Q2 2022 Calgary Industrial Occupier

Calgary’s industrial sector, comprised of 156 million square feet, has had remarkable activity since 2021. Spurred on by a dramatic increase in online shopping during the pandemic, demand for distribution space spiked, leading to the highest level of net absorption per annum,8.7 million square feet in 2021, more than double the previous best year, 2018, which saw 3.8 million square feet absorbed. Moreover, 2022 is on pace for another impressive year of absorption, currently at 5.5 million square feet.