How Marijuana Legalization Will Impact Edmonton’s Industrial Real Estate Market

As a sign of the times, we had 6 calls last week from different marijuana grow operators looking for industrial space in Greater Edmonton. Ranging from small operators to large enterprises, these groups are looking to capitalize on marijuana being legalized this upcoming summer.  There are already some big players in the market too.  Aurora Cannabis[…]

Get Ready for Higher Property Taxes

City of Edmonton Counselors are patting themselves on the back this week after announcing that property tax rates are only projected to rise 3.6% next year.  While it is lower than the 5% they originally suggested in April, it’s still 3 times higher than what CPI has averaged this past year. The City clearly has[…]

Industrial Building Sales YTD in Leduc / Nisku

As we’re just past the half-way point for 2017, we thought a market update was in order.  Instead of focusing on vacancy or absorption rates, we decided to highlight the free-standing industrial properties that have sold year-to-date in Leduc / Nisku.  While headlines might suggest that market is under duress, the sales data indicates there’s still[…]

Big Growth in Alberta Manufacturing, Incorporations and Exports

While Albertans have become accustomed to reading negative headlines, this week we are purveyors of good news.  Recent statistics show we have had a noticeable increase in year-over-year manufacturing sales, business incorporations and merchandise exports. More specifically, manufacturing sales in Alberta increased 7.5% from December of 2015 to December of 2016.  Entrepreneurs are also becoming[…]

Oil Prices Bringing New Activity to the Commercial Real Estate Market

With all the volatility of oil prices over the past 2 years, it’s encouraging to see some recent stability.  We have written extensively about Edmonton’s commercial real estate market hinging on the price of oil and we still feel the topic will dominate the headlines for 2017. OPEC agreed to cut production in December with[…]

Trends to Watch in 2017

We’ve noticed a general pickup in activity to start 2017, particularly in the Nisku / Leduc and Acheson industrial areas. With oil prices stabilizing over $50 for the past 6 weeks, businesses that have previously held off on making decisions are back in the market. There has been a lot of pressure in the Nisku[…]

PwC and Urban Land Institute’s Annual Real Estate Report

One of the most widely anticipated research reports is Emerging Trends in Real Estate, co-published by PwC and the Urban Land Institute.  For its 38th edition, the two organizations interviewed more than 500 professionals, ranging from private owners to large real estate investment trusts (REITs). We’ve included a link to the full report at the[…]

A Great Week for Alberta

We have been inundated with negative headlines for the better part of two years.  The story of plummeting oil prices garnered international attention but it was particularly difficult to keep reading here in Alberta as our economy undeniably hinges on the underlying price of the commodity.  With the decline of oil prices came a rise in unemployment, corporate[…]

The Energy Association You’ve Never Heard Of

Unless you have a penchant for the energy industry, you’re likely unfamiliar with the Panhandle Producers and Royalty Owners Association (PPROA).  If Clinton had won the election, it’s unlikely a small commercial real estate blog in Edmonton would be writing about them either.  However, with Trump’s win last week, we think this Texas based association[…]

Industrial Vacancy in Nisku / Leduc

With the price of oil flirting with 12 year lows, it will likely come of little surprise that the industrial market in Nisku & Leduc has come under some considerable pressure.  We recently put together a list of properties currently listed in the area.  Of interest, there are currently 34 properties for lease comprising over[…]