Commercial Real Estate Market of the Month: Trois-Rivières, QC

Trois-Rivières Industrial Market: Strategic Transportation, Limited Supply, and Long-Term Growth

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Trois-Rivières Industrial Market Overview

The Trois-Rivières commercial real estate market continues to strengthen its position as one of Québec’s most strategically located industrial hubs. Situated between Montréal and Québec City, the market benefits from exceptional transportation connectivity, a diversified industrial base, and sustained investment in infrastructure.

Its location at the intersection of Highways 40 and 55, combined with direct access to the Port of Trois-Rivières and regional rail infrastructure, makes the city an attractive destination for manufacturers, distributors, and logistics operators serving both provincial and national markets.

As businesses continue seeking cost-effective alternatives to larger metropolitan markets, industrial demand has remained resilient, supported by the city’s central location and efficient transportation network.

Why Trois-Rivières Is a Key Commercial Real Estate Hub

Industrial demand across Trois-Rivières remains healthy despite a modest return to normal in market conditions. Vacancy continues to sit below long-term historical averages following several years of strong leasing activity, while functional industrial space remains relatively limited—particularly modern facilities offering higher clear heights and efficient loading configurations.

Demand continues to be driven by a diverse mix of occupiers, including:

• Manufacturers
• Distribution and logistics companies
• Transportation providers
• Food processors
• Service businesses
• Automotive-related users

The Cap-de-la-Madeleine submarket has become a recognized hub for automotive repair facilities, dealerships, and automotive parts suppliers, making it one of the city’s most active industrial clusters.

Although older multi-tenant industrial inventory remains common throughout the market, well-maintained buildings continue to command premium rental rates due to the limited availability of high-quality industrial product.

Development Activity and Growth Areas

Several major public and private investments are strengthening the long-term outlook for the Trois-Rivières commercial real estate market.

The planned expansion of the Carrefour 40-55 Industrial Park will introduce additional serviced industrial land, with new sites expected to become available by 2029 and vertical development anticipated shortly thereafter.

Other notable projects include:

• Expansion of the Olymel La Fernandière facility
• Development of Kruger Recycling’s approximately one-million-square-foot operation
• The ongoing $312 million modernization of the Port of Trois-Rivières, improving cargo handling capacity and regional trade connectivity

While these investments continue to reinforce the city’s industrial base, much of the new development is being delivered on a build-to-suit basis, limiting the amount of speculative industrial space entering the leasing market.

Municipal planning initiatives are also supporting long-term industrial growth through infrastructure improvements and the servicing of new employment lands along the Highway 40 and Highway 55 corridor.

Key industrial areas include:

• Carrefour 40-55 Industrial Park – the city’s premier logistics and industrial node with excellent highway connectivity.
• Thomas Bellemare Industrial Park – home to manufacturing, warehousing, distribution, and service-oriented businesses.
• Cap-de-la-Madeleine – a well-established automotive-focused industrial district.
• Centrally located industrial properties offering strong visibility and customer accessibility.

The continued expansion of District 55 is also encouraging redevelopment activity, with some older industrial properties transitioning toward retail or mixed-use developments where higher-value uses are supported.

Market Performance: Rental Rates, Supply, and Demand

Industrial leasing activity remains relatively strong, although rental growth has moderated following several years of significant increases.

Current market conditions generally reflect:

• Older industrial properties leasing between $8.00 and $10.00 per square foot net
• Well-maintained, centrally located facilities achieving approximately $12.00 to $15.00 per square foot net
• Limited speculative construction
• Continued redevelopment of underutilized industrial properties and former retail sites into mixed-use projects

While rental rates have largely stabilized, the availability of modern industrial space remains constrained, particularly for businesses requiring functional buildings with efficient loading and highway access.

Key Takeaways for Commercial Real Estate Tenants

Although leasing conditions have become more balanced than in recent years, securing high-quality industrial space within the Trois-Rivières industrial market remains competitive.

Businesses should consider the following:

• Modern industrial facilities continue to experience strong tenant demand.
• Buildings offering higher clear heights, quality loading configurations, and highway accessibility remain in limited supply.
• Much of the upcoming development pipeline is intended for owner-occupiers or build-to-suit projects, reducing future speculative leasing opportunities.
• Companies planning future expansion should begin their site selection process early and engage landlords or developers well in advance of occupancy requirements.

As additional industrial land becomes available through the Carrefour 40-55 expansion, opportunities are expected to improve over the longer term, although competition for premium facilities is likely to remain strong.

Trois-Rivières Commercial Real Estate Outlook

The Trois-Rivières commercial real estate market continues to strengthen its role as one of Québec’s leading secondary industrial markets. Strategic transportation infrastructure, a diversified industrial economy, and continued public and private investment are supporting long-term market stability.

While rental growth has moderated, limited speculative development and constrained availability of modern industrial space will continue to encourage proactive planning among tenants.

Major projects—including the Carrefour 40-55 Industrial Park expansion, the modernization of the Port of Trois-Rivières, and significant manufacturing investments—are reinforcing the city’s long-term competitiveness. As industrial demand continues to evolve alongside infrastructure improvements, Trois-Rivières remains well positioned for tenants, developers, and investors seeking long-term opportunities within Québec’s industrial real estate market.

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Looking to lease industrial real estate in Trois-Rivières, QC? Our tenant-focused advisors are here to help you navigate the market with tailored insights and on-the-ground expertise.

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Our Market Intelligence team is committed to helping you stay ahead of the curve by identifying key trends that maximize both space and operational efficiency. With customized insights grounded in real-time data and extensive industry expertise, we ensure you’re equipped to make informed decisions in this competitive market.