The renters are now free to utilize virtual currencies to pay for a commercial lease in a northwest Calgary office building. The renters will now accept Bitcoin, Ethereum, and Litecoin as rent payments.
“I think what it will do is showcase that Calgary is a burgeoning and growing tech hub and it’s open for business,” said Barclay Street vice president Dan Harmsen.
Vacant Sears Canada space in Calgary pushed the city’s retail vacancy rate at the end of 2017 to more than twice the 10-year average.
Commercial real estate company Barclay Street is working with the owners of Real Equity Centre, an office building at 1716 16th Ave. N.W. in Calgary. Tenants interested in renting one of the office suites in the Real Equity Centre building will have the option of paying their rent in bitcoin (BTC), ether (ETH) or litecoin (LTC), instead of the Canadian dollar.
Industrial real estate market hopes to maintain momentum in 2018
Barclay Street Real Estate says the number of sales were up in 2017 and there were signifcant shifts in investor focus
Transactions in Calgary's commercial real estate sector reached $2.35 billion in 2017, slightly down from the previous year, but the number of investment sales grew by 25 per cent, according to a new report by Barclay Street Real Estate.
Calgary’s commercial real estate market could be poised for a rebound in 2018. All eyes will be on Calgary’s commercial real estate market this year, with hopes that the downtown office sector, which continued to struggle in 2017, will rebound in 2018.
"Retail activity percolated along the 4th Street corridor and 17th Avenue," noted Barclay Street Real Estate analyst Anthony Scott.
The Calgary 2017 Year-End Retail Market Analysis by Barclay Street Real Estate indicated Calgary’s overall retail vacancy rate was down to 3.1 per cent at the end of the year after rising into the mid-three per cent range earlier in the year.