Calgary industrial real estate market sees vacancy rate rise

CALGARY — Calgary’s industrial real estate market showed stability through 2012 with the overall vacancy rate finishing the year at 5.05 per cent, up slightly from 4.71 per cent in the fall, says Colliers International.

In a market report, the company said total absorption for 2012 exceeded the yearly average, up from 2,545,817 square feet in 2011 to 3,718,800 square feet in 2012. The vast majority of this absorption occurred early in the year, peaking in the third quarter with the completion of the 1.3 million square foot Target Distribution Centre in Balzac, said Colliers.

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