Calgary’s Downtown office market has continued to experience increased leasing activity, resulting in Q1 2022 being the second consecutive quarter of positive absorption.
- Several buildings were removed from office inventory in Q1 as some residential conversions move forward as a part of the downtown revitalization plan.
- Downtown sublease availability remains a tale of two markets, with those unable to fill an entire floor having significantly fewer options than what is available for a group seeking 10,000 square feet and greater.
- A 10 year high in oil pricing is sparking optimism in the energy sector and by extension Calgary’s downtown office market.
