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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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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INNER CITY LIVING

From its borders to its centre, Calgary’s inner city is home to some of the city’s most storied historical sites and bustling neighbourhoods; and is continually sought out by an eclectic group of homeowners and renters alike.

Bankview resident Vanessa Vegter loves the fact her community is both affordable and conveniently located near 17th Avenue and several city bus routes.

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