Calgary Downtown Office Market Report Q3 2019

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research article

Calgary’s downtown office market continues to see AA and A class buildings garner the most activity as the ongoing “flight to quality” trend endures. While some of these tenants are migrating from B and C Class downtown office buildings, we continue to see tenants from the suburban office market consider and ultimately lease higher quality space downtown.

  • Dramatic uptick in headlease vacancy over the last several years.
  • Activity remained surprisingly strong and steady throughout Q3 2019.
  • Tenants looking for contiguous spaces at economical prices may reconsider B and C space.

Office Market Report

Calgary Downtown Office Market Report Q3 2019

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Matt Rachiele

Managing Director | Calgary Brokerage

Calgary

Matt oversees the Southern Alberta Commercial Brokerage operations for Colliers, including Office, Workplace Strategy & Innovation, Industrial, Retail and Investment Sales transactions. He assumed this role in April 2019 upon leaving TD Securities, the capital markets division of the Toronto Dominion Bank Group.  Matt was an investment banker for twelve years in total, during which time he provided financial and strategic advisory services to a broad range of corporate and institutional clients, including two years as a Mergers & Acquisitions specialist in Toronto and the past eight years with TD’s Global Energy Group based here in Calgary.  

Matt has closed on ~$40Bn of lead transactions through the course of his career, including several of the largest IPOs and M&A transactions in Canadian history.  These included mandates spanning domestic and international Oil & Gas, Energy Infrastructure, Power & Utilities, Mining, Financial and Diversified companies.

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