Calgary Industrial Market Report

Industrial fundamentals are regaining momentum. Calgary’s industrial market has strengthened after a period of supply-driven softening in 2023 and 2024, as elevated deliveries pushed vacancy rates higher from historic lows. More recently, moderating construction and improving leasing activity have pushed vacancy rates lower. Persistent competition for small- and mid-bay space has been complemented by renewed demand for larger distribution facilities. Near-term uncertainty may temper the recovery, but tightening conditions and disciplined supply position the market favourably for its next phase of growth.