Industrial real-estate: vacancy rate shrinking
Pete Curtis - Tricia Flatley
May 28, 2011 08:08:43 AM
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.