Edmonton’s Industrial market experienced 1.8 million sq. ft. of positive absorption in the third quarter of the year. The majority of this absorption was from the completion of two build-to-suit properties; Amazon’s 1,000,000 sq. ft. distribution building in Border Business Park and Fountain Tire’s 181,500 sq. ft. building in Route 60 Industrial Park.
Despite 1.9 million sq. ft. coming to market this quarter, there is still just over 2.0 million sq. ft. under construction.
Demand in Edmonton is being driven by large bay distribution users, while the small-bay market sits on the sidelines.