Q2 2021 Calgary Industrial Real Estate Market Overview
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Q2 2021 CALGARY INDUSTRIAL REAL ESTATE MARKET OVERVIEW Q2 2021 Q2 2021 VACANCY 1.15% QUARTERLY ABSORPTION FROM Q1 2021 4.98% (6.13%) +3,056,261 OVERALL Q2 RATE SQUARE FEET algary’s industrial real estate market We noted 70 sales transactions during Q2 NEW CONSTRUCTION showed high levels of sales and leasing 2021, with the condo market being the most • 1,356,319 sq. ft. completed Cactivity in all sectors throughout the active sector with 35 condo sales. The next in Q2 second quarter of 2021. The demand for large active segment was owner-user transactions (includes Lowe’s 1.2M Sq.ft.) warehousing in the GCA has helped lead with 32 sales. There were three investment to 3,056,261 sq. ft. of positive absorption, sales this quarter, which matched the number • 1,863,580 sq. ft. under which takes the market total year-to-date of investment transactions that occurred in construction as of Q2 absorption to 5,093,714 sq. ft. This increase in Q1 2021. Although demand is strong, the low positive absorption has helped drive vacancy number of transactions is the result of limited LEASE TRANSACTIONS down to 4.98%, which is a 1.15% decrease supply. from Q1 2021. In just one quarter, we have Industrial zoned land has been more active on • 135 Lease Transactions witnessed over a full percentage point drop a sales basis this year than it has been in the • 3,882,724 sq. ft. Leased in our vacancy rate. As demand for industrial last three years. As interest rates remain low, product increases, specifically large bay format and post-Covid demand has been strong, the warehouses and single-use facilities with number of purchasers has increased, which in INVESTMENT SALES yard, supply is quickly diminishing. In order for turn has resulted in a limited supply of owner- tenants and purchasers to secure their desired user properties with yard. This has correlated • 3 Investment Sales facilities, they have been required to act fast to increased demand for available land. • $24,450,000 Sales Volume in their decision-making. • 195,716 sq. ft. Sold • $125 per sq. ft. Avg. Price Quarterly Vacancy & Absorp�on (2014 - 2021) 3,500,000 9.00% CONDO SALES 3,000,000 8.00% • 35 Condo Sales 2,500,000 7.00% • $30,675,374 Sales Volume 2,000,000 6.00% • 157,143 sq. ft. Sold 1,500,000 5.00% • $195 per sq. ft. Avg. Price 1,000,000 4.00% OWNER/USER SALES 500,000 3.00% • 32 Owner/User Sales 0 2.00% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 • $132,910,640 Sales Volume -500,000 2014 2015 2016 2017 2018 2019 2020 2021 1.00% • 966,661 sq. ft. Sold -1,000,000 0.00% • $138 per sq. ft. Avg. Price Absorp�on (Sq. Ft.) Vacancy Barclay Street Real Estate Ltd. 117, 4950-106th Avenue SE, Calgary, AB www.barclaystreet.com CALGARY INDUSTRIAL STATS BY AREA 02L N 03W T S E NW R T ST N E 14 C 02K 144 AV NW 144 AV NW STONEY 4 03H 03C 02B 03D 02C NOLAN HILL NORTHEAST SAGE HILL EVANSTON 02A REDSTONE COVENTRY HILLS 03I CALGARY YOUNG 5.88% OFFENDER CENTRE NW NW D SHERWOOD 02E 02F R COVENTRY HILLS ST E STONEY 1 CENTRE SKYVIEW G 85 D I RANCH R CALGARY STONEGATE Y Y REMAND CENTRE Vacancy CK KINCORA COUNTRY LANDING BOW RIVER