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Downtown Calgary office vacancy rates see small improvement, Industrial properties booming
JLL’s Damien Mills and Marshall Toner provides insight into Calgary’s downtown and industrial sectors for Q2. Read Calgary Herald article here.
Calgary Industrial Insight – Q2 2022
“Developers ramp up speculative construction as vacancy continues to decline” Demand has, and is expected to remain stable as developers boosted warehouse construction. Larger format facility options have become limited as tenants search outnumber available options. The industrial real estate market will see prices heighten overall.
Q1 2022 – Calgary Industrial Insight Report
“Vacancy drops further and land sales dominate Q1” Developers are hastily moving to break ground on new product as well as acquiring land to increase much-needed inventory. There is 3.2M sq ft of space being marketed over 100,000 sq ft, of which 1.0M is conditional through 9 transactions. Vacancy faces further downward pressure through 2022.
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