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Calgary Downtown Office Market Report Q1 2021

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research article

As the first quarter of 2021 came to a close, it has been one year since the beginning of the COVID-19 pandemic with the ripple affect of multi-tiered economic fallout continuing to effect Calgary’s Downtown office market. Total negative absorption for the quarter settled at just over 1.3 million square feet, representing the largest single-quarter contraction on record.

  • Transaction velocity in Q1 was relatively slow for the first half of the quarter as many groups continued to work from home following the holiday season.
  • M&A activity within the energy sector continued to shape the Downtown office market as more sublease space has come to market.
  • Despite the continued consolidation in the energy sector, Calgary's economy continues to diversify as the result of other industries moving to the city.

Calgary Downtown Office Market Report Q1 2021

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Pour plus d’informations, veuillez contacter:

Matt Rachiele

Managing Director | Calgary Brokerage

Calgary

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