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Second quarter activity continues to firm up the Calgary market
Calgary’s industrial market remained in a much stronger position than during the same period last year, with overall vacancy decreasing through Q2 and an additional 0.5 million square feet (msf) of new product completed. Multiple spec-build projects are nearing completion, including the Princess Auto distribution facility at Stoney North Logistics Centre, and are expected to contribute to a busy Q3. This new product is also expected to provide a meaningful boost to absorption.