Colliers has just released its Q2 Industrial Report, and the biggest news is a slight increase in the vacancy rate, from 2.99% to 3.8%, as well as very little sales and leasing activity.
- The vacancy rate 18 months ago was only 1.51%, rose to 3.17% at the end of 2008, dipped slightly in Q1 2009, and has crept up again to the new high of 3.8%.
- Interesting to note is that only 39 acres of industrial land has sold so far in 2009 … numbers like that haven’t been seen since the mid-80’s.
- Edmonton’s industrial inventory has not seen selection like this in 6-7 years.
- Zero new construction in Q2, meaning the increase in vacancy is entirely from existing properties.
The full report, which expects continued downward pressure on industrial lease rates and sale prices can be downloaded here: Edmonton Industrial Second Quarter 2009 Report by Colliers.
