Calgary downtown office market tight for space

CALGARY — With no new space to be delivered until 2014, the downtown office market will continue to be very tight with low vacancy rates for the foreseeable future, says a fourth quarter 2012 report by Colliers International in Calgary.

“While growth may be somewhat muted, we do expect leasing activity to pick up as pent-up demand flows through the market and several large users secure their 2016 and beyond space in new office developments. Additional sublease space is expected to come to market though likely in smaller blocks of space,” it said.

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Canada Ranked among Top Two most Sought After Investment Destinations both by Local and Foreign Real Estate Investors, but Opportunities Remain Scarce

Toronto, December 13, 2012 – As the global economy is plowing through challenges and uncertainties still lingering from the last recession, Canadian commercial real estate investors are optimistic about market conditions, yet somewhat cautious about taking on more risk, according to Colliers International’s 2012 Global Investor Sentiment Survey. Although the Investor Sentiment Index rises to 104.1 points over the five-year time frame, which indicates a positive stance, less than half (45%) of respondents said they are likely or highly likely to move up the risk curve to reap better yields. This risk tolerance level is lower than the one expressed by investors last year when nearly two-thirds (64%) of Canadian investors were willing to take on more risk.

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