Calgary Industrial Market Report

Metro’s growing economy underpins solid 2025 outlook. Calgary’s industrial sector is poised to benefit from another year of robust economic growth, driven by a positive outlook for Alberta’s energy sector and the metro’s diversifying economy. With the completion of the Trans Mountain Pipeline expansion, the province’s oil transportation capacity is expected to nearly triple from its current level. This project will open up trade routes to Asia, spurring sector growth. At the same time, lower interest rates, broad-based employment gains and recent population growth will stimulate consumer spending and business investment, further solidifying Calgary as a distribution hub for Western Canada. These factors combined will drive space demand across various industrial formats and maintain the asset as a preferred investment option. On the supply side, the current construction pipeline is winding down, as softening demand has become a concern for developers. In 2025, completions are expected to scale back further, following last year’s decline. That said, with less construction-related red tape and fewer regulatory barriers, development activity can ramp up quickly if demand rebounds.