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Quiet start sets the stage for a busy mid-year
Calgary’s industrial market entered the year in a stronger delivery position than was seen during the same period last year, with 0.2 million square feet (msf) of new product completed. This contributed to 0.1 msfof positive net absorption recorded in the first quarter. Key deliveries included Eastlake Industrial Business Park 2 in the Southeast and 6 Wrangler Place in East Calgary. Several build-to-suit projects are nearing completion in mid-second quarter and are expected to provide a meaningful boost to absorption.