Reality finally setting in for Calgary Industrial Owner Occupants

Aug 13, 2010 by

The reality of the economic downturn has finally settled in with Calgary Industrial owner occupants as they are now asking less for their buildings than during the heart of the downturn. A recent report we compiled shows that overall asking prices for formally listed owner occupied industrial buildings fell $29.09 per square foot from an average asking price of $153.37 per square foot at year end 2009 to $124.28 per square foot at July 31st, 2010. Another interesting stat is the % of potential turnover. This is the % of the overall market that is likely to change hands via sale to a new owner. In 2009 year end there were 52 owner occupied buildings formally listed for sale or 2.96% of the overall market in this category. Presently there are 33 owner occupied buildings listed for sale or 1.84% of the overall market for a decline of 19 buildings and 1.02%. To put it in perspective, there are a total of 1,797 single use owner occupied buildings in the Calgary Industrial market. What does this mean? Well things will be getting tighter and once again asking prices will likely be on the rise in the near future as supply is declining. There are 19 fewer buildings to choose from. We are currently compiling the final information for the report on actuals sales for the similar period of time. With the economic downturn fading there has been marked increase in demand and as we all know from our real estate economics courses, increasing demand and decreasing supply equals greater prices.

See the Proof – Advent Commercial Owner User Sales Summary – July 2010

Which buildings are listed for Sale?

So what is my building worth? Email to find out?

See Advent Listings

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