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Edmonton Office Market Report Q3 2020

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research article

As COVID-19 restrictions began to loosen throughout the third quarter, we saw businesses begin to reopen and employees slowly start to return to the office to work. Although some tenant demand resumed over the third quarter, the office market can be largely characterized as “frozen,” with many businesses operating as if they are in a “holding period.” While we did report a substantial increase in total sublease space and consequently, significant negative absorption (-256k square feet), this was largely attributed to a single tenant, WorleyParsons.

Although we don’t expect the market to bounce back to “normal” overnight, we remain optimistic about the future in the long term despite a currently stagnant market, as groups will still require office space to foster culture and drive collaboration.


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Edmonton Office Market Report Q3 2020

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Phil Goh

Senior Vice President, Office | Brokerage

Edmonton

Phil Goh has been involved in the office leasing and sales side of commercial real estate since 2005 and has accumulated wealth of experience and success in negotiating, creative problem solving as well strategic planning on behalf of his clients. Phil is an expert who specializes in the Edmonton office market and has consistently been a top producer for the Colliers Team. Phil's attention to providing only the highest quality service for his clients in order to help ensure the success of their business is what sets him apart from the rest. His extensive experience and market knowledge allow him to offer value with leasing, lease renewals, office sales transactions as well strategic planning or real estate consulting.

 

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Fahad Shaikh

Senior Vice President, Office and Healthcare | Brokerage

Edmonton

Fahad Shaikh specializes in office leasing and sales in the Edmonton market.  Known for his client commitment and superior knowledge of the market place, Fahad has quickly become the trusted advisor to many local and national groups.  His commitment of providing his clients with the highest quality of representation is the core philosophy of his practice and has earned him the respect and loyalty from his peers and clients. 

Fahad has experience dealing with a wide array of services which include: lease negotiations, renewal negotiations, purchase/sale negotiations, subleasing, consolidation/relocation/expansion analysis, and property evaluations.   

Fahad has also emerged as an expert in the healthcare field, representing many large national healthcare tenants and local medical practitioners. His knowledge of the ever evolving developments in the healthcare industry and understanding of the unique complex issues faced by healthcare/medical tenants are why he has been able to successfully consult many tenants and owners in this industry.

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Taylor Riar

Senior Associate, Office | Brokerage

Edmonton

Taylor specializes in office leasing and sales in Edmonton,  where he currently works with the Colliers Edmonton Office Team to facilitate both lease and sale transactions, with a focus on supporting Edmonton's growing technology and innovation sectors.

Taylor's expertise encompasses both owner and occupier representation through a wide range of services including: new lease negotiations, lease renewal negotiations, purchase/sale transactions, subleasing, and strategic planning from a real estate perspective.   Taylor understands that a real estate solution is a piece of a bigger puzzle his clients are trying to solve, and takes time to fully understand his clients' short and long-term objectives.  His in-depth understanding of the Edmonton office market, and ability to provide a deep financial understanding of different scenarios has proven to be an asset to his clients.

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Ian Bradley

Executive Vice President, Office | Brokerage

Edmonton

Ian Bradley has over thirty five years of experience in the office leasing business, leasing in excess of 8.5 million square feet. During his tenure at Colliers International Ian has dealt with a wide variety of companies as well as a range of tenant sizes. Ian’s knowledge of the marketplace, his professionalism, and his skill at financial analysis make Ian an invaluable asset to his clients.

Among Ian’s accolades is the BOMA broker of the year award for the year 2000. This is testimony to the respect he enjoys with Edmonton landlords. Ian has been a top producer for Colliers International for the past ten years.

Ian was the #2 Broker for Colliers worldwide in 2008, the #1 Broker for Colliers worldwide in 2009 and in 2011 he was the #3 broker for Colliers Canada-wide. Ian is recognized as the senior office leasing specialist in the City of Edmonton by virtue of his extensive experience, numerous accomplishments, and ongoing relationships in the industry.

Notable Clients

  • ATCO Group
  • Bantrel Co.
  • Field Law
  • Parlee McLaws LLP
  • Bishop McKenzie LLP
  • Kingston Ross Pasnack LLP
  • Regus
  • New Alta
  • Intact Insurance
  • MD Management
  • Duncan & Craig LLP
  • Grant Thornton LLP
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