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Calgary Industrial Market Report Q1 2022

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research article

Q1 2022 began with a frenzy of activity throughout the Calgary industrial market, and specifically, demand for distribution-related space has driven vacancy down to the lowest level experienced since Q4 2014.

  • Q1 2022 marked the third consecutive quarter of over 1 million square feet of positive net absorption drove industrial vacancy down to the 3.50% mark, and dwindling supply continues to place upward pressure on net rents.
  • The land market is also accelerating, with strong demand for industrial land both in and outside of the city limits and developers eager to secure future sites to help satisfy market demand.
  • A return of institutional demand, private capital interest, sinking vacancy rates and growing rents have all contributed to valuations in the low 4% cap rate range.

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Calgary Industrial Market Report Q1 2022

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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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Leo Lee

Director, National Research Operations | Canada

Toronto West

Leo Lee is the Director of National Research Operations | Canada and oversees the strategic direction and operations of Colliers Canada Research. He focuses on developing the capabilities of the national research team that leverages Colliers' best-in-class market intelligence and platforms to provide clients with valuable market insights.

Leo joined Colliers International in 2008 and was most recently the Regional Director of Research for Eastern Canada.

He has over 10 years of experience in the real estate market across Canada and New Zealand and draws on his professional experience as a commercial appraiser and real estate consultant.

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