Small-Bay Warehouses, E-Commerce, and Industrial Trends in 2026

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Jan 28, 2026

Chad Griffiths, a Canadian industrial real estate expert and author with 20+ years in the field, breaks down modern warehouse dynamics. He covers how e-commerce turned warehouses into essential logistics hubs. They discuss tariffs and 2025 leasing slowdowns, rising vacancy in Toronto, why small-bay industrial stays resilient, and what an ideal small-bay warehouse looks like.

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INSIGHT

E-Commerce Made Warehouses Front-Stage

E-commerce transformed industrial real estate from hidden backlots to visible distribution anchors near airports and major roads.
Chad Griffiths links two decades of industrial prominence directly to accelerating online retail demand and logistics needs.

ADVICE

Buy Time When Tariff Uncertainty Exists

If your business heavily depends on exports to the U.S., expect uncertainty to slow leasing decisions and consider buying time with short-term extensions or rollover clauses.
Re-evaluate exposure and only commit to long-term leases when tariff rules become clear.

INSIGHT

Small Vacancy Rise Still Healthy

Toronto's industrial vacancy rose from near 0% to about 5–6%, which is a significant move but still low by North American standards.
Chad Griffiths emphasizes slow new supply additions cushion landlords despite rising vacancy.

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Industrial real estate is reshaping markets across Canada and the U.S. — and 2026 will separate the informed from the unprepared.

In this episode of Commercial Real Estate Secrets, Aviva Sonenreich sits down with Chad Griffiths, widely recognized as a leading voice in industrial real estate in Canada and host of The Industrial Real Estate Podcast.

Together, they break down how warehouses evolved from overlooked assets into the backbone of the global economy, what tariffs, uncertainty, and rising vacancy really mean for industrial leasing and investing, and why small-bay industrial buildings continue to outperform across market cycles.

Key Topics Discussed:

Why industrial real estate demand surged across both Canada and the U.S.
How e-commerce permanently changed warehouse design and site selection
What rising vacancy (from ~0% to ~5–6%) actually means in major markets like Toronto
How tariffs and uncertainty stalled industrial leasing in 2025
What experienced operators are watching for industrial real estate trends in 2026
Why small-bay industrial continues to be one of the most resilient asset classes in North America
What the ideal warehouse investment property looks like (size, site coverage, layout, functionality)
Which industrial REIT Chad would hold long-term (Prologis)

If you’re a broker, investor, developer, or business owner evaluating warehouse space in Canada, the U.S., Denver, Toronto, or other major industrial markets, this episode provides grounded perspective on what’s actually happening—and how to think strategically heading into 2026.

About the Guest:

Chad Griffiths is a Canadian industrial real estate expert and host of The Industrial Real Estate Podcast. With over 20 years in the industry, Chad is known for his deep understanding of warehouse functionality, market behavior, and long-term industrial real estate trends across Canada and North America.

Connect with Chad: LinkedIn | X

About the Host:

Aviva Sonenreich is the Managing Broker of Warehouse Hotline and host of Commercial Real Estate Secrets. She is a third-generation commercial real estate owner and broker specializing in industrial real estate, warehouse strategy, investment analysis, and advisory services.

Connect with Aviva: LinkedIn | Website

Save this episode if you want a smarter framework for understanding industrial real estate, warehouse investing, and market strategy heading into 2026.