Avison Young Edmonton Industrial Report (Q1 2019)10 May 2019
With a recent provincial election, change is on the horizon for Alberta. Although this change will not be seen overnight, there will most likely be a shake up as the electoral party has changed back to Progressive Conservative. Edmonton is faced with addressing the tax rate differential that has driven a majority of larger tenants out of the city boundaries in search of lower rates. The bulk of the volume of space leased has been seen with last mile delivery corporations, the largest example of this is the Amazon fulfillment centre in Leduc County. Merger and acquisition groups have been hinting towards a palatable rating for the investment in properties found in the Greater Edmonton Area. Momentum will hopefully continue to be seen in the diversification of industrial space away from the a-typical Oil & Gas use that Edmonton and Alberta have long been known for.