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, 

In the fourth quarter of 2023, Edmonton’s retail market showed slight improvements as overall vacancy dropped to 3.6%, down 80 bps from the previous quarter. 

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.