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Calgary Suburban Office Market Report Q1 2022

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research article

Q1 2022 set off with a strong start across all suburban office submarkets. The Beltine and Suburbs experienced a second consecutive quarter of growth in occupied space for the first time since the end of 2019.

  • This quarter marked a shift in the type of transactions occurring in the market, moving away from primarily shorter term stop-gap style deals toward groups looking to make long-term decisions on the future of their office space.
  • Move-in ready suites remain in high demand in desirable areas as labour and material shortages persist, driving up lead times and construction costs further.
  • With major occupiers active in the market, there still could remain some uncertainty for the Suburban office market. For the majority of these large-scale users, their current hunt for office space represents a net reduction in their office footprint in Calgary.

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Calgary Suburban 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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