Figures
Montreal Industrial Figures Q3 2026
Three quarters of positive absorption, overshadowed by narrow demand and trade uncertainty
October 14, 2026 5 Minute Read
Looking for a PDF of this content?
- The Greater Montreal Area (GMA) recorded 1.8 million sq. ft. of net absorption in Q3 2026, the strongest quarter since Q4 2021 and brings year-to-date net absorption to 3.2 million sq. ft.
- Availability fell 30 basis points (bps) to 6.3%, a third consecutive quarterly decrease from the 6.8% peak recorded in Q4 2025, while vacancy dropped 70 bps to 5.5%.
- Net absorption was concentrated: Laval and Montréal-North accounted for 57% of the GMA total, and the top five submarkets for 88%.
- Transactions above 75,000 sq. ft. represented approximately 54.0% of leasing volume as occupiers continued to favour modern, higher-clear-height product.
- Asking net rents declined for an eleventh consecutive quarter to $13.78 per sq. ft., down 16.1% from the Q4 2023 peak.
- Year-to-date new supply of 1.5 million sq. ft. is the lowest since 2020, though the under-construction pipeline rose 24% quarter-over-quarter to 1.8 million sq. ft. as Rosefellow and Montoni broke ground on phase 2 projects in Laval.