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The fourth quarter of 2009 showed a deviation from the trends seen in Calgary’s industrial market over the last 12 to 24 months. Although vacancy continued to increase from 5.96% in Q3 to 6.38% in Q4, the degree to which it increased was the smallest since Q1 of 2008. Availability decreased for the first time since Q2 2007 going from 8.98% in Q3 to 8.85% in Q4. The decreasing gap between vacancies quarter over quarter along with a decrease in availability show signs of a changing market and an increase in activity from a relatively stagnant year. Leasing activity has appeared to have increased in Q4, most notably with more large bay users (50,000 square feet and greater) entering the market or looking for new premises. Actual transaction activity was slightly greater than previous quarters in 2009, although the more prominent effect on changing vacancy and availability patterns came from a lack of new product coming to the market compared to the abundance of new space that was seen in 2008 and early 2009.
Contact Julia Sagidova at 403.215.9869 for more information.
  Industrial Report Q4-09.pdf
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