Skip to main content

Scroll Down

Market Report

Edmonton Industrial Market Report

3Q 2024

Industrial Market to Hold Steady as Demand
and Supply Dynamics Maintain Equilibrium

Infrastructure and energy bode well for demand outlook. While net absorption levels have pulled back over the first half of 2024, infrastructure projects focused on energy and trade are set to benefit Edmonton’s industrial real estate sector over the coming years. The opening of the Trans Mountain Pipeline expansion in May nearly triples the flow of crude oil from Alberta to Canada’s Pacific coast, transforming the country’s access to global markets. Moreover, Edmonton has direct access to the Port of Prince Rupert in British Columbia, which is undergoing a massive expansion that will make it the second-largest container facility in Canada – further expanding the metro’s trade capacity. Lastly, Edmonton is seeing strong investment into clean energy, with projects involving solar power, natural gas and hydrogen production. Not only have these diverse demand drivers helped somewhat stabilize the industrial vacancy rate over the past year despite restrictive interest rates, but they will also fuel long-term demand, as service providers will be needed to support the added logistics associated with these projects. Investors remain optimistic about the sector’s growth prospects looking forward as a result.

Related Research

Back to top