Demand strong for industrial real estate in Calgary, Alberta, Canada as shown by high leasing activity in 2013



Strong demand for Calgary industrial real estate market
Leasing activity high in 2013
BY MARIO TONEGUZZI, CALGARY HERALD JANUARY 17, 2014

CALGARY – The high amount of leasing activity in 2013 in the Calgary industrial real estate market is a strong indicator of healthy demand which will continue to consume vacant product, says a new report by Colliers International.

“Combined with a bright economic outlook, Calgary is poised for strong organic growth in existing business as well as an increase in new entrants,” said the report, which indicated the vacancy rate in the city ended the year at 5.82 per cent, up slightly from 5.65 per cent at the end of September.

Colliers said absorption – the change in occupied space – remained high at 1.2 million square feet in the fourth quarter of 2013. This is a small increase over the third quarter which saw just over one million square feet of absorption.

“Total inventory under construction continued to drop towards the end of the year as buildings became complete. Historically, a boom in construction has often been followed by a reactionary lag as developers begin to slow growth and even postpone projects.

Click here for full article and photo in the Calgary Herald

 

 

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