N RO HILLS VILLAGE O COUNTRY HILLS S CORRECTIONAL CALGARY E TOWN CENTRE C CENTRE CORRECTIONAL CENTRE R E PANORAMA E NORTHPOINTE COUNTRY HILLS BV NE K COUNTRY HILLS BV NE BEACON HILL HILLS CENTRE ROYAL OAK CENTRE ROYAL VISTA HARVEST 2,693,953 SF W HILLS N LAKE ROCKY HIDDEN VALLEY R HAMPTONS N HARVEST T V HIDDEN RIDGE B E VA LLEY S HILLS E LAKE STONEY 2 ILL CITADEL RC H 03S T STONEY SA S COUNTRY E Vacancy SF V R 3 ROYAL OAK HILLS A H E N T S 6 MACEWAN SANDSTONE 3 SADDLE RIDGE VALLEY GLEN W COUNTRY HILLS ES EDGEMONT T AURORA NW VILLAGE NO SE C R DR EE BUSINESS PARK ARBOUR NW K 45,803,737 L LAKE L RD HI E PA SSENGER E E ARBOUR TERMINAL E OS B LAKE N E UL DD IN BEDDINGTOGT N HEIGHTS CALGARY CO O BEDDINGTON N SQUARE MI MI HAWKWOOD BEDDINGTON B INTERNATIONAL Total Inventory V CO-OP CENTRE CROWFOOT N Saddletown 03V VE PLAZA E CROWFOOT EL BEDDINGTON BV NE AIRPORT 80 AV NE VILLAGE CARGO TW TERMINAL TUSCANY Crowfoot SADDLERIDGE INDUSTRIAL GENESIS 01F WELLNESS RANCHLANDS CENTRE SCENIC NE ACRES E Martindale N 01G BV T E S 6 HUNTINGTON HILLS DG I 3 MARTINDALE NR TARADALE O W C N DEERFOOT L R FA D NOSE HILL PARK BUSINESS McKnight LL I 64 AV NW 64 AV NE H Westwinds DALHOUSIE CENTRE E S O N CASTLERIDGE LAYCOCK DALHOUSIE PA RK DEERFOOT CORAL SILVER STATION OUTLET MALL SPRINGS E CALGARY WEST SPRINGS N SOCCER CENTRE Dalhousie NORTH PRAIRIE WINDS T NE CENTRAL S 05B THORNCLIFFE PA RK 01B HAVEN 8 ST 6 BOWMONT FALCONRIDGE CORAL UPPER 11 PA RK SKYLINE SKYLINE SPRINGS WESTWINDS LAKE NORTHLAND WEST EAST VILLAGE BOWNESS PARK McKNIGHT VILLAGE SHOPPES CASTLERIDGE SHOPPING CENTRE VALLEY RIDGE PLAZA VARSITY NORTH N BRENTWOOD CALGARY T 3.68% HAVEN GREENVIEW WINTER CLUB S PEGASUS E R T N E WHITEHORN HIGHWOOD C 01H HORIZON GREENWOOD/ BO W GREENVIEW R TEMPLE I VE R E Vacancy CALAWAY GREENBRIAR Brentwood MONTEREY Whitehorn N PA RK INDUSTRIAL McCALL CRESTMONT HIGHLAND T NORTH E BRENTWOOD S PARK N VILLAGE PARK PARK 2 BOWNESS 5 MARKET MALL CAMBRIAN CALGARY WEST McCALL AIRWAYS ST MALL 01C CAMPGROUND CHARLES- QUEEN'S PARK SPRING GARDENS 8 HEIGHTS LAKE 6 WOOD QUEENSCEMETE RYPARK TRANSIT DEPOT 01D COLLINGWOOD VILLAGE V NE V NE CANMORE 32 AV NE 32 A 32 A University PA RK 01I CANADA 05C OLYMPIC 01E PETER PA RK LOUGHEED 1,071,914 SF SPITAL SOUTH HO VILLAGE E UNIVERSITY OF CALGARY ROSE- SQUARE N 06B MONTGOMERY MOUNT LEISURE MONT AIRWAYS T Rundle S CENTRE CONFEDERATION PLEASANT RUNDLE 6 BANFF PA RK 3 E SUNRIDGESUNRIDGE N PINERIDGE ALBERTA FOOTHILLS TRAIL NO MALL T S S CHILDREN'S ATHLETIC E 2 Vacancy SF PA RK C R HOSPITAL 5 Banff E SHOULDICE E VISTA UNIVERSITY Trail TUXEDO WINSTON HEIGHTS/ K COUGAR RIDGE PA RK McMAHON HEIGHTS HEIGHTS STADIUM PARK MOUNTVIEW CAPITOL HILL MONTEREY Lions SQUARE FOOTHILLS NORTH HILL SOUTHERN N Park PATTERSON HOSPITAL SHOPPING CENTRE ALBERTA TRANS INSTITUTE OF ST FRANKLIN TECHNOLOGY CANADA WEST RE MAYLAND MALL ROSEDALE T 29,093,943 ST. ANDREWS HOUNSFIELD HEIGHTS/ CRESCENT N MARLBOROUGH SPRINGS BRIAR HILL SAIT/ACAD/Jubilee HEIGHTS HEIGHTS HEIGCE HTS PA CIFIC EDWORTHY ALBERTA COLLEGE RENFREW PLACE ABBEYDALE OF ART & DESIGN PA RK MALL Marlborough POINT WILDWOOD RILEY PARK MARLBOROUGH MCKAY PARKDALE PARK SW SUNNYSIDE Total Inventory COACH T MERIDIAN S WEST Sunnyside TELUS SPARK HILL PRINCE'S