Price gap narrowing between serviced and unserviced industrial land in Calgary
Greater Calgary area land prices
- Over the last four years, the gap in sale price between serviced and unserviced industrial land has shrunk on a per acre basis – although overall prices per acre remain on the rise.
- Demand is high in Calgary’s industrial market, with most of the supply located in Rocky View County (Balzac & county lands east of the city). Meanwhile, the price per acre for serviced land sold by the City of Calgary (within the city limits) is also rising.
- Drivers of this trend include strong demand from users that are buying land to meet their outside storage needs for their operations, such as oil service and manufacturing as well as trucking companies.
- We anticipate the price gap will further narrow as more users absorb more space and as servicing costs continue to increase, pointing to the desirability of both serviced and unserviced land.
August 16, 2024
