Figures
London Ontario Industrial Figures Q2 2026
Negative absorption and rising vacancy signal slower industrial market activity
July 17, 2026 5 Minute Read
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- London's industrial market recorded 324,000 sq. ft. of negative net absorption in Q2 2026, with vacancy increasing for a third consecutive quarter as availability expanded across most submarkets.
- Industrial availability rose to 6.5%, driven in part by 66,000 sq. ft. at 4350 Castleton Road being returned to the market as some occupiers look to economize. Net asking rents remained unchanged at $10.74 per sq. ft., supported by a high proportion of availabilities comprising of Class A space.
- Activity was muted as industrial businesses and investors weigh several headwinds including revised interest rate expectations, uncertainty surrounding trade with the U.S., and a rebalancing of capital towards higher returns. London held up relatively well overall, with manufacturing employment and GDP both growing in Q2.