Despite a palpable increase in leasing activity throughout the third quarter, Calgary's Suburban Office Market experienced a significant contraction as the market continues to respond in wake of the global pandemic.
- Beltline continues to be a mirrored and scaled image of the downtown market as it experiences a contraction this quarter.
- The expansion in sublease availability can be largely attributed to large blocks returning to market primarily originating from the engineering segment who have traditionally been the majority occupiers of large format suburban buildings.
- Many organizations are using this market downturn to upgrade or re-envision their space in order to attract potential employees.