ISLAND NORTHGATE 5 THE NEW MARLBOROUGH VILLAGE 8 PA RK HILLHURST SCIENCE CENTRE MALL EAU CLAIRE MALL LOWERY HILLHURST E GARDENS ER BO V W N RI RI W EAU VE 06A BO R MAYLAND ST CLAIRE HA Bridgeland RRY 8 MARKETCHINATOWN HAYS BRIDGELAND/ Downtown BUILDING 6 / Memorial FOREST HEIGHTS E STRATHCONA RIVERSIDE N 10A West - Kerby DOWNTOWN C STRATHCONA O SQUARE N T BOW V RIVER Station E ST Zoo Franklin S SHOPPING SPRUCE C N . PA COMMERCIAL COREE T TR PARK ICK 2 N I ' O S Barlow / CENTRE T 5 R N ISLA E ND CLIFF BUS MILLENIUM PENBROOKE DOWNTOMEWAWNTA FORT ZOO Max Bell DEPOT PARK C A I ARMOURIES Z CITY P CALGARY A DOWNTOWN DEANE E M L / WEST END HA Y P LL MEADOWS S G L HOUSE Sunalta L ST. GEORGE'S MU O E ASPEN EAST VILLAGE T N S B ISLAND Shaganappi A C E ALGARY O S U ALBERT RO W M VICTORIA PARK ROSS- TOWER WOODS 6 LT TRANSIT DEPOT APPLEWOOD WESTGATE Point SUNALTA PARK/ 3 CARROCK WESTBROOK Victoria 9 EST AV PARK MALL NA S RADISSON Park / R E PEARCE W E SHAGANAPPI ARBO V BELTLINE RI ESTATE HEIGHTS SU W FOREST Sirocco Stampede O CHRISTIE B L RED CARPET 45 St SW E 69 St SW Westbrook SC SCARBORO INGLEWOOD 17 AV SW PARK LAWN 17 AV SE 17 AV SE LOWER FOREST LAWN W MISSION CALGARY SHOPPING S MOUNT ROYAL ELLISTON BANK- TA LISMAN EXHIBITION CENTRE T LAKE SOUTHEAST SPRINGBANK SPORTS CENTRE & S GLENDALE OW RAMSAY VIEW F STAMPEDE SOUTHVIEW OPTIMIST FOREST LAWN HILL 69 ATHLETIC UPPER PA RK KILLARNEY/ IF PA RK MOUNT ROYAL Erlton / INDUSTRIAL GLENGARRY CL NGAL Stampede RICHMOND BU UNION E EL BOW S RIVER CEMETERY SOUTH INGLEWOOD T S CHINOOK BIRD SIGNAL COLLEGE 2 CALGARY ROX- 5 HILL RIDEAU SANCTUARY 4.06% GLENBROOK BORO PARK 10C ERLTON ALYTH/ RUTLAND BONNYBROOK SIGNAL HILL CENTRE RICHMOND PARK ELBOW PARK SQUARE Vacancy DOVER ERIN 10B CFB 39 Avenue - CURRIE RIVER WOODS PA RK ALTADORE R E PARK- V I R STANLEY W HILL O PARK HIGHFIELD B L WESTHILLS E TOWNE CENTRE GLAMORGAN MOUNT ROYA L BRITANNIA GOLDEN DISCOVERY RIDGE UNIVERSITY ELBOYA TRIANGLE EASTFIELD 2,509,507 SF LINCOLN SANDY VALLEYFIELD PARK BEACH 09D GLENMORE ATHLETIC PA RK MANCHESTER WINDSOR PARK CFB NORTH Vacancy SF BURNS 09H - LINCOLN GLENMORE PARK PMQ PARK INDUSTRIAL MANCHESTER BEL-AIRE CHINOOK BEAVER LAKEVIEW SHOPPING INDUSTRIAL DAM CENTRE FLATS O STARFIELD E IMAX L MEADOW- B G B MAYFAIR Chinook O O W D W R I E R LARK PARK VE 09K I N E 61,778,481 V R E R R S D OGDEN WEASELHEAD T S S FLATS ROCKYVIEW FAIRVIEW E FOOTHILLS 2 E E SHOPS 5 HOSPITAL GLENDEER INDUSTRIAL HERITAGE GL NORTH GLENMORE DG KELVIN TOWNE PA RK BUSINESSCENTRE RI EA OGDEN Total Inventory GROVE MANCHESTER PARK BOAT KINGSLAND DOCK INDUSTRIAL HERITAGE PA RK CHINOOK FAIRVIEW GREAT PLAINS DEERFOEASTOT PARK MEADOWS BOAT GLENMORE RESERVOIR DOCK HERITAGE DR SW HERITAGE DR SE FAIRVIEW SO Heritage UT H GL EN INDUSTRIAL RIVERBEND MO RE SHOPPING PA RK BOAT CENTRE SOUTH DOCK GLENMORE SECTION 23 LANDING FOOTHILLS HAYSBORO CARBURN 09N PA RK Riverbend 90 AV BASWYVIEW ACADIA AL AN T C RIC DIST N MACLEOD IO AT PLAZA IG R SOUTHLAND E IR PUMP N S CROSSING R TE S T HILL E SE W S MACLEOD 8 MALL SE 6 ST PALLISER ST OUTSIDE CITY LIMITS Southland 24 OAKRIDGE SOUTHLAND DR SE SOUTHLAND 52 LEISURE CENTRE 12A SOUTHLAND DR SW MAPLE SE SHEPARD RIDGE ST INDUSTRIAL 84 WILLOW WILLOW PA RK PARK SW VILLAGE 8.10%