Retail Insider • March 3, 2026
Retail investment in Calgary recorded a slower year relative to other asset classes, with total sales reaching $531.5 million by year end in 2025, representing a 31% decline from the prior year, according to a report by Barclay Street Real Estate.
“Transaction volume remained consistent with historical levels, with 54 deals completed and activity evenly split between the first and second halves of the year. The decline in total dollar volume reflects smaller deals across the submarket rather than reduced investor participation. Activity shifted away from the lowest price points, with roughly half of transactions occurring below $5 million and the remainder ranging between $5 million and $54.5 million,” said the report.
“Investors showed greater selectivity, focusing on mid- to higher-quality assets where scale and income stability supported deal execution. Average pricing held steady year over year at approximately $419 per square foot. The largest transaction was the $54.5 million sale of the 201,000-square-foot shopping centre at 388 Country Hills Boulevard NE.”
Calgary’s investment market delivered a year of transition in 2025, characterized by shifting momentum across asset classes and a more selective capital environment, said the Barclay report.
“While overall activity moderated from recent years, investor engagement remained broad-based, supported by strong fundamentals in industrial and multiresidential assets and improving confidence in the office sector,” it said.
“Total investment volume reached approximately $3.26 billion, reflecting a modest pullback from 2024, while transaction activity remained active across all major property types. Industrial and office sectors emerged as key contributors to dollar volume growth, offsetting slower performance in land and retail.”
Overall, the market demonstrated resilience, with sustained deal flow underscoring Calgary’s continued appeal as a diversified and liquid investment destination. Total investment activity in 2025 reached approximately $3.26 billion across 615 transactions, compared to $3.36 billion and 680 deals recorded last year. While both dollar volume and transaction count declined modestly year over year, activity remained historically active, reflecting ongoing investor interest amid a more cautious capital environment, said Barclay Street.
“In a year of recalibration, investors continued to place their confidence in Calgary, supported by the strength of our current fundamentals and a steady flow of capital, speaking to the enduring strength of our market,” said David Wallach, Owner/Broker Barclay Street Real Estate.
