Calgary Downtown Office Market Report Q3 2019

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.

Calgary Downtown Office Market Report Q3 2019

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Matt Rachiele

Senior Vice President, Investment Sales

Calgary

Call now +1 403 298 0402

Call Mobile +1 403 629 3796

Senior Vice President, Investment Sales based in Calgary. Formerly Managing Director, Calgary leading Colliers' Southern Alberta Brokerage business from Q1/19 - Q1/21. 2020 Interim Canadian Chair, Colliers Global Capital Markets Leadership Team. 2020 Co-Chair of the Alberta Real Estate Forum. Previously, Investment Banker for 12 years, including eight with TD Securities in Calgary covering Global Energy and two years in Toronto as a Mergers & Acquisitions specialist covering all industries for National Bank Financial.

BIO:
Matt is a Senior Vice President, Investment Sales and previously lead the Southern Alberta Commercial Brokerage operations for Colliers as Managing Director in Calgary, including 75 professionals focused on Office, Industrial, Retail, Multi-Family and Development Land Sales, Leasing & Development transactions. He was the 2020 Canadian Chair on Colliers' Global Capital Markets leadership team, a group of 11 executives that coordinate that activity across the 68 countries we operate within. Matt was also Co-Chair of the 2020 Alberta Real Estate Forum.

He assumed his role at Colliers in April 2019 upon leaving TD Securities, the capital markets division of the Toronto Dominion Bank Group. He 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. He has unique, real-time insight into what’s happening in the Western Canadian Oil & Gas sector and is often tapped by our Institutional and Private Clients to brief them on how those dynamics dovetail into CRE.

He is a CFA Charterholder, is licensed under RECA to practice in commercial real estate, is ASC (ARGUS Enterprise) Certified, has a BComm, Finance from the Haskayne School of Business at the University of Calgary and was previously qualified under FINRA as an investment banking representative in the U.S.

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