Edmonton Office Market Report Q1 2021

The performance of the Edmonton office market in the first quarter of 2021 was largely comparable to the last two quarters of 2020, with significant negative absorption and more sublease space brought onto the market, resulting in an increased overall vacancy of 18.6%.

While the overall vacancy for the city increased, the vacancy rate in the downtown core decreased to 16.9% during the first quarter of the year.
Significant negative absorption was reported in the suburban districts, specifically in the Southside, Eastgate and West End.
Transaction velocity continues to remain slow, but we hope that as large-scale vaccinations are completed and more people return to the office, the need and demand for office space will slowly begin to return.

Edmonton Office Market Report Q1 2021

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For More Information, Please Contact:

Phil Goh

Senior Vice President, Office | Brokerage

Edmonton

+1 780 969 2989

+1 780 969 2389

Phil Goh has been involved in the office leasing and sales side of commercial real estate since 2005 and has accumulated wealth of experience and success in negotiating, creative problem solving as well strategic planning on behalf of his clients. Phil is an expert who specializes in the Edmonton office market and has consistently been a top producer for the Colliers Team. Phil's attention to providing only the highest quality service for his clients in order to help ensure the success of their business is what sets him apart from the rest. His extensive experience and market knowledge allow him to offer value with leasing, lease renewals, office sales transactions as well strategic planning or real estate consulting.

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Fahad Shaikh

Senior Vice President, Office and Healthcare | Brokerage

Edmonton

+1 780 969 3008

+1 780 238 9698

Fahad Shaikh specializes in office leasing and sales in the Edmonton market. Known for his client commitment and superior knowledge of the market place, Fahad has quickly become the trusted advisor to many local and national groups. His commitment of providing his clients with the highest quality of representation is the core philosophy of his practice and has earned him the respect and loyalty from his peers and clients.

Fahad has experience dealing with a wide array of services which include: lease negotiations, renewal negotiations, purchase/sale negotiations, subleasing, consolidation/relocation/expansion analysis, and property evaluations.

Fahad has also emerged as an expert in the healthcare field, representing many large national healthcare tenants and local medical practitioners. His knowledge of the ever evolving developments in the healthcare industry and understanding of the unique complex issues faced by healthcare/medical tenants are why he has been able to successfully consult many tenants and owners in this industry.

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