Fort McMurray, located in the Wood Buffalo region, is known for its affordability and significant role in Canada's oil sands industry. The area boasts one of the most affordable rental markets in the country, with rents about one-third lower than the national average, making it an attractive destination for newcomers. Since 2015, oil sands production has seen a substantial increase, adding over a million barrels per day, which underscores the region's economic importance.

Overall, Fort McMurray is experiencing positive economic momentum as it heads into 2025, driven by strong performance in key sectors like real estate and oil sands production. Fort McMurray is known for its robust industrial sector and strategic location in Alberta's oil sands region, has seen significant commercial real estate activity in 2024. Here, we highlight some of the most notable transactions that have shaped the market this year.

1. 4500 Saprae Creek Trail

• Sale Price: $6,000,000
• Price/SF: $442.48
• Sale Date: October 10, 2024
• Buyer: Golosky Services Ltd
• Seller: Knelsen Sand & Gravel Ltd.
• Details: This 2-star industrial property, built in 2000, spans 13,560 SF on a 16.68-acre lot. The property was sold as an investment with financing from Servus Credit Union.

2. 385 Snow Eagle Drive

• Sale Price: $1,699,000
• Price/SF: $106.19
• Sale Date: June 3, 2024
• Buyer: Private Individual
• Seller: Private Individual
• Details: This 3-star industrial warehouse, built in 2018, covers 16,000 SF on a 4.36-acre lot. The property was fully leased at the time of sale.

3. 425 Taiganova Crescent

• Sale Price: $1,500,000
• Sale Date: May 1, 2024
• Buyer: Carpenters Regional Council Building Corporation
• Seller: Alberta Construction Safety Association
• Details: This transaction involved 1.23 acres of commercial land, sold for $1,219,512 per acre. The land is zoned for commercial use and is located in a prime area of Fort McMurray.

4. 133 Mackenzie Street

• Sale Price: $1,365,000
• Price/SF: $157.84
• Sale Date: February 16, 2024
• Buyer: AAA Exchange (Edmonton) Ltd
• Seller: Court of King's Bench Alberta
• Details: This 2-star industrial warehouse, originally built in 1978 and renovated in 2004, spans 8,648 SF on a 0.50-acre lot. The sale was court-appointed and included financing from the Bank of Montreal.

5. 10019 Franklin Avenue

• Sale Price: $935,000
• Sale Date: March 14, 2024
• Buyer: SMG Builders
• Seller: Regional Municipality of Wood Buffalo
• Details: This sale involved 0.59 acres of land, sold for approximately $1,584,745 per acre. The vacant building on the parcel was demolished in 2023 to make way for new development.