Edmonton MarketBeat Reports

The Edmonton office market posted absorption of 70k square feet (sf) this quarter, concentrated in the suburban submarkets, as the overall Central market had negative absorption of 92k sf this quarter, with the financial core assuming all of the negative absorption.

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 74 properties transact with a total sales volume of $619.6M in the second half of 2023. 

Investment activity in the Edmonton region significantly outperformed expectations in the first quarter of 2024. Industrial and multi-family assets both experienced a high number of sales along with strong sales volumes.