Montreal industrial market report
Q2 2026
Gradual stabilization and more selective demand
In the second quarter of 2026, the Greater Montréal industrial market recorded strong activity despite essentially stable total availability. Positive net absorption of 964,000 sf exceeded new supply, while vacancy declined to 7.4%, pointing to a shift in the composition of supply. New supply is also gradually gaining traction, with more than 3.3 msf under development, including approximately 2.57 msf currently offered for preleasing. In this context, asset quality remains central to demand: buildings constructed between 2010 and 2020 have a 5.0% vacancy rate, compared with 11.6% for buildings constructed before 1980.
7.4%
Vacancy edges lower
The Greater Montréal industrial vacancy rate declined to 7.4% in Q2 2026, down 0.2% from Q1 2026.
964,000 sf
Positive absorption in 2026
Net absorption totalled 964,000 sf in Q2 2026, outpacing new supply and pointing to sustained leasing activity across Greater Montréal.
3.3 msf
Industrial projects under construction
More than 3.3 msf of industrial projects are currently under construction in Greater Montréal, with 2.6 msf are already in preleasing.
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