2018 Has Seen an Increase in Commercial Sales Activity

As oil prices have increased over the past year, so has commercial real estate activity in Edmonton.

2018 Mid-year2017 Mid-year2016 Mid-year

It’s not just the average sale price that has increased either, as the number of total sales has increased from 268 for the first half in 2016 to 334 so far in 2018.

Here were some of the notable sales year-to-date:


• 10201 Jasper Ave – Enbridge Tower – $22,000,000 ($119.53/SQ.FT.) – Vacant on sale
• 11120 178 St – $8,135,000 ($153.49 / sq ft)
• 10703 109 St – $2,550,000 ($239.02 / sq ft)
• 10145 81 Ave – $2,535,000 ($239.02 / sq ft)
• 9924 110 St – $2,350,000 ($257.17 / sq ft)


10402 184 St – Sunwapta Business Centre – $62,954,334 ($151.49 / sq ft.) 47% vacant on sale
• 6510 20 St – 4 property portfolio (2 Edmonton / 2 Calgary) – $61,421,200
• 9303 28 Ave – Parsons Business Centre – $25,000,000 ($144.13 / sq ft.)
• 16311 117 Ave – 3 property portfolio – $21,600,000 ($67.53 / sq ft)
• 18131 118 Ave – $13,300,000 ($132.19 / sq ft)


• 2803 Millwoods Road – Kameyosek Shopping Centre – $18,850,000 – 6.17% cap rate
• 16320 95 Ave – Westgate Shopping Centre – $17,200,000 – 6.82% cap rate
• 14403 Miller Crossing – Miller Crossing – $13,800,000 – 6.02% cap rate
• 5682 75 ST – Bbq Country / Cycle Works – $13,000,000
• 2 TOYS “R” US locations – $24,260,000
• 2008 91 ST – Staples – $10,250,000 – 7.13% cap rate

The data suggests the market is improving, and we are optimistic we’re entering an economic recovery.  There are, however, a number of things we’re also keeping an eye on through 2018:

1.  Capital fleeing a politically unstable country;
2.  Rising interest rate environment;
3.  Property taxes rising 4x faster than the rate of inflation;
4.  Rapidly increasing minimum wage;
5.  Provincial carbon tax;
6.  Heavy crude discount (differential between WTI and Western Canadian Select).





The Network


Information has been obtained from sources deemed reliable but is not warranted to be so.  Views and opinions are solely of the authors and do not represent any company or organization.  View full disclaimer here.

Our Team




Chad is a partner with NAI Commercial and has finished as a top 15 producer Canada-wide for the past three years. Chad owes his success largely to his commitment to uncompromising client representation, his active involvement in the real estate and business communities and a lifelong pursuit of continuous learning.




Ryan is a partner with NAI Commercial Real Estate in Edmonton. He is currently ranked nationally as one of NAI’s top advisors in Canada. Having completed his Bachelor of Commerce majoring in Finance, his eye for detail and great understanding of the numbers associated with any business decision makes him an asset to his clients while providing them the highest level of service.




Darcie began her career in Commercial Real Estate after completing her studies in Business Administration. Her personable nature coupled with a results-driven attitude is a perfect match for customers. Darcie understands the importance of delivering a custom, accountable solution for her clients.

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