Edmonton MarketBeat Reports

The third quarter of 2024 saw the Edmonton office market at a slight negative absorption total of 23k square feet (sf), bringing up the overall city-wide vacancy rate to 18.6%.

The second quarter of 2020 experienced positive absorption of 379,876 square feet (sf) in the Edmonton Industrial market, attributed to the completion of the 194,000-sf Cannabis Genomics Facility in Leduc/Nisku, and SMS Equipment signing a 108,000-sf lease at Northview Business Park II and their 167,000-sf expansion onto their existing building in Acheson, 

Edmonton’s retail market saw slight improvements in the first half of 2024, with overall vacancy dropping to 3.0%, down 60 bps from the second half of 2023. 

The multifamily sector saw 65 properties transact at $413.1 million in the first half of 2024, marking a slight decline from the preceding year’s $580.7 million sales volume – a year-over-year decrease of 28%. 

Edmonton’s commercial real estate investment market reported a total sales volume of $866.3 million in Q3 2024, reflecting a year-over-year (YOY) increase of 9.5%.