History of St Albert Trail – Connecting Edmonton and St. Albert

Originally a primary trail between Fort Edmonton and “God’s Lake” (Lac Ste. Anne), the road we now know as St. Albert Trail has its roots in 1860 as a shipping route for whitefish, though it wasn’t established as St. Albert Trail until 1889. When the railways on Edmonton’s south side arrived in 1891, Edmonton stopped[…]

Multi-Million Dollar Sales Piling up in Edmonton

2018 is shaping up to see some huge deals in Edmonton’s commercial real estate market. As we reported a few weeks ago, there have already been some noteworthy sales, with the sale of Edmonton Tower for $400 million leading the way. There are clearly a healthy number of buyers in the market as a number of other[…]

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-year 2017 Mid-year 2016 Mid-year Land $228,859,462 $132,533,862 $189,846,527 Buildings $1,082,145,037 $1,077,442,119 $675,904,126 Total $1,311,044,499 $1,209,975,981 $865,750,653 It’s not just the average sale price that has increased either, as the number of total sales has increased from[…]

Edmonton Office Tower Sells for $400 Million

Less than 3 years after it was built, Edmonton Tower has been sold for $400 million.  We mentioned earlier this year that Edmonton Tower, along with Stantec Tower, were both rumored to be for sale, and at the time we expected buyers to quickly come forward.   Enter the Alberta Investment Management Corporation (AIMCo), a large[…]

Are Tax Payers Subsidizing Edmonton Golf Courses?

Golf courses are often owned by wealthy people seeking trophy assets.  Along the lines of a wine vineyard or sports team, the owners are less concerned about the investment returns, and more interested in the bragging rights.   There are exceptions of course, as some astute owners have found ways to profit from golf courses.  Consider[…]

Construction Project Update: Whitemud & 75th Street

The Valley Line LRT is part of the City of Edmonton’s “commitment to grow green and create a compact, more integrated urban environment where people have an opportunity and choose to use alternative transportation modes.” Originally, Edmonton’s LRT system consisted of only the Capital Line, which ran from the northeast through downtown to the university[…]

Edmonton vs Calgary: Commercial Real Estate Market Update

Edmonton and Calgary have a healthy rivalry, but it’s important to note how similar the two economies are.  As we have written about extensively, Edmonton’s economy is positively correlated to the price of oil, so it should be of little surprise to see how similar Calgary’s market has responded to the collapse of oil prices[…]

Oil Prices have Increased 70% in the Past Year

Hillary Clinton is not President of the US, and Amazon did not choose Edmonton for it’s first western Canadian fulfillment centre.  While we struck out on those two guesses, we also predicted back in November that oil would hit $70 / barrel sometime this year (which it did this week, marking a 70% increase since 2017).   While we were wrong[…]

Edmonton Commercial Property Taxes are Rising 4x Faster than Inflation

The City of Edmonton just released the tax rates for 2018, and it ain’t pretty. Before we get into the meat of the article, we’ll first provide a brief overview of how the tax rate is determined: The City prepares a budget to estimate how much it will cost to provide municipal services; Somewhat simultaneously,[…]

Idle Trains, Stalled Pipelines and $70 Oil

There’s an optimism in Edmonton’s industrial market that we haven’t seen since 2014.  Not that it’s anywhere close to the flurry of activity we saw prior to the plunge of oil prices, but it’s markedly better than it’s been the past few years.  If we were to do a rough sketch of the activity we’re seeing,[…]