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Edmonton Industrial Market Report Q1 2020

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research article

Despite the significant instability and uncertainty with which Q1 ended, overall the first quarter of 2020 was considered relatively stable with vacancy rates increasing only marginally by 0.2%, albeit listing announcements continue to be on the rise.

  • The economic landscape has changed significantly in the last few weeks of the quarter due to the Covid-19 pandemic. Global supply chains were heavily impacted as manufacturers were closing operations around the world in response to reducing the spread of the coronavirus which led to a decrease in shipped goods.
  • Alberta is experiencing a 'double whammy' as the price of oil, in particular, the Western Canadian Select (WCS) hit an extreme low this quarter under $5.00 per barrel; the lowest Alberta has ever seen.
  • However, on March 31, the Premier announced the Government of Alberta has finalized an agreement with TC Energy to provide financial support for accelerated construction of the Keystone XL Pipeline. This offers Albertans a glimmer of hope for the future, along with the promise of much needed jobs within Alberta's industrial sector.

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Edmonton Industrial Market Report Q1 2020

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For More Information, Please Contact:

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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