Waterloo Region Industrial Figures Q1 2026

‒    Over 900,000 sq. ft. of new industrial supply delivered this quarter across the Waterloo Region and was 86.6% pre-leased. The majority of this product was design build, which heavily contributed towards the 1.2 million sq. ft. of positive net absorption.

‒    Net absorption has continued to trend higher across most of the region, reaching a quarterly total of 1,151,740 sq. ft., the highest since Q4 of 2023. This made up about a quarter of the national net absorption for the quarter, surpassed only by the Toronto region.

‒    Available space remains elevated, as the overall vacancy rate held steady at 4.2%, while the availability rate declined slightly to 6.8%. The availability rate of properties with clear heights above 26’ has declined from its multi-year peak of 4.0% seen last quarter, now at 3.6%.