Office activity in Q4 2021 reported the first quarter of overall growth since Q2 2019. Much of the momentum gained towards the end of the year is expected to continue in 2022 despite the postponements of many full-scale return to office plans delayed by the rise in variant COVID-19 cases.
- The municipal government is helping drive the renewed optimism downtown, as they continue to spearhead Calgary’s Greater Downtown Plan.
- Supply chain issues continue to affect all sectors of the economy, and Calgary’s downtown commercial real estate industry is no exception.
- Attractiveness of move-in-ready suites and show suites has grown substantially, particularly for tenants with upcoming expiries that do not have sufficient time to renovate or complete a buildout.