First Quarter 2019 Greater Edmonton Report
Edmonton Commercial Vacancy Rates Trend Upward Ahead Two Key Elections in 2019
EDMONTON, ALBERTA - 28/02/2019 - A new report, "Q1 Commercial Market Report 2019" released today by NAI Commercial Real Estate Inc. shows that the overall vacancy trend is on the rise in almost every product type. This continued trend from Q4 2018 has a larger supply of inventory coming to the market than is being absorbed which is having an effect on rental rates and incentives.
"While Edmonton remains an active market in attracting new business, we are finding the bulk of movement recently has been relocating existing businesses between buildings with better opportunities. There has been an increasing supply of opportunities in all areas of the market from industrial, to retail, or office. Many business owners are turning their attention to the outcome of both the Provincial and Federal election. We are all eager to know who will be at the helm given our last four years of perspective." Chad Snow, President, NAI Commercial
Other key findings in the report include positive signs of our Alberta economy recovering, while remaining cautious as Alberta fights to exit the worst economic condition in decades.