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Calgary Downtown Office Market Report Q3 2021

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research article

The second half of 2021 began to show moderate growth in market activity, particularly towards the end of summer as more organizations planned to return to the office in the fall.

  • The move by the Calgary-based fintech firm, Neo Financial to The Edison is another example of tech growth in the downtown core. With $35 million in provincial funding, the Alberta government is assisting four tech accelerators to help start-ups grow.
  • Optimism in the energy sector is rising, with WTI prices climbing above US$ 70/barrel and natural gas reaching a 6-year high with year-over-year growth approaching 100%.
  • Transactions that have been put on hold as a result of the renewed uncertainty tend to be organizations in the market for smaller pockets of space, while those requiring larger footprints are taking a longer-term outlook on their office space requirements and capitalizing on the current market conditions.



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Calgary Downtown Office Market Report Q3 2021

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Aly Lalani

Executive Vice President | Partner

Calgary

Aly has specialized in Calgary's downtown leasing market with Colliers for the past 19 years. Aly has developed strong relationships with both tenants and landlords and has been involved in lease transactions totalling in excess of 5,000,000 square feet.

Aly has experience dealing with numerous types of leasing situations including lease transactions from both the tenant and landlord perspectives, subleasing and assignment, surrender, renewal and premises expansions and contractions. Aly's experience and solid educational background gives him strength in communication, negotiation and financial analysis which allows his clients to evaluate all scenarios and make informed decisions.

Since becoming a Partner in 2007, he has taken on a leadership role by providing guidance, training and mentorship within the firm and commercial real estate community as a whole. Most recently, Aly has joined the NAIOP Mentorship Program, designed to match developing leaders with experienced and established leaders in the industry.

On numerous occasions, Aly has been given the Award of Excellence by Colliers International as a North American top performer.

Aly's work on behalf of companies such as Symend Inc., Avanti Software Inc., Telus, Statoil Canada Ltd., Black Diamond Group Limited, Altalink LP, Dale Carnegie, Ernst & Young, HSBC, Canon Canada, Blackstone Real Estate, Slate Properties, KingSett Capital, Choice Properties, Bantrel Engineering, Matrix Solutions, UBS Canada and Viterra has earned him respect as one of Calgary's leading real estate leasing professionals.

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Paul Marsden

Executive Vice President | Partner | Industrial Sales & Leasing

Calgary - Southeast Industrial Office

Paul Marsden is an Executive Vice President & Partner of the Colliers Calgary operations.  In his day-to-day efforts he focuses on the Calgary industrial real estate market, specializing in tenant and user representation.  Throughout his career Paul has established a strong reputation for evaluating the current market conditions and in-turn strategizing to best serve his client’s requirements.  In conjunction with his team, they have completed 18.1m sf of transaction and nearly 1,000 acres of land sales over the past 5 years, representing approximately $1.45b in transaction value. 

Beyond brokerage Paul has an active role on the Board of Director for the Colliers Calgary operations, and he takes pride in seeing both the development of the people within Colliers, and the overall growth of the company. 

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