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Commercial real estate market at turning point as vacancies drop: report
Colliers said office vacancy fell to 13.6% and industrial vacancy to 3.5% as return-to-office demand and slower supply growth improved conditions.
- Canada's commercial real estate sector reached a turning point as national vacancy rates for both office and industrial properties declined simultaneously for the first time since 2020, according to Colliers International.
- The national office vacancy rate dropped to 13.6 per cent in the first quarter of 2026, marking one of the most significant improvements since the COVID-19 pandemic, as return-to-office momentum accelerated in major cities.
- Industrial construction remained resilient with 5.6 million square feet of new projects breaking ground, while market absorption outpaced new supply with more than 3.6 million square feet taken up during the quarter.
- Ben Haythornthwaite, CoStar Group's director of market analytics, said inventory growth is grinding to a halt, with less than two million square feet of new office space currently under construction.
- The looming renegotiation of the Canada-United States-Mexico Agreement casts a shadow of short-term uncertainty, potentially slowing leasing activity while stakeholders await trade outcomes.
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11 Articles
11 Articles
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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Winnipeg Free Press+7 Reposted by 7 other sources
Commercial real estate market at turning point as vacancies drop: report
Breaking News, Sports, Manitoba, Canada
·Winnipeg, 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.
Coverage Details
Total News Sources11
Leaning Left2Leaning Right1Center3Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 33%
C 50%
R 17%
Factuality
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