Victoria Industrial Figures Q1 2026

‒    Industrial market conditions softened this quarter as availability increased to 6.0% alongside negative net absorption, reflecting rising space turnover. Despite easing conditions across all submarkets, the Victoria Core continued to outperform, supported by resilient rents and sustained tenant demand for limited functional space.

‒    Several large‑format industrial properties entered the market this quarter, contributing to a temporary increase in available space. This near‑term supply is not expected to signal a broader shift in market fundamentals, as demand for well‑located industrial assets remains strong and overall availability continues to be constrained by functional limitations in existing inventory.

‒    Industrial sales activity strengthened as owner‑occupiers, particularly automotive users, re‑entered the market, motivated by stable interest rates and rising lease costs. Tenants approaching renewals increasingly viewed ownership as a strategic alternative to leasing, supporting improved transaction volume early in the year.