgary Market Edmonton Airdrie / Balzac Nisku / Leduc

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