Figures

Waterloo Region Industrial Figure Q3 2026

Occupancy improving amid expanding supply

October 13, 2026 5 Minute Read

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  • Midwestern Ontario’s industrial market recorded 518,000 sq. ft. of positive net absorption, bringing year-to-date net absorption to 2.1 million sq. ft.
  • Overall availability declined from 6.6% to 6.3%, while vacancy fell from 3.6% to 2.9%, reflecting improving occupancy across the region. Both metrics continue to trend downward, each declining by 80 bps on a year-over-year basis.
  • Net asking rents edged down $0.01 quarter-over-quarter to $12.96 per sq. ft., remaining below $13.00 per sq. ft. for a fifth consecutive quarter. Average asking sale prices declined 5.7% to $247.07 per sq. ft. this quarter.
  • The under construction pipeline increased to 1.6 million sq. ft., supported by a series of project starts this quarter. New supply continues to enter the market at a steady rate, with year-to-date deliveries already exceeding the total reported in 2025.