The second quarter of 2018 saw 103,607 square feet of positive absorption which marks the fourth straight positive quarter for the Greater Edmonton market. As a result, vacancy dropped slightly to 6.38%.
Southeast Edmonton was the biggest driver in the leasing market as 420,360 square feet of positive absorption took place. Absorption in Leduc/Nisku also saw an uptick as 131,834 square feet of space was taken.
Quarter-over-quarter, total industrial sales increased by 62%, jumping from $116 million in the first quarter to $189 million in the second quarter of 2018. Owner-user and investment sales are up by 50% and 27% respectively, while land sales decreased by 20% from last quarter.
Northwest Edmonton was home to the bulk of the sale transactions in Q2 with 65% of the overall industrial sales taking place in this market. The largest of these transactions was a $63 million, 22 acre multi-bay warehousing sale in Sunwapta Industrial.