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This quarter has shown more optimism through increased activity levels over last quarter. The perpetual climb in vacancy is a product of the effects of the economic downturn working itself through various levels of the market. Although tenants and owner users appear to be more active this quarter, there is still a hesitation to commit to new facilities as uncertainty remains prevalent in the economy. Businesses
that have been hit by the recession have been making decisions that are often resulting in more space being returned to the market. This has been especially prevalent this quarter in the amount of sublet space that is available at 1,272,671 square feet, which represents 12% of the total space currently available. Over last quarter this number rose by 475,413 square feet, or 60%. Sublet space, which can
often be leased at values lower than headlease rental rates, is one of many forces placing downward pressure on today’s overall rental rates.
Contact Casey Stuart at 403.215.7255 for more information.
  Q2 2009 Industrial Report.pdf
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