Strong numbers in retail, industrial, and office segments continued to keep the market afloat
A fresh study by the Altus Group has found that total investment volumes in the Edmonton commercial real estate segment grew to $2.89 billion in 2017, marking the second consecutive year-over-year increase in this metric.
In its “Edmonton Flash Report 2018”, Altus stated that the retail sub-segment was the most significant contributor to this volume, accounting for $586 million in investments over 136 transactions in 2017.
This was in contrast to the industrial sector, which declined by 14%, although it remained the second highest sub-segment in terms of overall property sales volumes.
Read more: Tax hikes might drive businesses away from Edmonton
In terms of absolute dollar value, Edmonton’s office sector exhibited the largest year-over-year growth in volume, posting a nearly three-fold increase to $425 million in 2017.
Q1 2018 was both the retail and industrial sectors’ strongest quarter since Q1 2013, according to the Altus study.
Related stories:
Alberta’s recovery will owe a lot to the commercial segment – observers
Demand for Alberta commercial property intensifies amid looming legalization
