Calgary Industrial Figures Q1 2026

‒    As a result of limited construction completions in 2025, the number of options available to tenants has dropped across most size ranges. This is especially true for space under 5,000 sq. ft., where total options available have fallen by 33.0% year-over-year

‒    Q1 2026 saw 47,000 sq. ft. of positive net absorption primarily driven by 245,000 sq. ft. of new supply delivered at 95.9% pre-leased. Over the past three years, 59.2% of all new supply has been pre-leased. This contributed over 8.1 million sq. ft. of positive net absorption during this time. Throughout 2025, this stabilized market indicators amid otherwise modest activity.

‒    Inventory under construction continues to rise, reaching 4.7 million sq. ft., the highest it has been since Q4 2023. Speculative inventory under construction rose to 1.7 million sq. ft. as developers have begun to see opportunity again after several years of a declining pipeline.

‒    894,000 sq. ft. of speculative new supply is expected to be delivered in 2026, providing some relief to a tightening market.