Market activity in Calgary's Downtown Core continued to rise in Q3, with encouraging momentum heading into Q4. Overall, downtown Calgary experienced 180,943 SF of negative absorption across all asset classes - an inevitable repercussion of the current uncertainty.
- M&A activity continues to be a significant driver of sublease space in the Downtown Core.
- Migration has shifted transaction momentum back towards Calgary's central business district.
- Growing Tech sector sees companies continuing to look downtown to upgrade to top tier office space made available as energy companies contract their space in the process of streamlining.