Q3 2022 Edmonton Industrial Occupier

Vacancy hits another low this quarter dropping to 3.5% from 4.21% last quarter (Q2) and from 4.4% the quarter before (Q1). We are now reporting on 8 consecutive quarters of positive absorption and decreased vacancy in this industrial market. The current vacancy rate is lower than it was in 2015 before the Alberta market imploded, the difference being there is currently close to 17,600,000 more square feet in the market.