Q3 2023 Edmonton Industrial Occupier

This quarter has seen a slight decrease in Vacancy down to 3.51% for the Greater Edmonton Area, this has come from a decrease and further absorption in surrounding municipalities as the trend for larger industrial tenants continues to move outside of Edmonton proper. Both Northwest and Southeast Edmonton has had an uptick of sublease vacancy while new development in Nisku and Leduc experiences positive absorption. In this issue of The Occupier, we are going to explore the evolving property tax increase and issue we are seeing in Edmonton proper, Chris Buchanan, Director of Property Tax from Altus provides an overview of the tax climate in Edmonton and the surrounding area as it pertains to industrial properties.