Edmonton MarketBeat Reports

The Edmonton office market posted absorption of 70k square feet (sf) this quarter, concentrated in the suburban submarkets, as the overall Central market had negative absorption of 92k sf this quarter, with the financial core assuming all of the negative absorption.

The second quarter of 2020 experienced positive absorption of 379,876 square feet (sf) in the Edmonton Industrial market, attributed to the completion of the 194,000-sf Cannabis Genomics Facility in Leduc/Nisku, and SMS Equipment signing a 108,000-sf lease at Northview Business Park II and their 167,000-sf expansion onto their existing building in Acheson, 

Edmonton’s retail market saw slight improvements in the first half of 2024, with overall vacancy dropping to 3.0%, down 60 bps from the second half of 2023. 

The multifamily sector saw 65 properties transact at $413.1 million in the first half of 2024, marking a slight decline from the preceding year’s $580.7 million sales volume – a year-over-year decrease of 28%. 

In Q2 2024 the Edmonton investment market saw a notable decline in activity, with total sales volume reaching $667.4 million. This represents a substantial drop from the $1.3 billion recorded in Q2 2023, reflecting a 48% YOY decrease.