The depressed state of the Calgary office market evokes memories of the city’s situation seven years ago. What’s still unknown is if it will recover as quickly this time around. “What is very similar in comparing January 2009 to January 2016 is the amount of inventory in the office market that was under construction,” said Dan Harmsen, vice-president and associate broker for Barclay Street Real Estate, which recently released reports on Calgary’s downtown, Beltline and suburban office markets for the final quarter of 2015.
The fourth quarter of 2015 saw a continuation of uncertain commercial real estate market sentiment and closed the year with a record amount of vacant office space in Calgary's downtown core. A report by Barclay Street Real Estate Ltd. says that over 2015 about 3.9 million square feet of office space in the downtown was returned to the market as the vacancy rate soared by 9.82% year-0ver-year from the fourth quarter of 2014 - finishing 2015 at 17.29%.
Backed by decades of real estate experience and leading market research, our Investment Sales team will work with you through the acquisition or sales process ensuring you receive expert representation and have a smooth transaction. With dedicated brokers and negotiators, our team works diligently to match the best properties with the right investors.
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We have dedicated Leasing teams that specialize in areas of industrial, office and retail to best suit your unique business needs. Our Leasing teams offer tenant and landlord representation and work closely with you to ensure you receive the best outcome that will help you meet your business goals. We offer specialized services in the following areas:
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As an owner and investor, it is vital to manage your real estate assets effectively and efficiently so you can optimize your bottom line. Our Property Management team can work with you to best allocate funds for property operations, increase tenant retention and track property valuation so you can maximize your return on your real estate investments.
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