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Calgary Industrial Market Report Q2 2021

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Activity in the Calgary Industrial market through the Q2 2021 has witnessed the continuation of demand in the distribution and logistics sector.

  • The downward trend in the vacancy rate continued, dropping 27 basis points (bps) from 5.35% in Q1 2021 to 5.08% in the Q2 which has put upward pressure on market rents and decreased inducements.
  • Another sign of the strengthening market has been the successful sales of owner / user properties that had extended time on market as purchasers are taking advantage of the low interest rate environment and growing optimism as the economy emerges from the impacts of the pandemic.
  • The most notable project to reach completion this quarter was the Lowes distribution centre building in Balzac which was originally announced in Q2 2021. The 1.23 million square foot facility is scheduled to open in the fall of 2021 and will be part of an initiative to better optimize the company’s Canadian distribution network1.

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Calgary Industrial Market Report Q2 2021

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For More Information, Please Contact:

Paul Marsden

Executive Vice President | Partner | Industrial Sales & Leasing

Calgary - Southeast Industrial Office

Paul Marsden is an Executive Vice President & Partner of the Colliers Calgary operations.  In his day-to-day efforts he focuses on the Calgary industrial real estate market, specializing in tenant and user representation.  Throughout his career Paul has established a strong reputation for evaluating the current market conditions and in-turn strategizing to best serve his client’s requirements.  In conjunction with his team, they have completed 18.1m sf of transaction and nearly 1,000 acres of land sales over the past 5 years, representing approximately $1.45b in transaction value. 

Beyond brokerage Paul has an active role on the Board of Director for the Colliers Calgary operations, and he takes pride in seeing both the development of the people within Colliers, and the overall growth of the company.  

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