MARKET TRENDS
- Asking rental rates climbed 10.7% year over year despite vacancy creeping higher. New product with higher face rates are a major contributor to this trend.
- Leasing activity was primarily driven by smaller occupiers in Q1, with only a single lease signed above 40,000 square feet.
- Amid economic uncertainty, Edmonton maintains a construction pipeline totaling 1.3 million square feet, with a mix of speculative and build-to-suit developments.