Edmonton Investment Transaction Stats – Q3 2017
Office and Retail Sectors Boost Edmonton Commercial Real Estate Investment in Q3 2017
The Edmonton market area registered 200 transactions for a total investment value of $791 million in Q3 2017
EDMONTON ‒ Altus Group, a leading provider of commercial real estate services, software and data solutions, today announced the Edmonton market area’s commercial real estate investment results for Q3 2017. In total, 200 transactions over $500,000 were captured, worth $791 million. This represents a 41% increase from the second quarter of this year and a 25% increase from the same quarter last year.
Source: Altus Group
The largest quarterly increases in dollars volumes were seen in the Office and Retail sectors. The Office sector saw 19 transactions worth a total of $109 Million. This represents a 244% increase from last quarter and a 247% increase from Q3 2016. The largest Office transaction of the quarter was 9888 Jasper Avenue N.W., which sold for $60,630,000. There were 47 Retail transactions worth a total of $246 million, a 49% increase from Q2 2017 and a 31% increase from Q3 2016.
Industrial was the only sector to post a decline from Q2, with the dollar volume down 44%. The 46 transactions had a total value of $112 million. The Apartment sector recorded 12 transactions worth $51 million, up by 36% from Q2 2017 but down by 40% from a year earlier.
Investment in both the Residential and ICI Land sectors increased in Q3. Residential Land saw 15 transactions worth $46 million, up 28% from Q2. ICI Land saw 59 transactions worth $152 million, an increase of 74% from Q2.
The largest share of Q3 dollar volume was for the Retail sector with 31.1%. A transaction involving three hotels (The Mettera, Varscona and Matrix) for $65,000,000 bolstered the Hotel sector’s share to 9.4%. The smallest share was the Residential Land sector at 5.9%.
Source: Altus Group
“Several larger deals boosted activity in Q3, bringing investment levels to the second highest quarter since the downturn in early 2015 and lifting year-to-date sales up by one-third over last year,” noted Paul Richter, Director, Data Solutions, Altus Group.
ABOUT DATA SOLUTIONS
Data Solutions connects the Canadian real estate industry through the delivery of data with unparalleled breadth, integrity and relevance. We cover new homes, investment transactions and commercial market inventory in key markets, and also provide intelligence on the national housing market and consumer home buying and borrowing patterns.
Our solutions are used by real estate industry stakeholders to gain market intelligence, identify and validate opportunities, benchmark, strategically plan, manage risk and more.
Data Solutions is part of Altus Analytics, the software and data solutions business of Altus Group, where our focus is to empower real estate clients and partners to work collaboratively to enhance decision making, drive performance and optimize transactional efficiency. Our solutions enable firms to better organize and manage data and connect with the right information and analytics to help them gain a complete picture of real estate assets, portfolios and transactions.
For more information on Data Solutions, please visit www.altusgroup.com/datasolutions.
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 Altus 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 2,500 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 shares are traded on the TSX under the symbol AIF.
For more information on Altus Group, please visit: www.altusgroup.com.
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