Calgary industrial insight – Q3 2021

November 1, 2021

“Record setting occupier demand as absorption approaches 6M s.f. in 2021”

Continued positive absorption has occurred in Calgary’s industrial market this last quarter, largely due to Lowes taking occupancy of their 1.2m s.f. new distribution center in Balzac, Alberta. Pre-leasing in under-construction inventory is unusually strong, as is investor interest. Not surprisingly, as availability decreases and demand continues, net rental rates are experiencing upward pressure.