Calgary Industrial Market Report Q4 2019

Download Report
research article

Calgary’s industrial market experienced a stable quarter, with vacancy decreasing 3 basis points to 6.04%. Calgary remains as an attractive market for its abundance of newly built product, low rental rates compared to other major Canadian cities, and location as a Western distribution hub. Our outlook into 2020 is positive as we expect absorption to catch up to the oversupply of new construction experienced in the past 24 months.

  • While the market remains slow, absorption increased with ±768,252 square feet of net positive absorption in the fourth quarter.
  • There has been 6.4 million square feet of new supply experienced over the previous 24 months. 
  • A 24% increase in commercial tax rates in the past 2 years has resulted in increased bankruptcies among smaller tenants.


Calgary Industrial Market Report Q4 2019

Download Report
For More Information, Please Contact:

Matt Rachiele

Managing Director & SVP, Investment Sales


Matt is a Senior Vice President, Investment Sales and currently leads the Southern Alberta Commercial Brokerage operations for Colliers, including 75 professionals focused on Office, Industrial, Retail, Multi-Family and Development Land Sales, Leasing & Development transactions. He is also the acting Canadian Chair on Colliers' Global Capital Markets leadership team, a group of 11 that coordinates that activity across the 68 countries we operate within.

Matt 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.

Matt 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. 

View Expert