Q4 2022 Edmonton Office Occupier

In the final quarter of 2022, the Edmonton office market continued to experience vacancy pressure as total vacancy increased slightly to 19.66 percent, which is an increase of half a percent from the
previous quarter. Net absorption for Q4 calculated at approximately negative 160,000 square feet for the greater Edmonton area. Edmonton’s downtown office market continued its ascending trend of vacancy in the fourth quarter with a recorded rate of 19.68 percent. This is an increase of 0.93 percent from the third quarter of 2022.