Edmonton industrial market report
Q4 2022

Q4 market trends
The year concluded on a record breaking note for the industrial sector, whereupon four consecutive quarters of positive absorption were achieved
even with over four million square feet of new supply. As vacancy and availability nears lows not seen since 2015, the growth of the Edmonton area’s industrial market must be recognized; approximately 25 million square feet of inventory has been added over the last eight years.
With nearly four million square feet more currently under construction, some of it pre leased, the rest of the nation is beginning to recognize Edmonton’s strategic location as a distribution and cargo hub. Upcoming developments slated for completion in 2023 include:
- 242,550 sf at Pioneer Skies in Nisku
- 321,031 sf at Discovery Business Centre in Leduc
- 321,055 sf at Northport Business Park in northwest Edmonton
- 418,744 sf at Fulton Creek Business Park in southeast Edmonton
- 423,481 sf at Anthony Henday Business Park in St. Albert
- 481,450 sf at Border Business Park in Nisku
Expect leasing activity to remain strong in 2023 with continued positive absorption predicted for the market.
(De)globalization and Edmonton
As part of Avison Young’s 10 Trends for 2023, we discuss the consecutive blows to globalization; namely, economic nationalism, the COVID 19 pandemic, and Russia’s invasion of Ukraine.
These developments have created an economic situation so volatile and untenable that Biden has been forced to tread where Trump merely tweeted and begin the process of returning manufacturing bases back to American soil. These agreements are undoubtedly in their infancy, but their increasing volume will only add additional pressure onto industrial real estate in North America. Expect demand for manufacturing spaces (and the energy to power them) to increase concurrently with a demand for batteries, magnets, and other technology used in computers, solar panels, wind turbines, electrical vehicles, and tractors.
Total vacancy rate
Edmonton vacancy rate
Suburban vacancy rate
Square feet of inventory
Square feet absorption
Square feet under construction
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Get in-depth industrial market reports and insights from commercial real estate experts in the Edmonton area. Avison Young advisors look at Edmonton commercial real estate activities and the latest Edmonton statistics to provide you expert market research on Edmonton industrial properties.
Explore different topics like the latest industrial market pricing trends and analysis of Edmonton's current industrial real estate market conditions. Gain a better understanding of Edmonton’s industrial real estate outlook and stay ahead of current industrial space trends. Make smart decisions when it comes to investing in industrial properties in Edmonton's competitive industrial real estate market. Avison Young is your trusted source for commercial real estate industrial market insights in Edmonton.
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