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Calgary Industrial Market Report

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research article

Over the past 12 months, the Greater Calgary Area (GCA) Industrial market has seen an unprecedented surge in activity, driving vacancy below 3% for the first time since 2008, which is pushing market rents upwards, a trend Colliers expects will continue.

  • Vacancy decreased significantly again this quarter, settling at 2.40% for Q2 compared to 3.50% in Q1 2022.
  • With the lack of available existing inventory, and the current state of most under-construction buildings, Calgary’s industrial absorption levels will be diminished for the balance of the year, however strong demand for speculative developments and new built-to-suit facilities is expected to remain high.
  • Calgary and the surrounding markets continue to see good depth and breadth of investor interest in available opportunities (income producing and development) from a broad range of investor types, located both locally and abroad.

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Calgary Industrial Market Report

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Ian Huston

Managing Director, Calgary | Brokerage

Calgary

Ian is Managing Director in the Calgary office. Ian focuses on attracting  and retaining top performers in commercial real estate, as well as supporting Colliers' growth strategies and maintaining the company's top industry standing.

Ian is a seasoned leader with over 15 years of progressive experience in investment banking, corporate and capital markets, financing, and strategic advisory at a leading Canadian financial institution. He has led over $40 billion of successful M&A transactions, and numerous equity and debt financings.

Throughout his career, Ian has been a trusted advisor to executive management and board of directors of over 20 companies in the North American energy sector, including: upstream (conventional, oil sands, royalties), midstream, downstream, and energy services.

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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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Adam Jacobs

Senior National Director, Research | Canada

Toronto Downtown

Colliers Canada's head of research, leading a cross-country team of 20 mapping, analytics and research professionals. Formerly head of Canada research at Cushman Wakefield and Director of Analytics at Oxford Properties. Featured in mainstream publications such as the Toronto Star, industry publications and podcasts. Specializing in the big picture and the fundamentals driving real estate - demographics, the macro environment and the global economy. 

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