Activity in the Edmonton office market was relatively stagnant over the course of Q1 2020, seeing overall the vacancy rate drop 30 basis points. Unfortunately, like other markets across the world, Edmonton’s office market will inevitably experience both short and long-term impacts due to the ongoing COVID-19 pandemic. Some impacts of COVID-19 are already being felt by tenants and landlords as they both try to navigate these uncharted waters.
- The largest transaction recognized this quarter is Centre High’s move from the historic Boardwalk Building (10310 - 102 Avenue) to MacEwan University’s Alberta College Campus (10050 MacDonald Drive), taking roughly 100,000 SF.
- The South Henday district saw another positive quarter of activity, as vacancy continued to decrease and set a new record low of 8.0% (the lowest submarket vacancy across the city).