As the year came to a close, the Edmonton market continued to experience high leasing activity in the industrial market.
- 1.6 million square feet of absorption was experienced with 415,621 square feet in Southeast, followed by Leduc/Nisku (368,680 square feet) having the second-highest absorption of the quarter.
- Vacancy decreased for the fifth consecutive quarter, with a 220 basis point (bps) drop in the past year from 7.6% in Q4 2020 to 5.4% in Q4 2021.
- Rental rates have dropped in a year-over-year analysis from $9.69 per square foot in Q4 2020 to $9.37 per square foot in Q4 2021.
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