Flight to quality continues for downtown Calgary office space

Overall positive absorption of space in the core in 2018, says CBRE report

Flight to quality continues for downtown Calgary office spaceCalgary's downtown office market continues to be challenged with a high vacancy rate but commercial real estate experts have identified a flight-to-quality trend taking place due to lower rental rates. A report by commercial real estate firm CBRE says the flight-to-quality trend continued in the fourth quarter of 2018, resulting in another decrease in Class…

Calgary office market improves but challenges remain

While 2018 ended on a positive note, the addition of TELUS Sky in the 1stQ will increase the vacancy rate to as high as 26.3%

Calgary office market improves but challenges remainThere was a ray of hope at the end of 2018 for Calgary’s beleaguered office market. But that may be short-lived. According to a report released Wednesday by real estate firm Avison Young, the Calgary office market registered the first positive annual absorption - the change in occupied space - in four year in the…

Calgary suburban office vacancy rate continues to rise

Leasing activity was muted as the year drew to a close: Barclay Street Real Estate

Calgary suburban office vacancy rate continues to riseOverall vacancy in Calgary’s suburban office market continued to increase in the fourth quarter of 2018, according to analysis by Barclay Street Real Estate. In a report, the company said the vacancy rate rose by 0.1 per cent from the third quarter to finish the year at 19.2 per cent. “Leasing activity was muted as…

Bull market for Canadian commercial real estate continues

Avison Young report said Canada's office sector remained sound in 2018, though softness persisted in Alberta

Bull market for Canadian commercial real estate continues(Troy Media) The 10-year bull market in the Canadian commercial real estate sector continued in 2018, supported by the lowest unemployment rate in at least four decades, says Avison Young's 2019 North America, Europe and Asia Commercial Real Estate Forecast, which was released on Tuesday. “Strong performances in 2017 and 2018 have led to supply…

CF Chinook Centre is Calgary’s top assessed non-residential property

Value set at $1.3 billion, according to latest city statistics; airport second, followed by Bow Tower

CF Chinook Centre is Calgary’s top assessed non-residential propertyCF Chinook Centre is the city’s top non-residential property for assessed value in 2019 at $1.3 billion, according to the City of Calgary. The assessment rose by 4.2 per cent from 2018. The second highest assessment was the YYC Calgary Airport at $840.2 million and that rose by 2.3 per cent from a year ago. The…

Karen Barry isn’t shy about applying herself to new ventures

The president of Barry Commercial Real Estate has plenty of interests, including a new cannabis venture

Karen Barry isn’t shy about applying herself to new venturesKaren Barry is president of Barry Commercial Real Estate. What’s your sense of how the Calgary commercial real estate market is faring these days? Barry: After 28 years in the business of commercial real estate investment sales, I can say that there are a number of significant factors affecting the various markets these days. As an…

Commercial real estate investment on the upswing in Calgary

Total volume invested to the end of September reached $2.1 billion, up $619 million from the same period last year

Commercial real estate investment on the upswing in CalgaryInvestor interest in the Calgary commercial real estate market remained consistent in the third quarter of the year with total investment year to date up 41 per cent compared with a year ago. A report by Barclay Street Real Estate says total dollar volume invested this year to the end of September reached $2.1 billion,…

Calgary tax burden rising for commercial properties

Altus Group report says the gap between residential and commercial taxes continues to grow

Calgary tax burden rising for commercial propertiesA report by Altus Group Ltd. says Calgary has seen the highest increase in the country when it comes to the tax rate ratio between commercial and residential properties. The 2018 Canadian Property Tax Rate Benchmark Report, which provides an in-depth look at property tax rates in 11 major urban centres across Canada, said the…

Calgary suburban office market changing to reflect challenging demand

Landlords continue to get creative to attract tenants because of the prolonged high vacancy in the market

Calgary suburban office market changing to reflect challenging demandVacancy in Calgary's suburban office market decreased 30 basis points in the third quarter to 22.9 per cent due to 85,971 square feet of positive absorption, says a new report by commercial real estate firm CBRE. But the company said fundamentals in the market remain flat. It said positive absorption in the quarter can be…

Calgary’s New Horizon Mall announces opening of new stores

A total to 39 outlets will be open by the end of October, say developers of the mall in Rocky View County

Calgary’s New Horizon Mall announces opening of new storesNew Horizon Mall announced on Thursday that it has 11 stores open in the internationally-themed shopping centre just outside of Calgary’s city limits in the Balzac area of Rocky View County. It also announced that the $200-million mall will open an additional 28 stores in the next four weeks, bringing the total to 39 outlets…