Stories Tagged - Telus Sky
May 08, 2019 | Gerald Vander Pyl
Artist Douglas Coupland's Northern Lights is just one of the features of Telus Sky – a new skyscraper in Calgary's downtown skyline and a sign that tough times in the city won't last forever.
April 24, 2019 | Mario Toneguzzi
Feb. 14, 2018 | Mario Toneguzzi
When it comes to the Calgary commercial real estate market, downtown office space grabs all the headlines.
Just like in sports, where star players occupy the limelight and grinders are often overlooked, the struggles of the downtown office market continue to dominate discussions of commercial real estate, while the industrial sector has quietly weathered the economic storm over the past three years.
Jan. 30, 2018 | Mario Toneguzzi
All eyes will be on Calgary's commercial real estate market this year, with hopes that the downtown office sector, which continued to struggle in 2017, will rebound in 2018.
The office market has grabbed everyone's attention over the past three years, as vacancy rates have soared to historically high levels following the collapse of oil prices and the subsequent waves of layoffs that ravaged employment ranks in downtown Calgary. Thousands of people were cut loose, and a vast amount of office space suddenly became vacant in the downtown core.
Dec. 23, 2016 | Cody Stuart
Despite setting a third-quarter record with a reported $11.2 billion in sales, Calgary's commercial real estate sector will likely see vacancy rates continue to soar this year and next, predicts real estate firm CBRE Ltd.
CBRE Calgary-based managing director Greg Kwong said the downtown market will feel it the hardest, with vacancy rates that are expected to close in on 30 per cent.
Jan. 12, 2016 | Lindsay Holden
Nearly one out of five floors in the office towers that make up Calgary's famous skyline now sit empty, according to CBRE, which anticipates vacancy rates to increase further in 2016.
"Oil and gas companies on every level – from junior start-up to intermediate to major companies – everyone has gone through some form of layoff and therefore and have excess space," said Greg Kwong, managing director at the commercial real estate services firm.
Calgary's downtown office market ended 2015 with vacancy rates topping 17.4 per cent – nearly double from 9.8 per cent in 2014, according to CBRE's 2016 Commercial Real Estate Market Outlook.
Oct. 16, 2014 | Cody Stuart
The Calgary Tower's new, much-discussed exterior lighting system may serve as more than an eye-catching attraction. It might also shine new light on the city's burgeoning commercial sector, which, according to new statistics, is leading the country in a number of key categories for 2014.
Commercial leasing activity in the city is among the most active in Canada, with companies having snatched up 1.2 million square feet of space through the first nine months of 2014, according to commercial real estate firm CBRE Limited.
Oct. 08, 2014 | Cody Stuart
Calgary's commercial sector riding high with innovative designs, added amenities
It's tough to keep tabs on Calgary's skyline these days.
With new buildings breaking ground every week in an area already adorned with construction cranes, it's no surprise the city's commercial sector ranks as one of Canada's most active.
With 791,344 square feet of office space leased through the first nine months of 2014, and another 3.8 million of square feet under construction, it's not simply the amount of leasing activity taking place in downtown Calgary, but the stature of those building yet to be constructed.
July 10, 2013 | CREBNow
"The Telus team is tremendously proud of our longstanding history in Alberta and thrilled to announce the development of Telus Sky, which will stand as a lasting symbol of our passionate commitment to the Calgary community, our customers, our team members and to the province of Alberta," said Darren Entwistle, Telus president and CEO.