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Real Estate
Relocate And Expand |
Real Estate
Calgary's strong economy has fueled real estate growth for the region. Whether it is a new business making the move to Calgary or a local business expanding, the Calgary region has seen a large amount of development in this sector.
Market Overviews
Office Real Estate Market
Calgary has 37.8 million square feet (sf) of downtown office space and there is also 23.3 million square of beltline and suburban office space. Calgary's market offers all classes of office space. The average age of Calgary's office buildings is the youngest of any major Canadian city and therefore offers benefits such as efficient building systems, high environmental standards and state of the art design with high efficiency leasing.
Top quality architecture and urban planning combine to create an energizing and dynamic downtown core. Among many exciting projects, Calgary is proud to have the spectacular Norman Foster EnCana headquarters under construction, known as 'The Bow'.
There is a network of 'Plus 15' skywalks with over 16 kilometers of passageways and 57 bridges between the office towers in place. The system is the largest of its kind in the world. Plus 15s connect most buildings in the downtown core creating an efficient year-round access from building to building.
The City and Calgary Economic Development have established cutting edge tools to facilitate projects and their approvals through the City. Calgary also enjoys a unique advantage with the Uni-City concept. Unlike most jurisdictions with competing regions and towns in the metropolitan area, the City of Calgary (covering an area of approximately 14 miles by 20 miles) is under a single governing authority with common land use and building permitting regulations and procedures. This is a major advantage as businesses can easily compare location options throughout the city.
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Calgary Office Real Estate Market -- Q2 2010 |
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Total Inventory (SF) |
New Supply for Quarter (SF) |
YTD New Supply (SF) |
Absorption for Quarter (SF) |
YTD Absorption (SF) |
Vacancy Rate (%) |
Under Construction (SF) |
| Downtown Office Class AA |
11,489,261 |
1,042,027 |
2,260,688 |
412,160 |
1,216,237 |
16.54% |
2,982,027 |
| Downtown Office Class A |
13,293,328 |
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-279,306 |
-229,090 |
12.61% |
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| Dowtown Office Class B |
8,702,605 |
250,000* |
250,000 |
43,852 |
-388,447 |
18.47% |
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| Downtown Office Class C |
4,289,698 |
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|
567 |
44,074 |
13.14% |
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| Total Downtown Office |
37,774,892 |
1,292,027 |
2,510,688 |
177,273 |
642,774 |
15.22% |
2,982,027 |
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| Beltline Office |
5,776,415 |
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185,071 |
130,718 |
13.81% |
225,000 |
| Suburban Office |
17,525,701 |
186,468 |
186,468 |
138,867 |
210,604 |
11.40% |
55,000 |
| Total Beltline and Suburban |
23,302,116 |
186,468 |
186,468 |
323,938 |
341,322 |
12.00% |
280,000 |
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| Total Office Market |
61,077,008 |
1,478,495 |
2,697,156 |
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3,262,027 |
*Previously closed property
Source: CMN Colliers Calgary
Industrial Real Estate Market
Calgaryoffers 118.3 million square feet of industrial space, generally located in the South East and North East quadrants of the city. This inventory is composed mainly of transportation, logistics and manufacturing facilities. 35 per cent of our inventory has been built in the past 10 years. Therefore there are significant energy efficiencies and building design and site amenities to accommodate current warehousing standards and transportation equipment needs.
| Calgary Industrial Real Estate Market |
| Total Inventory (SF) |
New Supply for Quarter (SF) |
YTD New Supply (SF) |
Absorption for Quarter (SF) |
YTD Absorption (SF) |
Vacancy Rate (%) |
Under Construction (SF) |
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118,293,446 |
27,087 |
88,487 |
677,141 |
1,654,821 |
5.36% |
577,674 |
Source: CMN Colliers Calgary
Calgary Residential House Sales
The Calgary Real Estate Board (CREB) is ranked as one of the largest real estate boards in Canada. One of the main functions of CREB is the operation of the Multiple Listing Service (MLS). Through MLS, members and their clients have immediate access to the latest information on properties listed for sale.
BizPal
There is an online tool that will help simplify the processes for permit applications, business licences and other compliance regulations. Check it out at BizPaL
To learn more or search for office and industrial facilities available in Calgary contact:
Richard Pootmans
Business Development Manager, Real Estate
Calgary Economic Development
403.221.7899
Email
Or:
Altus Group
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