Edmonton MarketBeat Reports

Leasing activity remained steady this quarter, although there were fewer high-profile moves and large leases compared to the first quarter of 2023. Despite this, the Edmonton market experienced slight positive net 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 remains dynamic, with noteworthy developments shaping the sector. Overall retail market vacancy has increased slightly to 4.1%, up 10 bps from the previous year. 

The multifamily sector saw a total sales volume of $460.8M in the first half of 2022, up from the $139M that transacted during the same period in 2021, nearly reaching the levels of activity seen in 2020.

The second quarter of 2022 saw close to $900M in property and land sales volume. This represents a nearly 200% increase from the same period last year and a 25% increase since last quarter.