QuadReal Leases More Than 7 Million Square Feet Across Canadian Portfolio in 2025, Led by Industrial Real Estate

QuadReal leased more than seven million square feet across its Canadian office and industrial real estate portfolios in 2025, the global real estate investment, development and operating company announced, completing more than 400 transactions across Eastern and Western Canada.

Industrial real estate accounted for the majority of activity, with more than five million square feet leased nationally and occupancy levels above 90% across both regions. Office real estate leasing exceeded two million square feet across more than 130 transactions, supported by return-to-office trends and tenant demand for higher-quality space.

Industrial Real Estate Leads QuadReal's Canadian Portfolio

Industrial leasing was the primary driver of QuadReal's 2025 performance, with sustained demand for logistics and distribution space in well-located urban markets underpinning activity. The firm cited continued development momentum in high-demand markets as a contributing factor to the sector's strength.

In Western Canada, QuadReal's industrial portfolio delivered more than 2.1 million square feet of leasing across 57 transactions. Notable activity included Amazon's long-term recommitment at 109 Braid, leasing at NorthWest Business Park in Winnipeg, and approximately 600,000 square feet of transactions completed in Calgary.

Office Leasing Surpasses 2 Million Square Feet Amid Flight-to-Quality Demand

QuadReal's office real estate portfolio recorded more than two million square feet of leasing activity nationally in 2025, driven by what the firm described as a continued flight to quality. Tenants prioritized transit access, modern amenities, and workplace environments designed to support collaboration and employee wellness, according to the announcement.

In Vancouver, a notable transaction involved the immediate backfill of Amazon's space at 745 Thurlow through Royal Bank's expansion. Broadway Tech Centre secured nearly 200,000 square feet of commitments during the year. In Calgary, proactive leasing at Jamieson Place helped offset a major upcoming lease expiry through new headlease agreements with Gibson Energy and Certarus.

QuadReal noted that continued investment in shared spaces, tenant amenities, and building upgrades supported leasing momentum across its office holdings and reinforced long-term competitiveness. The firm's Western Canada office portfolio recorded nearly 800,000 square feet of activity in 2025.

Western Canada Activity Totals Approximately 3 Million Square Feet

Across Western Canada, QuadReal completed approximately three million square feet of leasing across 150 transactions in 2025, spanning both office and industrial assets.

"Across the West, we witnessed a consistent flight to quality," said Scott Taylor, Executive Vice President, Commercial, Western Canada at QuadReal. "Industrial remained resilient," Taylor added, according to the firm's announcement.

The Western Canada results reflect activity in Vancouver, Calgary, and Winnipeg, with the firm pointing to proactive asset management and ongoing capital investment as factors supporting leasing outcomes across its regional portfolio.

Portfolio Strategy Underpins Results

QuadReal's 2025 leasing results reflect the firm's broader portfolio management strategy across its Canadian holdings. The company operates as a global real estate investment, development, and operating platform, with its Canadian portfolio spanning office and industrial assets in major markets.

The firm's approach — encompassing ongoing capital investment in building upgrades, shared amenities, and tenant services — was cited as a factor in sustaining leasing momentum across both asset classes. QuadReal's industrial focus has been a consistent theme in its Canadian portfolio strategy, with the firm maintaining high occupancy levels nationally.