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Edmonton Industrial Market Report Q4 2021

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research article

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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Edmonton Industrial Market Report Q4 2021

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Richard Darling

Managing Director, Edmonton

Edmonton

As Managing Director of Colliers International, my primary focus is attracting and retaining top, diverse, and innovative commercial real estate professionals for the Edmonton and surrounding markets. I have a proven track record in architecting strategic business plans, negotiating complex contracts, strengthening partnerships with key accounts and driving operational and financial excellence in highly competitive markets. 

As a strategic leader with experience spanning operations, sales management and process improvement, I pride myself on building an office culture that is collaborative, high-performing, and inclusive. I act as a coach to ensure you have what you need to build and grow your commercial real estate practice. I am always looking to network with talent specialized in all asset classes that can help contribute to this culture. Please feel free to send me a connection request!

Prior to Colliers, I've gained invaluable experience working cross functionally with all facets of an organization. This has included shared services across multiple markets including the US. Building relationships with key internal stakeholders in order to improve team performance and overall customer experience. I have presided over the expansion of National sales activities across major sectors that included oil & gas, forestry, mining, transportation, construction, manufacturing & property management to drive revenue and profitability improvements for long term financial stability.

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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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