Montreal Industrial Market Report

Trade headwinds to further drive up vacancy. After a slow start to the year, leasing activity rebounded over the summer. The recovery was most pronounced in suburban submarkets such as West Island and Laval, where net absorption exceeded 1 million square feet between June and September. Lachine also posted strong third-quarter demand, supported by new leasing activity near Montréal International Airport. Looking ahead, renewed U.S. trade tensions could again temper leasing momentum in the metro, although the impact is expected to be less severe than in 2025.