MARKET TRENDS
- New developments continue to break ground while absorption remains positive. More construction is anticipated through midyear, with expected ground breakings such as 20603 114 Avenue NW – Building 1.
- New leases and build-to-suit deliveries drove quarterly absorption with notable moves at Discovery Centre IV, 15804-15836 142 Street NW and the Genetics Building, combining for 302,000 square feet of absorption.
- Investment remains strong among industrial properties and land, with more than $240.0 million in investment through Q1. This points toward a positive outlook for this market as the year gets underway.