Lethbridge investment market report

2023 Q1

Lethbridge’s market demand remains strong

Despite the headwinds in the greater economy, Lethbridge's commercial real estate (CRE) market is projected to regain momentum by the end of 2023. Lethbridge's commercial rental rates are still lower on average than other communities of similar size and demographics in Western Canada, attracting national tenants to new builds in the area. The market's relative affordability, even in the face of increased costs will continue to play in its favor.

Local investor sentiment is cautious but optimistic

The local market has cooled in response to increased inflation and interest rates. There will likely be a ‘holding pattern’ in early 2023 for local investors, with demand for commercial real estate sale and lease activity resuming by the end of the year.

Low vacancy rates create high demand for existing space

With low vacancy rates in both industrial and retail space, new builds and redevelopments are on the horizon. In keeping with national trends, high-quality properties in accessible, attractive, amenity-rich locations will thrive.


Lethbridge industrial vacancy rate

$8.56 PSF

Average industrial base rent rate


Lethbridge office vacancy rate

$15.15 PSF

Average office base rent rate


Lethbridge retail vacancy rate

$22.68 PSF

Average retail base rent rate

Download Lethbridge Investment Market Report January 2023

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

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