Halifax Industrial Figures Q1 2026

‒    The Halifax Industrial market is off to a strong start in 2026, with 87,000 sq. ft being positively absorbed after three consecutive quarters of negative absorption.

‒    The industrial market saw availability rise 30 basis points (bps) quarter-over-quarter to 8.6%, as two vacant new construction spaces hit the market.

‒    Halifax recorded its largest new construction delivery of industrial space since 2024, with 158,500 sq. ft. completed within the Bayers Lake and Burnside Business Park.

‒    Net asking rental rates continues to trend upward, increasing by $0.15 quarter-over-quarter to reach $15.18 per sq. ft.

‒    Industrial development saw a sharp decline as the under construction pipeline drops to just 26,000 sq. ft, with building costs continuing to rise.