Land and Building – Purchase and Leasing
A wide range of industrial land is available for development in Edmonton.
Land prices vary based on size, zoning and location. In the first quarter of 2017 the average price of full municipally serviced industrial land per acre was estimated at $625,000.
Average Land Sales by Location (Avison Young)
Southeast - $700,000/acre
Northeast - $525,000/acre
Edmonton’s average owner/user industrial building sales per square foot (Avison Young) as of Q1 2017 were $90 - $206.
Downtown Class B average net rent dropped 12.7% from the previous quarter to $14.26 per square foot while overall net rent across Edmonton remained stable at $19.58 per square foot.
With the current absorption rate and new product coming on stream, there should be enough supply to meet the immediate demands for the next couple of years.
Offsite fees and levies are calculated against cost of delivery of the services. Developers pay for the cost of municipal improvements, such as roads and utilities, within the lands they develop.
Development can trigger demands for municipal improvements that service a larger area such as arterial roads and sewer trunk mains. The costs of these major services are levied against a larger, "benefiting" area and a number of developers pay for them.
Off-site levy rates are set by City Council.