Edmonton Office Market Report Q1 2019

research article

Edmonton Trending in Positive Direction

The Edmonton Office Market continues to show positive momentum in Q1 2019, reporting the highest levels of positive absorption since 2011. Vacancy continues to decrease, and it appears the Edmonton market is in the early stages of recovery, which is expected to continue through the remainder of 2019 and beyond.

  • Tenant movement and growth resulted in 201,422 square feet of positive absorption, which is welcome news after a challenging few years.
  • Many groups have taken advantage of the tenant-favoured market conditions to assess their real estate needs.
  • As tenants have rightsized following the economic downturn of 2014/2015, one notable change to the market near the end of 2019 will be a significant shift of sublease vacancy back to available headlease supply.

Edmonton Office

Edmonton Office Market Report Q1 2019

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Craig Hennigar

Senior Director

Vancouver

Craig is a Senior Director in the Valuation and Advisory Services group at Colliers and holds the AACI, P.App and CFA designations.  He offers appraisal and consulting services in the Greater Vancouver and Fraser Valley area as well as throughout British Columbia with particualr focus on the following assets and services: Commercial Property, Industrial Property, Expropriation Valuation, Hospitality Property and Recreational Land, and Multi-Family Property.

Craig is the former Director of Market Intelligence for Canada as well as a real estate broker and appraiser with over 25 years of experience in commercial real estate with work experience is focused on providing strategic and transactional assistance to national real estate firms.  With professional experience in real estate research, valuation, development, management, finance, consulting, and portfolio management roles he has worked with all major asset classes for valuation of both income producing real estate as well as expropriation, development projects.  His client list includes firms in the finance, technology, aerospace, and logistical industries as well as real  estate firms and has additional work experience providing ongoing economic knowledge, research, forecasting and review of the Canadian and international environment.

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Phil Goh

Senior Vice President, Office | Brokerage

Edmonton

Phil Goh has been involved in the office leasing and sales side of commercial real estate since 2005 and has accumulated wealth of experience and success in negotiating, creative problem solving as well strategic planning on behalf of his clients. Phil is an expert who specializes in the Edmonton office market and has consistently been a top producer for the Colliers Team. Phil's attention to providing only the highest quality service for his clients in order to help ensure the success of their business is what sets him apart from the rest. His extensive experience and market knowledge allow him to offer value with leasing, lease renewals, office sales transactions as well strategic planning or real estate consulting.

 

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