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The theme for the past two years in Edmonton has been regarding the energy crisis and the resulting impact that it has had on the industrial market. Due to the concentration of energy-related companies that occupy space in the GEA, the crash of oil prices led to a significant dip in leasing activity that persisted throughout 2016 and 2017. Nearing the end of Q3 this year, we began to experience improvements in activity in the SE submarket which carried over into Q4. The Nisku and Leduc submarket has considerably improved in demand and leasing activity this past quarter, after having been the most impacted submarket by the energy crisis.
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