Calgary Herald - Calgary Industrial Real Estate Market Coming Off a Strong Year
Posted on February 10, 2015
Leasing activity in Calgary’s industrial real estate market in 2014 was the highest it’s been in eight years.
A report by Colliers International in Calgary says there was just over five million square feet of positive absorption – the change in occupied space – last year – the highest yearly absorption since 2006.
Despite the high rate of absorption, only 500,000 square feet of new construction was added to the industrial inventory in the fourth quarter of last year, added the report.
Colliers said the leasing velocity and lower-than-average new construction contributed to produce a lower vacancy rate of 3.82 per cent in the fourth quarter from the previous quarter’s 4.43 per cent.