Available land, tax savings and accessibility are spurring an industrial real estate boom on the edges of Edmonton, with the Leduc/Nisku area leading the push, shows the latest industrial development report from Colliers International.
As of March 2019, there was 2.7 million square feet of space under construction in the Edmonton area, with nearly two thirds outside city boundaries, 38 per cent of it in Leduc/Nisku, says the report released Monday by the global real estate and investment management company.
The growth comes on the heels of 2018, which saw 2.2 million square feet of industrial space completed, with 74 per cent occurring in the outskirts of Edmonton.
According to Colliers data, 80 per cent of all available industrial land in the greater Edmonton area is outside the city, where costs tend to be cheaper and space is more expansive. Taxes outside the city are also hovering around $1 to $2 dollars cheaper per square foot, says the report. In addition, accessibility to areas outside the city has become more convenient with the completion of Anthony Henday Drive in 2016.
In 2018, two major buildings were completed south of the city in Leduc/Nisku, including the new 403,000-square-foot Ford Distribution Centre. The company nearly doubled its space, moving from the old Edmonton location at 116 Avenue and 181 Street. Read More