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Calgary Downtown Office Market Report Q1 2019

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research article
  • Calgary’s downtown office market realized positive absorption in the first quarter of 2019, resulting in the vacancy rate decreasing to 25.23 percent.
  • Given the current economic climate downtown, landlords continue to compete over a small pool of prospective tenants by offering aggressive base rents and lucrative inducements.
  • Sublease availability for spaces under 5,000 square feet remains scarce.

Calgary Downtown Office Market Report Q1 2019

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Pour plus d’informations, veuillez contacter:

Craig Hulsman

Associate Vice President


Craig specializes in Calgary’s downtown leasing market with Colliers International. Having previously worked in the energy industry, Craig utilizes his experience and business acumen to create a well-built real estate strategy for his clients. This experience had aided Craig in developing a deep knowledge of the oil and gas industry and how it relates to commercial office space.

Craig primarily works on behalf of Tenant's in downtown Calgary. He has worked with clients seeking downtown office space ranging in size and assisted in both renewal and relocation exercises. This has also included negotiation of expansion space, rights, terminations, and assignment and subletting provisions. His market knowledge provides forward-looking analysis to help tenants take advantage of trends in the marketplace. Through his ability to analyze leases, coupled with his strong understanding of market trends, Craig is able to work with his clients to produce top-tier real estate solutions.

Craig has successfully completed assignments with:
Blackbird Energy Inc.
Blackspur Oil Corp.
Calfrac Well Services Ltd.
Canadian Association of Petroleum Landmen (CAPL)
Endurance Energy Ltd.
High Arctic Energy Services
Husky Oil Operations Limited
Marathon Oil Canada Corporation
Miller Thomson LLP
Pembina Pipeline Corporation
Perron & Parnters Wealth Management
PetroChina International (Canada) Trading Ltd.
Red Dog Systems Inc.
Saipem Canada Inc.
Societe Generale Corporate & Investment Banking

Specialties: Tenant Representation, Lease Negotiation, Office Relocation / Expansion, Office Sublease / Disposition, Corporate Strategy Development, Market Intelligence, Financial Analysis, Employee Satisfaction and Location Surveys

Craig holds a Bachelor of Management majoring in Finance and Marketing from the University of Lethbridge. 

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Dan Lannon

Senior Vice President | Partner


Dan Lannon is a Vice President and Partner at Colliers Calgary, a top producer in Canada and an Everest Club Member consistently performing within the top 10% of all Colliers Professionals Worldwide. Dan brings expertise to his clients in all areas of commercial office leasing: lease, sublease, and renewal negotiations; new building development; lease consolidation; and strategic thinking. With 20 years of proven success, Dan has a wealth of experience in commercial leasing and continually exceeds his clients’ real estate needs. Dan’s success can be attributed to his determination and ability to adapt to today’s ever-changing economic environment.

Clients Include:
Husky Energy Inc. – 1,000,000 square feet
Pembina Pipeline Corporation – 500,000 square feet
TAQA – 175,000 square feet
Burnet, Duckworth & Palmer LLP – 120,000 square feet
Bonavista Energy Corporation – 125,000 square feet
Whitecap Resources Inc. – 100,000 square feet
Ensign Energy Services Inc. – 50,000 square feet
Ember Resources – 50,000 square feet
Trinidad Drilling Ltd. – 45,000 square feet
Miller Thomson LLP – 45,000 square feet
Integrated Sustainability Consultants – 30,000 square feet
Packers Plus Energy Services, Inc. – 25,000 square feet
ORLEN Upstream Canada – 20,000 square feet
TransGlobe Energy Corporation – 20,000 square feet

Dan is a respected member of the commercial real estate community and is widely recognized by his peers, the brokerage community, and landlords for his ability to offer creative solutions to manoeuvre and overcome road blocks. Dan acts as mentor for new members of the Colliers team and stresses the importance of fostering an environment where others are continuously learning and growing in their respective careers.

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