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Calgary Industrial Market Report Q4 2020

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research article

The Calgary industrial market experienced a strong Q4 to round out a tumultuous year, as these unprecedented times created an array of difficulties and uncertainty for many owners and occupiers alike. Strong leasing activity in the large-bay segment continued to combat the amount of vacant space that was brought onto the market in Q4, and this trend will remain as we enter 2021, with the COVID-19 pandemic still at the forefront. However, as vaccination efforts increase and signs of optimism improve, the industrial market will continue to see momentum in the different segments of the market have held strong throughout 2020.

  • Momentum in the large-bay segment, coupled with minimal new supply, helped drive overall vacancy down 15 basis points to 6.17% in the fourth quarter.
  • Approximately 2.0 million square feet of product under construction throughout the Greater Calgary Area; however, 91% of it is accounted for in the Balzac district and only  ±726,364 square feet is being built on spec.
  • Our outlook for 2021 remains positive as many encouraging signs experienced throughout the year will continue into 2021, and with several sizeable requirements actively in the market, vacancy and availability rates are projected to trend downwards.


Calgary Industrial Market Report Q4 2020

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For More Information, Please Contact:

Matt Rachiele

Senior Vice President, Investment Sales


Senior Vice President, Investment Sales based in Calgary. Formerly Managing Director, Calgary leading Colliers' Southern Alberta Brokerage business from Q1/19 - Q1/21.  2020 Interim Canadian Chair, Colliers Global Capital Markets Leadership Team.  2020 Co-Chair of the Alberta Real Estate Forum.  Previously, Investment Banker for 12 years, including eight with TD Securities in Calgary covering Global Energy and two years in Toronto as a Mergers & Acquisitions specialist covering all industries for National Bank Financial.

Matt is a Senior Vice President, Investment Sales and previously lead the Southern Alberta Commercial Brokerage operations for Colliers as Managing Director in Calgary, including 75 professionals focused on Office, Industrial, Retail, Multi-Family and Development Land Sales, Leasing & Development transactions. He was the 2020 Canadian Chair on Colliers' Global Capital Markets leadership team, a group of 11 executives that coordinate that activity across the 68 countries we operate within. Matt was also Co-Chair of the 2020 Alberta Real Estate Forum.

He assumed his role at Colliers in April 2019 upon leaving TD Securities, the capital markets division of the Toronto Dominion Bank Group. He was an investment banker for twelve years in total, during which time he provided financial and strategic advisory services to a broad range of corporate and institutional clients, including two years as a Mergers & Acquisitions specialist in Toronto and the past eight years with TD’s Global Energy Group based here in Calgary.  

Matt has closed on ~$40Bn of lead transactions through the course of his career, including several of the largest IPOs and M&A transactions in Canadian history. These included mandates spanning domestic and international Oil & Gas, Energy Infrastructure, Power & Utilities, Mining, Financial and Diversified companies. He has unique, real-time insight into what’s happening in the Western Canadian Oil & Gas sector and is often tapped by our Institutional and Private Clients to brief them on how those dynamics dovetail into CRE.

He is a CFA Charterholder, is licensed under RECA to practice in commercial real estate, is ASC (ARGUS Enterprise) Certified, has a BComm, Finance from the Haskayne School of Business at the University of Calgary and was previously qualified under FINRA as an investment banking representative in the U.S. 

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