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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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Roelof van Dijk

Senior Director, National Research & Analytics | Canada

Toronto Downtown

As Senior Director, Research & Analytics | Canada, Roelof leads the strategy and operation of Colliers Canada Research, delivering market intelligence initiatives that give Colliers and its clients a competitive advantage. He focuses on developing a high-performance national research team that leverages Colliers’ best-in-class market intelligence to produce relevant insights on local and national market and industry trends that inform client decisions, address market needs and support Colliers’ growth strategies.

Roelof has 15 years of experience covering the Canadian commercial real estate market. Prior to his career in commercial real estate, he also worked as a project manager and urban planning consultant for residential developers across the Greater Toronto Area.

Roelof is regularly cited in national publications, such as The Globe & Mail, CBC News, Bloomberg, Reuters, Maclean’s Magazine and the National Post, as well as in local outlets across Canada.

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