Stoneleigh Brokerage Report | February 2026

GTA Industrial Leasing Snapshot

Each month, we analyze GTA industrial fundamentals to provide decision-ready insight. Our focus is simple: translate market data into strategy.

February’s data confirms the market’s continued transition toward stability. Pricing has moderated from peak levels, supply and demand are moving in balance, and leverage is gradually shifting back toward prepared tenants.

This environment rewards timing, discipline, and informed negotiation.

Stability Is Here. Leverage Is Shifting.

The February data confirms what we’re seeing on the ground: the market has normalized.

As illustrated in Figure 4 – Average Asking Net Rents vs. Year-Over-Year Rental Growth, asking rents have moderated from their 2023 peak and are now stabilizing at $16.38 PSF. Rental growth has cooled significantly, reinforcing the transition from a landlord-driven sprint market to a more balanced environment.

The shift is most visible in rental growth trends below.

Figure 4 | Average Asking Net Rents vs. Year-Over-Year Rental Growth

Source: CBRE - "Toronto Industrial Figures (Q4 2025)", "Average Asking Rents and Net Rental Rate Growth"

Market Fundamentals

• Average Asking Net Rent: $16.38 PSF

• Quarterly Demand: ~4.3M SF

• Quarterly New Supply: ~4.3M SF

• Availability: ~5.0%

• 2026 Forecasted Deliveries: 7.3M SF

• 2027 Forecasted Deliveries: 7.7M SF

What This Means for Tenants

• Pricing discipline has replaced peak-era acceleration

• Negotiations are increasingly driven by terms and incentives

• Building quality and execution speed matter more than headline rent

• Early planning creates leverage

How Stoneleigh Supports Our Clients

In a stabilizing market, execution matters more than ever. Our brokerage team provides:

• Lease renewal strategy & early negotiation planning • Market rent benchmarking & incentive analysis • Relocation advisory & site selection • Landlord representation & asset positioning • Portfolio review & hold/sell strategy

For strategic leasing guidance, contact our brokerage team.

905-404-6562 leasing@stoneleighmgmt.ca

Data Sources: CBRE Toronto Industrial Figures (Q4 2025)

Check it out here: