Calgary’s industrial market experienced its third consecutive quarter of an increase in overall vacancy, increasing 30 basis points to 6.1%.
- The increase in vacancy over the past 9 months has predominately been influenced by significant speculative development projects that have reached completion.
- Despite the escalation in vacancy, net absorption more than doubled from the second quarter of 2019 to ±585,789 square feet.
- Positive absorption has been maintained by steady leasing and sales activity, particularly in the medium-bay segment of the market.
