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Calgary Industrial Market Report Q1 2023

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research article

The Industrial market in the Greater Calgary continued to experience strong leasing activity in Q1 2023, with vacancy dropping by 51 basis points to 1.83% overall.

  • With significant projects under construction however, Colliers Calgary expects the vacancy rate to hover around this point over the course of 2023, with most absorption likely to stem from leasing in newly completed projects.
  • The Balzac market remains a competitive area for large-bay distribution users, attracting tenants from within the City limits as well as other markets in Canada.
  • Shrinking vacancy and existing availabilities are placing upward pressure on asking rental rates, and landlords are also raising operating costs to account for inflation and tax-related cost increases.

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Calgary Industrial Market Report Q1 2023

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Pour plus d’informations, veuillez contacter:

Ian Huston

Managing Director, Calgary | Brokerage

Calgary

Ian is Managing Director in the Calgary office. Ian focuses on attracting  and retaining top performers in commercial real estate, as well as supporting Colliers' growth strategies and maintaining the company's top industry standing.

Ian is a seasoned leader with over 15 years of progressive experience in investment banking, corporate and capital markets, financing, and strategic advisory at a leading Canadian financial institution. He has led over $40 billion of successful M&A transactions, and numerous equity and debt financings.

Throughout his career, Ian has been a trusted advisor to executive management and board of directors of over 20 companies in the North American energy sector, including: upstream (conventional, oil sands, royalties), midstream, downstream, and energy services.

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Adam Jacobs

Head of Research | Canada

Toronto Downtown

Colliers Canada's head of research, leading a cross-country team of 20 mapping, analytics and research professionals. Formerly head of Canada research at Cushman Wakefield and Director of Analytics at Oxford Properties. Featured in mainstream publications such as the Toronto Star, industry publications and podcasts. Specializing in the big picture and the fundamentals driving real estate - demographics, the macro environment and the global economy. 

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