Figures

Victoria Industrial Figures Q3 2026

Proposed zoning and tax reforms support long-term industrial investment and growth

October 15, 2026 5 Minute Read

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  • Greater Victoria’s industrial market continued to stabilize in Q3 2026, as availability declined 10 basis points (bps) to 5.9% with positive net absorption in the Peninsula and Westshore submarkets.
  • Demand remained focused on well-located industrial premises with modern specifications, while rising renewal costs in the Victoria Core may shift some tenant interest toward the Westshore.
  • Broader economic and tariff-related uncertainty tempered leasing and investment activity, with industrial sales and owner-occupier demand expected to remain subdued in the near term.
  • Proposed municipal zoning reforms in the Victoria Core and the federal Productivity Mega Deduction could support industrial intensification, capital investment, and longer-term demand for modern facilities.