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The Edmonton industrial market experienced a buzz in inquiries in the first month of 2017, that seemed to trickle off towards the middle and end of the first quarter. As with much of 2016, many groups continued to express interest in purchasing or leasing space. But similar to 2016, however, these groups were unable to pull the trigger on acquiring any new space. There still seems to be somewhat of a disconnect between tenant expectations of what the lease rate should be and what actual lease rates are. Contrary to tenant expectations, average asking rates actually increased quarter-over-quarter to $10.03 per square foot.
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