Edmonton Office Figures Q1 2026

‒    The Edmonton office market entered 2026 with an uptick in leasing activity. Overall vacancy increased modestly, rising 10 basis points (bps) to 19.1%. Leasing momentum was driven by the Suburban market, which experienced strong tenant demand and an overall vacancy decrease from the previous quarter of 30 bps to 15.6%.

‒    Multiple Suburban submarkets began the year with moderate changes in vacancy this quarter, most notably the West End submarket where the vacancy rate decreased 160 bps to 16.7%. The Southside submarket also noted a 100 bps decrease in vacancy to 16.8% due to a strong leasing quarter for Class B assets.

‒    Downtown began the year with a moderate 40 bps vacancy increase to 21.3%. Several large transactions within this submarket reinforced the continued flight‑to‑quality trend, signaling sustained tenant confidence in premium assets.

‒    Q1 2026 marked a turning point in the Downtown market with many large tenants returning to the office, resulting in increased foot traffic and improved market sentiment.