Figures
Halifax Industrial Figures Q3 2026
Large-scale leasing leads to tightening vacancy
October 16, 2026 5 Minute Read
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- Halifax’s overall industrial market recorded 353,000 sq. ft. of positive net absorption in Q3 2026, its strongest single-quarter result since Q4 2020, leading overall availability to decline 220 basis points (bps) to 5.6%.
- Growing defence and aerospace investment, including more than $3 billion in planned federal spending across Atlantic Canada, is strengthening Halifax’s role as a hub for maritime, defence and industrial activity.
- Activity was concentrated in the Halifax submarket, where the lease-up of Bayers Lake Industrial Centre contributed to approximately 360,000 sq. ft. of positive net absorption and lowered availability to 6.0%.
- Average net asking rents declined to $14.80 per sq. ft., reflecting a shift in the composition of available space as higher-quality industrial inventory was leased.
- While only 16,000 sq. ft. is officially under construction, site preparation and planned projects in Burnside Phase 13 point to a substantially larger wave of owner-occupied industrial development that may entering the pipeline in Q4.