In a report Tuesday, Barclay Street Real Estate said that Calgary's overall downtown office vacancy rate increased by 0.7 of a percentage point to 24.2 per cent in the first three months of the year.
Sales of Edmonton commercial real estate soared by more than $500 million in 2016 compared to a year earlier as investors poured $1.81 billion into the Alberta capital.
Suburban office vacancy rose 0.3 per cent during the fourth quarter of 2016 to 22.6 per cent, according to a recent Barclay Street Real Estate report.
During the second half of 2016, rays of light began breaking through the two-year gloom and had a positive impact on the Calgary commercial real estate market, according to a new report by Barclay Street Real Estate.
Calgary commercial experts say local retailers are becoming increasingly savvy in their fight for market share, challenging the traditional brick-and-mortar concept of doing business in favour of a pop-up model.
Competitive rates, low vacancy may benefit long run
During the fourth quarter of 2016, Beltline vacancy decreased by 1.8%% to end the year at 17.9%, says a new report by Barclay Street Real Estate. The quarter also experienced net positive absorption of 135,000 square feet, bringing full-year absorption to negative 41,000 square feet. Barclay says this is a significant improvement over 2015 when 429,000 square feet was returned to the market.
Calgary's industrial market shows signs of turning the corner
Real estate officials expect conditions to support turnaround in downtrodden commercial market
Turning the corner in the downtown Calgary office market? A growing sense of optimism that the worst of the economic downturn had past set in during the fourth quarter of 2016 as there was a number of large, full-floor lease and sublease activity near the end of the year in the Calgary downtown office market, according to a report by Barclay Street Real Estate.