GTA Commercial Real Estate Update | June 2026

Tight Vacancy, Steady Demand, and Elevated Rents Continue to Shape the Market

Durham’s industrial market remains active, with limited vacancy and continued demand across key employment areas. While broader GTA availability has increased due to new supply, well-located industrial space continues to move quickly, especially in markets supported by highway access, functionality, and strong regional growth.

Recent Market Indicators:

• Durham vacancy: approximately 1.7%

• GTA industrial availability: approximately 5.0%

• Broader Durham vacancy estimate: approximately 6.0%

• Current industrial net rents: approximately $16.00 PSF

• GTA leasing activity: approximately 7.9M SF in Q4 2025

These indicators suggest that Durham remains relatively tight, even as broader market availability has increased.

Vacancy Snapshot

Durham Remains One of the Tighter Industrial Markets

Durham continues to report low vacancy compared to broader regional availability.

• Durham vacancy remains low

• GTA availability reflects increased supply

• Broader Durham estimates vary by source and submarket

• Quality industrial space may still be limited

• Low vacancy supports continued market stability

Source: Land & Investment Group, Durham Region Interactive Data Hub; DR Group, Durham Region Commercial Real Estate Update; CBRE Q1 2026 Toronto Industrial Figures.

Key Takeaway:

Durham remains one of the tighter industrial markets in the region, even as broader availability trends have become more balanced.

Rent & Leasing Activity

Industrial Rents and Leasing Activity Remain Strong

Industrial rents remain elevated, while leasing activity continues to show steady demand.

• Current industrial net rent: approximately $16.00 PSF

• GTA Q4 2025 leasing activity: approximately 7.9M SF

• Functional industrial space remains in demand

• Tenants should monitor timing, costs, and availability

• Owners should remain focused on leasing strategy and tenant retention

Source: DR Group; TRREB Commercial Realty Watch, Q4 2025. Data summarized for market commentary

Key Takeaway:

• Rents remain strong, and leasing activity continues to reflect demand for quality industrial space across the GTA.

Why This Matters:

For Tenants

• Begin renewal, relocation, or expansion planning early

• Limited quality options may reduce flexibility

• Elevated rents continue to impact occupancy costs

For Owners and Investors

• Low vacancy supports stable market fundamentals

• Strong positioning and proactive leasing remain important

• Well-located assets continue to benefit from ongoing demand

Need Help Navigating the Market?

SMI Brokerage Services can assist with:

• Leasing

• Renewals

• Relocations

• Acquisitions

• Dispositions

• Market Strategy

Whether you are renewing, relocating, expanding, acquiring, or evaluating your current space, SMI Brokerage Services can help you make informed real estate decisions.

Contact SMI Brokerage Services info@stoneleighmgmt.ca | 905-404-6562

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