Calgary Industrial Market Report

Q2 2022

Economic challenges mount

As rising inflation continued to draw concern throughout Q2, the Bank of Canada responded in July with a 100 basis point hike, bringing its overnight rate to 2.5%. While the industrial market has proven itself robust throughout the pandemic, the present situation will force stakeholders of all kinds to adjust their strategies to adapt in a high-cost environment.

Calgary’s industrial demand remains strong

Despite the headwinds in the greater economy, Calgary’s position as a viable alternative to larger and more congested industrial markets continues to solidify. The market’s relative affordability, even in the face of elevated costs, will still play into its favor.

Occupancy timelines stretching

The development pipeline is expected to deliver an unprecedented number of new builds. With 8.7 msf under construction and in the pipeline, the 2022 industrial development frenzy will continue well into 2023.


Total vacancy rate

down 2% since Q2 2021


Availability rate

down 2.9% since Q2 2021


Sublease vacancy rate

down 0.79% since Q2 2021

Investment sales

year to date, up 32% from the first half of 2021

Square feet absorbed

3.4 million square feet year to date

Square feet proposed and under construction

2 million square feet delivered year to date
Download Calgary Industrial Report

Your source for the latest Calgary office market reports

Get in-depth office market reports and insights from commercial real estate experts in the Greater Calgary area. Avison Young advisors look at Calgary commercial real estate activities and the latest Calgary statistics to provide you expert market research on Calgary's office properties.

Explore different topics like the latest office market pricing trends and analysis of Calgary's current office real estate market conditions. Gain a better understanding of Calgary’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Calgary's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Calgary.

The dashboard was delivered through AVANT by Avison Young: leveraging real-time data and analytics to make cities and location-based decisions more transparent and efficient. Learn more about AVANT.