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Calgary Downtown Office Market Report Q1 2019

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  • Calgary’s downtown office market realized positive absorption in the first quarter of 2019, resulting in the vacancy rate decreasing to 25.23 percent.
  • Given the current economic climate downtown, landlords continue to compete over a small pool of prospective tenants by offering aggressive base rents and lucrative inducements.
  • Sublease availability for spaces under 5,000 square feet remains scarce.

Calgary Office

Calgary Downtown Office Market Report Q1 2019

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For More Information, Please Contact:

Craig Hulsman

Vice President | Partner


Craig Hulsman, a Vice President and Partner with Colliers International, concentrates on Calgary’s downtown office leasing market with a specialized focus in tenant representation. Craig and his partners, Jim Rea and Todd Sutcliffe are the highest producing real estate team in downtown Calgary and deliver integrated real estate solutions to their clients that align with the go forward business strategy and needs of the organization. By taking the time to understand their client’s needs, together with their industry leading market knowledge, Craig and his team are able to advocate strongly and effectively for their clients.

In 2020, Craig was selected to be part of Colliers Tenant Advisors Council “TAC”. TAC is a handpicked group comprised of 80 top Colliers professionals from various markets across North America, all who exclusively represent occupiers. The group has a common goal of sharing industry leading insights to drive exceptional experiences, solutions, and results for local and multi-market requirements.  Some of TAC’s clients include LinkedIn, Spotify, Allstate, Garmin and Wells Fargo.

Craig and his team have had the highest Net Promoter Score (NPS) in the country for the last 5 consecutive years. NPS is a third-party management tool used by Colliers Canada and other recognizable organizations such as Amazon, Apple, Costco and Netflix to measure customer satisfaction by asking one question: “How likely is it that you would recommend Colliers services to a friend or colleague? The scoring is based on a 0 to 10 scale.

In 2018 and 2019, Craig was the winner of Colliers Top 6 Under 6 award, a nation-wide award that recognizes the top commercial brokers across Canada. During that tenure, Craig has been in the top 50 of 2,300 producing brokers for all of Canada.

Craig was made Partner in the Calgary office in 2020.

Craig is a major donor with the United Way Calgary & Area and holds a Bachelor of Management majoring in Finance and Marketing from the University of Lethbridge. 

Notable Clients

Tidewater Midstream & Infrastructure, Seven Generations Energy, Westleaf Inc. Kiwetinohk Resources Ltd., ClearStream Energy Services Ltd., Kingston Midstream, International Petroleum Corporation, Lynx Resources Inc, ISH Energy Ltd., Obsidian Engineering Corp., Miller Thomson LLP, DistributionNOW Canada, Kicking Horse Oil & Gas Ltd. and non profit organizations such as, Calgary Legal Guidance, Calgary Family Services Society, University of Saskatchewan and Pure North S’Energy Foundation.

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Dan Lannon

Executive Vice President | Partner


Dan Lannon is a Vice President and Partner at Colliers Calgary, a top producer in Canada and an Everest Club Member consistently performing within the top 10% of all Colliers Professionals Worldwide. Dan brings expertise to his clients in all areas of commercial office leasing: lease, sublease, and renewal negotiations; new building development; lease consolidation; and strategic thinking. With 20 years of proven success, Dan has a wealth of experience in commercial leasing and continually exceeds his clients’ real estate needs. Dan’s success can be attributed to his determination and ability to adapt to today’s ever-changing economic environment.

Clients Include:
Husky Energy Inc. – 1,000,000 square feet
Pembina Pipeline Corporation – 500,000 square feet
TAQA – 175,000 square feet
Burnet, Duckworth & Palmer LLP – 120,000 square feet
Bonavista Energy Corporation – 125,000 square feet
Whitecap Resources Inc. – 100,000 square feet
Ensign Energy Services Inc. – 50,000 square feet
Ember Resources – 50,000 square feet
Trinidad Drilling Ltd. – 45,000 square feet
Miller Thomson LLP – 45,000 square feet
Integrated Sustainability Consultants – 30,000 square feet
Packers Plus Energy Services, Inc. – 25,000 square feet
ORLEN Upstream Canada – 20,000 square feet
TransGlobe Energy Corporation – 20,000 square feet

Dan is a respected member of the commercial real estate community and is widely recognized by his peers, the brokerage community, and landlords for his ability to offer creative solutions to manoeuvre and overcome road blocks. Dan acts as mentor for new members of the Colliers team and stresses the importance of fostering an environment where others are continuously learning and growing in their respective careers.

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