Industrial real-estate: vacancy rate shrinking

By News Staff

Posted May 28, 2011 8:08 am.

This article is more than 5 years old.

There is positive news for Calgary’s industrial real estate developers.

According to a report released by CB Richard Ellis Limited, available space in Calgary has dropped for a fifth consecutive quarter to 3.6 per cent.  That’s down 20 basis points from year end 2010.

The report says rental rates are improving as a result and in some cases nearing pre-recession figures.

During the last quarter, more than 605-thousand square feet of industrial space was absorbed, but only 78-thousand square feet was added. 

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