Industrial Real Estate Dominates Commercial Landscape in 2023

2023 Commercial Real Estate

The commercial real estate landscape in 2023 has showcased a significant trend, with industrial real estate emerging as the front-runner in terms of performance and demand. The latest findings from the RE/MAX 2023 Commercial Real Estate Report highlight the robust performance of industrial real estate in comparison to other asset classes within the Canadian market during the first quarter.

Toronto street view at dusk with urban buildings

Unveiling the Market Insights

The comprehensive analysis covered 12 distinct commercial real estate markets across Canada during the initial quarter of 2023. The report unveiled a notable pattern: industrial real estate maintained its lead by showcasing strong sales and lease activity across all markets. This remarkable performance has been consistent, with both property values and lease rates experiencing an upward trajectory.

Expansion and Changing Dynamics

The surge in interest from investors and end-users has led to noteworthy shifts in the real estate landscape, particularly in British Columbia and Ontario. The search for distribution and warehousing facilities has extended beyond provincial boundaries, with neighbouring regions offering more affordable pricing. This shift signifies a strategic approach to optimizing resources and capturing value.

Amplifying Impact and Beneficiaries

This ripple effect of heightened demand from provinces and key markets has significantly impacted industrial property sales in various locations, including Edmonton, Calgary, Regina, Saskatoon, London-St. Thomas, Halifax, and St. John’s.

Factors Driving Attraction

Several factors contribute to the attractiveness of these markets. The Alberta provincial government’s willingness to incentivize business migration is underscored by initiatives like the Alberta Investment and Growth Fund. Municipal governments are equally supportive, collaborating to enhance city infrastructure. Furthermore, the presence of “”inland ports”” in Edmonton and Calgary enhances logistical capabilities and accessibility.

Market Dynamics and Inventory Levels

While it is acknowledged that the demand might have softened from its peak in 2022 across most Canadian markets, the inventory levels of industrial real estate remain notably low. Despite the challenges faced by the industry, the resilience and sustained interest in industrial properties have contributed to maintaining these exceptional inventory levels.


The prominence of industrial real estate in the commercial sector during 2023 is undeniable. This trend underscores the adaptability and strategic decision-making of investors and end-users who recognize the potential for growth and value in this sector. As the industrial landscape evolves and continues to attract attention, it is evident that its influence will persist, reshaping the Canadian commercial real estate market.


SoldMaxx Team

Personalized Service:

Your unique needs and preferences are at the forefront of every transaction. We work closely with you to tailor our services to match your goals and aspirations.

Local Expertise:

"With years of experience serving, we have an in-depth knowledge of the local real estate markets, neighborhoods, and trends. We're here to help you find the perfect properties or sell your homes at the best possible prices.

Trust and Integrity:

Trusts are the cornerstones of our business. We uphold the highest ethical standards, providing transparent and honest guidance throughout your real estate journey.