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Market Report

Edmonton Industrial Market Report

2Q 2024

Energy Tailwinds and Government Incentives
Set to Drive Long-Term Industrial Performance 

Infrastructure investment to benefit industrial space demand. After more than four years and at least $34 billion in cost, the Trans Mountain Pipeline expansion is set to enter commercial service in May. The extension will add roughly 980 kilometres of new pipeline to the transportation corridor that carries oil from the Edmonton area to the West Coast of British Columbia. It will increase the existing pipeline’s capacity from 590,000 barrels per day to a total of 890,000, drastically improving Canadian oil companies’ access to export markets. Edmonton’s industrial real estate sector is set to benefit as a result. The metro is home to oil and gas servicing companies and with production capacity set to increase by approximately 50 per cent, servicing providers will be needed to assist with the logistics of the added capacity. Along with a more disciplined construction pipeline, Edmonton’s industrial sector is likely to be a top-performer in 2024.

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