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Calgary Downtown Office Market Report Q1 2022

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research article

Calgary’s Downtown office market has continued to experience increased leasing activity, resulting in Q1 2022 being the second consecutive quarter of positive absorption.

  • Several buildings were removed from office inventory in Q1 as some residential conversions move forward as a part of the downtown revitalization plan.
  • Downtown sublease availability remains a tale of two markets, with those unable to fill an entire floor having significantly fewer options than what is available for a group seeking 10,000 square feet and greater.
  • A 10 year high in oil pricing is sparking optimism in the energy sector and by extension Calgary’s downtown office market.

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Calgary Downtown Office Market Report Q1 2022

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Ian Huston

Managing Director, Calgary | Brokerage

Calgary

Ian is Managing Director in the Calgary office. Ian focuses on attracting  and retaining top performers in commercial real estate, as well as supporting Colliers' growth strategies and maintaining the company's top industry standing.

Ian is a seasoned leader with over 15 years of progressive experience in investment banking, corporate and capital markets, financing, and strategic advisory at a leading Canadian financial institution. He has led over $40 billion of successful M&A transactions, and numerous equity and debt financings.

Throughout his career, Ian has been a trusted advisor to executive management and board of directors of over 20 companies in the North American energy sector, including: upstream (conventional, oil sands, royalties), midstream, downstream, and energy services.

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Leo Lee

Director, National Research Operations | Canada

Toronto West

Leo Lee is the Director of National Research Operations | Canada and oversees the strategic direction and operations of Colliers Canada Research. He focuses on developing the capabilities of the national research team that leverages Colliers' best-in-class market intelligence and platforms to provide clients with valuable market insights.

Leo joined Colliers International in 2008 and was most recently the Regional Director of Research for Eastern Canada.

He has over 10 years of experience in the real estate market across Canada and New Zealand and draws on his professional experience as a commercial appraiser and real estate consultant.

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