Edmonton Trending in Positive Direction
The Edmonton Office Market continues to show positive momentum in Q1 2019, reporting the highest levels of positive absorption since 2011. Vacancy continues to decrease, and it appears the Edmonton market is in the early stages of recovery, which is expected to continue through the remainder of 2019 and beyond.
- Tenant movement and growth resulted in 201,422 square feet of positive absorption, which is welcome news after a challenging few years.
- Many groups have taken advantage of the tenant-favoured market conditions to assess their real estate needs.
- As tenants have rightsized following the economic downturn of 2014/2015, one notable change to the market near the end of 2019 will be a significant shift of sublease vacancy back to available headlease supply.