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Edmonton Industrial Report Q4 2023

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research article

The Edmonton industrial market experienced strong leasing activity in the fourth quarter, following in the same vein throughout the year. Absorption was positive for the 14th consecutive quarter.

  • The vacancy rate increased by 40 basis points from Q3 2023, as six construction projects came to market, which pushed the vacant square footage up. However, high leasing activity throughout the quarter helped combat the influx of new supply.
  • Upon completion of the six construction projects, 1.3 million square feet of new supply was added to the market, and of that, 1.05 million square feet were vacant upon completion.
  • Asking net rental rates experienced a 5.9% increase year-over-year (YoY) to an average of $10.98 per square foot.

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Edmonton Industrial Report Q4 2023

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Pour plus d’informations, veuillez contacter:

Richard Darling

Managing Director, Edmonton

Edmonton

As Managing Director of Colliers International, my primary focus is attracting and retaining top, diverse, and innovative commercial real estate professionals for the Edmonton and surrounding markets. I have a proven track record in architecting strategic business plans, negotiating complex contracts, strengthening partnerships with key accounts and driving operational and financial excellence in highly competitive markets. 

As a strategic leader with experience spanning operations, sales management and process improvement, I pride myself on building an office culture that is collaborative, high-performing, and inclusive. I act as a coach to ensure you have what you need to build and grow your commercial real estate practice. I am always looking to network with talent specialized in all asset classes that can help contribute to this culture. Please feel free to send me a connection request!

Prior to Colliers, I've gained invaluable experience working cross functionally with all facets of an organization. This has included shared services across multiple markets including the US. Building relationships with key internal stakeholders in order to improve team performance and overall customer experience. I have presided over the expansion of National sales activities across major sectors that included oil & gas, forestry, mining, transportation, construction, manufacturing & property management to drive revenue and profitability improvements for long term financial stability.

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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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