Discounted lease rates available for even Class A office space but - as during the last downturn - they may not last for long in either Edmonton or Calgary. With a glut of space on the market and a gloomy outlook for oil prices, this may be the year to land a towering deal in the markets of both Calgary and Edmonton.
Year of the real estate deals in big-city Alberta.
Name: dharmsen@barclaystreet.com
Calgary office market recovery a waiting game
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.
Name: dharmsen@barclaystreet.com
Calgary office market recovery a waiting game
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.
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Vacant Calgary downtown office space at a record level
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%.
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Calgary retail real estate market resilient in 2015
Calgary’s retail real estate market remained resilient during 2015 despite the drop in discretionary spending, says a new report by Barclay Street Real Estate. The overall vacancy rate rose to 2.7 per cent, up by 0.4 per cent from 2014. “The major impact on vacancy stemmed largely from successive retail chain store closures with Big Box space, which had been essentially zero for years, suddenly coming to market as Target Canada exited after two years of successive losses and Best Buy began a rebranding campaign that included closing down its sister brand Future Shop,” said the report.
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Calgary faces both uncertainty and opportunity in 2016 after oil price plunge
Name: dharmsen@barclaystreet.com
A record of Success with $500M in Real Estate Deals
George Larson didn’t begin his career in real estate until 1986 after working in banking and lending services for 22 years. Since then he has sold over $500 million in properties and continues to enjoy making deals for his clients.
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A record of Success with $500M in Real Estate Deals
George Larson didn’t begin his career in real estate until 1986 after working in banking and lending services for 22 years. Since then he has sold over $500 million in properties and continues to enjoy making deals for his clients.
Name: glarson@barclaystreet.com
Business in Calgary Leaders are tops
The recent Business in Calgary Leaders dinner saluted those in our community who strive to make Calgary the best city on earth in which to live. From home building and land brokering, to restaurants and clothing retail, the list of those honoured this year reads like a who is who in myriad industries.
Name: dwallach@barclaystreet.com
Industrial Real Estate Remains in Demand
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