Calgary’s industrial market stabilized in September 2025, with vacancy reaching 4.5% following a surge of new supply. Net absorption totaled 3.3 million square feet over the past year, marking the lowest level since 2021, though pending deals and a stronger pre-leasing environment point toward gradual improvement. Small-bay industrial units remain the most active segment, while larger-format spaces are taking longer to absorb. Calgary’s affordability and higher cap rates continue to support its appeal for both distribution users and investors.
Beyond market fundamentals, federal policy initiatives are shaping long-term industrial demand in Calgary. The relocation of the Major Projects Office (MPO) headquarters to Calgary signals a sustained federal commitment to Western Canadian infrastructure under the Building Canada Act. With project approvals accelerating, Calgary is positioned to support construction, clean energy, and mineral development, driving demand for logistics, construction, and fabrication facilities. Assets aligned with major infrastructure corridors are expected to benefit as contractors, suppliers, and service firms position themselves to participate in Canada’s evolving infrastructure agenda.
📍 See the September 2025 Market Update for Calgary’s latest industrial trends and insights.
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