Commercial landlords thinking outside of the box in wake of high vacancy rates
Suburban Creativity
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Developer bullish on residential housing market in city's core
A developer with a 50 per cent stake in a proposed residential tower project that would occupy a full city block downtown says he remains bullish about the Beltline’s real-estate market, despite Alberta’s recession.
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Calgary office vacancy rates nearing 25 per cent, topping highs set in 1980s recession
An office report from Barclay Street Real Estate pegs the city’s current downtown vacancy rate at 22.1 per cent, but notes that skyscrapers still under construction could push the rate to 25.6 per cent next year and 26.4 per cent in 2018.
Name: khong@barclaystreet.com
Asking vs. achieved
Suburban office vacancies encouraging landlords to be flexible.
"We're in the doldrums right now," said Ian Robertson, associate specializing in the suburban office market for Barclay Street Real Estate. "There's too much space chasing too few tenants. So it's a bit of a malaise".
Name: irobertson@barclaystreet.com
Construction work slows in Calgary as recession delays office tower projects
Barlcay Street Real Estate recently forecast that new developments could push downtown office vacancy rates up to 24 per cent in 2018, and office vacancy rates in the adjacent Beltline neighbourhood could climb to 19.6 per cent over the same period. The vacancy issue has driven down prices for tenants — “There’s never been a better time to look at space than right now,” Barclay Street associate Bill Falagaris said — but has forced developers to reconsider projects that are planned, and completion dates for office buildings that are already under construction.
Name: bfalagaris@barclaystreet.com
New normal
Calgary's industrial sector showing signs of strain. Report by Barclay Street Real Estate noted market dynamics in Calgary industrial scene are currently in favour of the tenant or purchaser, with sublease options being marketed at aggressive rates.
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Click-and-collect boosts Calgary retail
“Click and collect” retailers are boosting demand in Calgary’s surprising tight retail sector, which will see nearly 500,000 square feet of new space added this year.
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Rise of the office condo
Calgary's emerging office condo market remains hot this year, according to Barclay Street Real Estate.
Name: dharmsen@barclaystreet.com
Landlords scramble to fill near-empty skyscrapers dotting Calgary skyline
Near-empty skyscrapers and rising vacancy rates are pressuring landlords to offer big incentives – such as a year of free rent or money for renovations – to keep a shrinking number of tenants in their downtown Calgary towers.
Name: dharmsen@barclaystreet.com
Business as usual
New retail development in the Calgary region continues at a steady pace despite the depressed economy and sliding consumer spending, according to local officials.
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