Edmonton Commercial Stats – Q3 2016
Increase in overall commercial property investment in Edmonton
176 sales transactions over $1 million were recorded in Q3 2016, for a total investment value of $629 million
EDMONTON ‒ Altus Group, a leading provider of commercial real estate services, software and data solutions, today announced the results for the third quarter of 2016 for commercial real estate investment for the Edmonton market area. A total of 176 sales transactions were recorded in Q3, totalling $629 million. This equals a 35% increase over the previous quarter and a 32% increase compared to the same quarter in 2015.
The two asset classes with the largest market share in Q3 2016 were the Retail and Industrial sectors. A total of 29 Retail transactions were recorded for a total investment value of $182 million, a 134% increase over the value recorded for Q2 2016. Industrial transactions totalled $158 million from 31 deals; equalling a 116% increase from the previous quarter. Together, these two sectors accounted for over half of all activity in Edmonton in Q3.
Gains were also recorded in the ICI Land sector, where 66 transactions totalled $139 million, an increase of 48% over Q2 2016. The Apartment, Residential Land and Office asset classes recorded decreases from the previous quarter:
- Apartment: 21 transactions worth $88 million, a decrease of 13%
- Residential Land: 9 transactions worth $25 million, a decrease of 69%
- Office: 20 transactions worth $37 million, a decrease of 8%
“The third quarter was one of mixed results, with various asset classes showing increases, decreases or stagnation. Overall the net impact was a positive increase from both the previous quarter and the same quarter last year,” noted Paul Richter, Director, Altus Data Solutions Canada, Altus Group.
These results were previously released under the REALNET® Canada name, whose independent and comprehensive data, analyses and insights on the commercial real estate investment and residential development markets is collected and compiled using a nationally consistent research process established in 1995. Going forward they will be released by Altus Group, powered by a proprietary data platform led by Altus Data Solutions Canada. This team is the formal unification of leading Canadian real estate data companies previously acquired by Altus Group, including REALNET® Canada.
ABOUT ALTUS DATA SOLUTIONS
Altus Data Solutions connects the Canadian real estate industry through the provision of data with unparalleled breadth, integrity and relevance, delivered through a proprietary technology platform with integrated analytics.
This unified data solution, combined with trusted industry expertise, empowers our clients to make faster, more informed decisions in a competitive and dynamic real estate industry.
ABOUT ALTUS GROUP LIMITED
Altus Group Limited is a leading provider of independent advisory services, software, and data solutions to the global commercial real estate industry. Our businesses, Altus Analytics and Expert Services, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain market insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,300 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world’s largest real estate industry participants across a variety of sectors. Altus Group pays a quarterly dividend of $0.15 per share and our securities are traded on the TSX under the symbols AIF and AIF.DB.A.
For more information on Altus Group, please visit: www.altusgroup.com.
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