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Calgary industrial construction hits near-record level

By Mario Toneguzz for Property Biz Canada

The pace of industrial real estate construction in the Calgary region is the second-highest in the city’s history as the robust market continues to see high demand.

Although a significant amount of the current construction is on spec, millions of additional square feet are planned or expected to begin construction in coming years if current market conditions continue.

With all the new development taking place and in the pipeline, one might think older industrial buildings will be overtaken in popularity by new shiny structures with all the amenities.

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Not necessarily.

Jordan Carlson, director of investment for Anthem Properties Group, told the Calgary Real Estate Forum on Oct. 23 there’s still a place for older buildings in the market and the Vancouver-based company is actively pursuing properties to purchase in Calgary. In May, the company, which has a strong presence in Calgary with its multi-family residential projects, announced it had acquired four industrial properties in the city.

Continue reading the full story here >>

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