Q1 2024 Edmonton Industrial Occupier

We experienced a slight drop in vacancy from 3.48% in Q4 2023 to 3.26% in Q1 2024, with an overall vacancy rate of 3.42% which includes sublease vacancy. In the Q1 2023 issue of The Occupier, we shared information on new industrial developments in the greater Edmonton area that were being built on spec. In that edition of the Occupier we covered the significant amount of new industrial construction underway, market drivers, economic outlook, and the impact on vacancies and industrial rates. In this issue of The Occupier, we will discuss the absorption we tracked since Q1 2023.