CALGARY – The outlook for Calgary’s commercial real estate market remains bullish despite a temporary slowdown in activity, says a new report by CBRE Limited.
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Tag Archives: CALGARY COMMERCIAL REAL ESTATE
Harvard Developments to Redevelop Eau Claire Market
Plans have finally been announced to redevelop Eau Claire Market.
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Cautious Optimism
With more than 200 transactions over the million-dollar price point in the first six months of 2013, Calgary’s commercial market continues to be the subject of “cautious optimism”.
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Inner Space
A report detailing Calgary’s bustling downtown office market is suggesting a potential over-abundance of space could result in increased vacancy.
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Council Proposes ARP for Stadium Shopping Centre
Citizens of the Calgary community of University Heights packed temporary council and two adjoining rooms on July 23 to listen in on a proposed area redevelopment plan (ARP) for Stadium Shopping Centre on 16th Avenue and Uxbridge Drive NW.
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MORE OFFICE SPACE COMING TO MARKET
Once regarded as the tightest commercial market in the country, things in downtown Calgary are beginning to change for prospective tenants.
According to a report from CBRE Limited, the first quarter of 2013 saw absorption in Calgary drop substantially, with 260,281 sq. ft. of sublet space returning to the office market. As a result, sublet space now accounts for 43.3 per cent of downtown vacant space, up from 8.7 per cent at this time last year.
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A PROSPEROUS 2012
A RealNet Canada Inc. report says Calgary’s 2012 commercial market saw an 80 per cent increase in investment compared to 2011.
Throughout 2012, the city saw 445 transactions over $1 million for a total of $4.84 billion.
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Calgary Office Market Sees Massive Increase
Backed by continued expansion in the energy sector and lack of available space, rents in Calgary’s downtown office market saw a massive surge in 2012.
According to commercial real estate firm Cushman & Wakefield’s Office Space Across the World 2013 report, rents in the city’s central core rose by nearly a third last year, and trailed only Bogata, Rio de Janeiro and Sao Paulo for rental growth in the Americas.
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REPORT SUGGESTS OFFICE ACTIVITY TO ‘SURGE’ IN 2013
Growth is the key word in a report outlining Calgary’s office, industrial, commercial and multi-residential sectors from one of Canada’s leading fully integrated real estate organizations.
In Morguard’s 2013 Canadian Economic Outlook and Market Fundamentals Research Report, Calgary was singled out as one of the best markets in the country, with the organization predicting even more expansion in the coming year.
Read more: http://tinyurl.com/cx9abje