1K 
A recent report released by Altus Group bodes well for a coming economic recovery in one of the longest recessions in the history of Alberta. According to the report, which summarizes investment property transactions in the Edmonton area for 2016, commercial property transactions last year were valued at $2.3 billion, a 12% increase over the previous year. The strong increase is buoyed in particular by the retail sector, which saw its best year since 2013 with transactions totaling $524 million, a 172% increase from 2015.
Though the apartment sector was down and office transactions remained virtually flat, the residential land market also saw a substantial increase of 78% ($272 million), as did industrial with a 47% increase (to $607 million) over the previous year.
The full report can be read here.
The current year is already shaping up to show new gains, as Alberta Investment Management Corporation (AIMCo) announced its acquisition of HSBC Bank Place and Enbridge Place, a transaction representing a total of 550,000 square feet of Class A downtown office space.
Want to get involved in the discussion? Check out the associated Forum thread or leave a comment below.
