.jpg "Image treatment")
Large build-to-suit deliveries help offset net absorption as vacant space increases
Calgary’s industrial market added over 1.0 million square feet (msf) of new inventory in Q3 2025, the majority of which are fully leased build-to-suit developments. Amazon’s Interlink Logistics Park 2B project has delivered after some delays, as has Triple Eight Transport’s owner-occupied facility. There was an increase of over 0.8 msf of vacant space in Calgary driven by move-outs from existing inventory, which led to a third consecutive quarter of almost flat net absorption. Vacancy now sits at 3.8%, up 60 basis points (bps) from last year. Calgary’s construction pipeline has begun tapering off again after a slight uptick at the beginning of 2025 and is now approaching historic lows.