Power, Storage, and Demand: The New Foundations of Canadian CRE

As we pass the midpoint of 2025, it’s clear this year is defining a new chapter in Canadian real estate—not by what’s being built in the spotlight, but by what’s taking shape just beyond it. While legacy asset classes like downtown office towers and suburban strip malls still have their place, it’s the shifting dynamics of less-conventional properties that are beginning to tell a far more interesting, and potentially more lucrative, story for investors.

At Amimar International, we’ve always believed in looking deeper than surface trends. The current market environment—shaped by evolving technologies, environmental imperatives, shifting consumer habits, and macroeconomic recalibrations—is ripe with opportunities in niche property types. Among these, data centres, cold storage facilities, student housing, and self-storage are not just gaining relevance; they are fast becoming the building blocks of tomorrow’s resilient, high-performing real estate portfolios.

Let’s begin with the new digital infrastructure that now forms the invisible scaffolding of every major city, economic system, and social interaction: the data centre.

Data Centres: Where Real Estate Meets the Cloud

Walk through any Canadian city, and you might not notice them—windowless buildings, fortified perimeters, few outward signs of activity. But inside, these facilities hum with energy, quite literally powering Canada’s digital economy.

Demand for data centres has surged in recent years due to the rapid expansion of cloud computing, the mainstreaming of AI, booming SaaS growth, and a data-heavy digital economy. In 2024 alone, Canada’s data centre market was valued at over $5.4 billion, and by 2030, it’s projected to more than double, passing $12 billion, according to recent market analysis by CBRE Canada.

What makes Canada particularly attractive in a global context is a combination of infrastructure, geography, and policy. The country’s cooler climate naturally reduces the energy burden of keeping servers from overheating. Its robust, renewable energy sources—particularly hydroelectric in Quebec and British Columbia—offer a valuable sustainability edge. Combine that with political stability, strong data privacy laws, and growing tech ecosystems in cities like Montreal, Toronto, Calgary, and Vancouver, and it’s no surprise that major players are scaling up operations here.

But this momentum isn’t just about giant tech behemoths building hyperscale facilities. The real story lies in the middle market—investors and developers who are seizing opportunities to convert redundant industrial sites, reinvigorate underused commercial plots, or participate in regional “edge” data centres that serve growing populations outside primary metros. Increasingly, those with the ability to partner with municipalities or utilities are finding opportunities to develop energy-efficient, ESG-forward centres that meet both digital and environmental demands.

For these stakeholders, data centres are more than a new asset—they’re a chance to future-proof portfolios, diversify away from volatility-prone sectors, and participate in a sector where vacancy is virtually nonexistent.

Cold Storage: The Hidden Engine of Canadian Logistics

Then we have a trend that—while perhaps less glamorous than data centres—is quietly becoming a critical part of Canada’s supply chain infrastructure: cold storage.

The pandemic accelerated a cultural and logistical shift already underway. Online grocery services, pharmaceutical delivery, direct-to-consumer food models, and even vaccine distribution created an overwhelming need for reliable, scalable refrigeration space. Cold storage, which once occupied a small fraction of warehouse square footage across the country, has now emerged as a crucial point of focus.

In 2024, Canada’s cold storage market surpassed $11 billion and is projected to nearly triple in size by the end of the decade, according to TechSci Research. And yet supply remains limited—building modern, efficient cold storage is expensive and technically complex. This mismatch between demand and existing capacity makes the sector especially attractive for forward-thinking capital.

Amimar International is seeing increasing activity from both institutional funds and experienced middle-market operators in this space. Whether it’s retrofitting warehouses outside Toronto or developing purpose-built temperature-controlled facilities near Vancouver’s port terminals, investors are tapping into a resilient revenue stream that’s supported not just by existing demand, but by long-term shifts in how people consume perishables, medicine, and even pet food. The tenants in this space—from major grocery chains to national pharmaceutical distributors—typically seek long-term leases, providing income stability for years to come.

Student Housing: Resilience in a Changing Demographic Landscape

Canada’s reputation as a top global education destination continues to fuel an influx of international students. In fact, by mid-2025, the country’s student population had not only rebounded from pre-pandemic levels but surged to all-time highs, with international enrollment increasing by over 35% in just three years.

Yet when it comes to housing, purpose-built accommodation has failed to keep pace. In cities like Montreal, Vancouver, and Hamilton, the student housing shortage is not just inconvenient—it’s acute. Fewer than one in five Canadian post-secondary students has access to dedicated student accommodations. The result is overcrowded apartments, higher rents, and increasing pressure on municipal housing markets.

These challenges, paradoxically, signal opportunity.

Student housing offers investors an unusually resilient niche within the multifamily sector. It’s largely recession-proof—students pursue higher education regardless of economic cycles—and the turnover, while frequent, is predictable and often synchronized with academic calendars. Because of rising land costs and limited university budgets for residential construction, there’s a growing opening for public-private partnerships and purpose-built developments near university campuses.

The performance data backs it up. Purpose-built student housing has proven its ability to deliver stable returns and high occupancy, especially in university cities with large commuter populations. Investors who understand the demographic trends and are willing to work closely with institutions stand to benefit from one of the most structurally undersupplied rental markets in the country.

Self-Storage: The Quiet Power of Flexibility

The final piece in this pivot toward niche sectors lies in a humble but increasingly essential service: self-storage.

Traditionally seen as a secondary or even overlooked asset, self-storage today is evolving in both urban and suburban contexts. Canada’s changing lifestyles—characterized by smaller living spaces, increased population mobility, delayed homeownership, and growing entrepreneurship—have moved self-storage from convenience to necessity.

Whether it’s a millennial downsizing in Vancouver, a small business operating out of a storage locker in Mississauga, or newly arrived immigrants using short-term storage while they settle, demand continues to expand in every city—large and small.

Unlike other real estate assets, self-storage properties are relatively low maintenance and benefit from a broad tenant base, making them remarkably resilient during downturns. The hybrid remote work landscape and rise in e-commerce further cement self-storage’s place in today’s economy. According to the Canadian Self Storage Association’s 2025 industry report, operators across the country report occupancy rates well over 90%, with rents steadily increasing year-over-year.

A Quiet Revolution, A Strategic Advantage

Taken individually, these sectors might look like outliers against the traditional real estate landscape. But together, they are forming the architecture of a new economy—one not built on square footage for its own sake, but on serving structural shifts in how Canadians live, work, consume, and connect.

At Amimar International, we see this inflection point not as a trend—but as a realignment. Investors willing to look beyond the obvious and engage with the specialized requirements these properties bring—technical design, regulatory insight, strategic locationing—are the ones best positioned to lead.

Because while it may not be obvious to the casual observer, the future of Canada’s middle-market real estate community will owe just as much to cold chains, cloud infrastructure, and student hubs as to high-rise towers or office campuses.

The question now is: Are you ready to invest in what’s next?

Amimar International provides advisory, development, and investment solutions across Canada’s evolving commercial landscape. To learn more about how we support investors in niche real estate opportunities, contact us today.

Sources:

• CBRE Canada, Canada Data Centre Report, 2025

• TechSci Research, Canada Cold Storage Market, 2024

• Statistics Canada, Postsecondary Enrolment Report, 2025

• Canadian Self Storage Association, Industry Insights, 2025