In the span of two months this winter, Calgary’s 17th Avenue S.W. lost 29 businesses.
The vacancy rate in Calgary’s industrial real estate market stayed relatively flat at the end of 2018, climbing by just four basis points to 5.48 per cent, says Barclay Street Real Estate.
Calgary’s commercial real estate market saw substantial investor activity in 2018, with sales greater than or equal to $1 million rising from the year before, according to Barclay Street Real Estate.
Overall 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 the year drew to a close and with vacancy remaining steady, rental rates also showed stability ability among higher quality properties. Landlords of B and C Class properties have become increasingly motivated to complete leases with less resistance to maintain their tenant bases. Speaking to the latter, the rent expectation gap between owners and tenants has narrowed significantly but with the very low rents we’ve seen during the past 24 months, little room remains for negotiation downward,” said the report.
After spiking to an all-time retail vacancy rate of 5.1 per cent in the first quarter of 2018, overall vacancy in Calgary settled into the mid-four per cent range through the end of the year, according to a report by Barclay Street Real Estate.
A report by commercial real estate firm Barclay Street Real Estate says the office-condo concept has created an opportunity for occupiers to own their office space with the advantages of having fixed and clear costs, full control over the design within the premises, and tax benefits not available to leasing tenants.
Total volume invested to the end of September reached $2.1 billion, up $619 million from the same period last year
According to a mid-year report by Barclay Street Real Estate, total dollar volume in investment sales in Calgary reached $1.257 billion in the first half of this year compared with $1.025 billion for the same period in 2017.
Calgary is on a fragile mend, Winnipeg stays stable but Saskatoon sees per-door apartment building prices slip as vacancies hit double digits and rental rates tumble
The renewed appeal of commercial real estate investment which took hold in Calgary in mid-2016 has continued through the first six months of 2018, according to a new report by Barclay Street Real Estate.
The company, in its mid-year analysis, reports a 23 per cent year-over-year increase in dollar volume at the end of June, with total sales of assets worth more than $1 million jumping to $1.26 billion.