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Commercial and industrial lease rates

Commercial lease rate ranges and ratings (per sq. ft.)

Tenant TypePoor FairAverage Good Excellent Average Operating Costs
Retail $8  $12 to $25  $16 to $31 $21 to $38 $28 to $46 $8 to $13
Office None  $18 $16 to $21  $15 to $24 $18 to $26 $5 to $8
Restaurant/Fast Food None  $12 $13  $25 to $32 $30 to $42 $10 to $35

Industrial lease rate ranges (per sq. ft.)

Tenant TypeFair AverageGoodAverage
Operating Costs
Condo Bays $10 to $16 $10 to $20 $11 to $24 $3 to $6
Industrial Office $4 $6 to $10 $8 to $18 $3 to $8
Warehouse $6 to $7 $6 to $11 $7.50 to $13 $2 to $6

Source: City of Airdrie Assessment January 2021. The above noted lease ranges are pursuant to the municipal government act utilizing typical market conditions in the municipality and do not include additional operational cost that may occur.