Edmonton Retail Figures H1 2022
October 5, 2022
‒ The retail market experienced 377,000 sq. ft. of positive net absorption in the first half of 2022.
‒ Vacancy rates for Shopping Centers decreased by 98 basis points (bps) from H2 2021.
‒ There was an increase in new leases by food and beverage franchise groups, a sector of the market which remained active throughout the pandemic and is expected to continue growing.
‒ Overall, there has been an uptick in activity in the retail market. Although the market experienced supply chain delays and increased construction costs, the total vacancy rate has declined by 50 bps since the second half of 2021. The strong leasing activity seen across multiple submarkets is reflective of the retail market’s resiliency and the strength of the Edmonton economy.