Investment activity in the Calgary and Edmonton commercial real estate markets is on the rise, according to Altus Group, a leading provider of software, data solutions and independent advisory services to the commercial real estate industry.
Year-to-date investment volumes in Calgary up to and including the third quarter total $2.55 billion, up 11 per cent from the same period in 2017. The third quarter of 2018 saw 141 transactions, representing a total value of $893 million.
“With an eye to the choppy results of two struggling asset classes, office and apartment, the rise in overall commercial investment from this time last year is a positive note, particularly in the land and industrial markets,” said Ben Tatterton, Manager, Data Solutions at Altus Group.
Year-to-date investment levels in Edmonton have reached $3.1 billion, a 38 per cent increase from the first three quarters of 2017 and an 86 per cent increase from the first three quarters of 2016. The third quarter saw 198 transactions over $500,000, which equals a 43 per cent increase from the same quarter last year.
“We’ve observed strong overall investment levels for two consecutive quarters in Edmonton which were bolstered by large purchases in the apartment and office sectors. These larger deals aside, the overall marketplace has been steady over the past year,” said Tatterton.
The views, opinions and positions expressed by columnists and contributors are the author’s alone. They do not inherently or expressly reflect the views, opinions and/or positions of our publication.
