Overall activity in the Calgary industrial market has continued to remain resilient as we have seen the continuation of strong market fundamentals, coupled with heightened demand throughout the industrial market as a whole.
- Vacancy decreased 30 basis points from 5.08% in the second quarter of 2021 to 4.78% in the third quarter. As experienced in Q2, this quarter also saw considerable net positive absorption at ±1.2M SF.
- One of the most notable themes from the third quarter of 2021 is the immense amount of inventory under construction throughout the city and the surrounding area. There is currently ±6.7M SF of industrial projects under way, with the majority of this being developed in the southeast industrial market
- As foreshadowed in our Q2 report, we are witnessing a surge of industrial investment sales activity due to pent-up demand from investors seeking yield, desirable fundamentals, and the competitive landscape relative to the M.T.V. (Montreal, Toronto, Vancouver) markets.