REALTORS® serving Calgary and area

 

CREB Now Logo

Calgary's trusted source of real estate news, advice and statistics since 1983.

 


Stories Tagged - Tenants

Jon Mook, executive vice-president of industrial division for Barclay Street Real Estate, said absorption in Calgary's industrial sector ended the year in a positive position, and vacancy has turned the corner. Photo by Wil Andruschak/For CREB®Now

Jan. 19, 2017 | CREBNow

Poised for growth

Calgary's industrial market shows signs of turning the corner

While Calgary's downtown office sector and its plunging vacancy rates overshadowed all commercial real estate activity in 2016, the city's industrial market has better weathered the storm and is poised to grow in 2017, say experts.

According to Barclay Street Real Estate, vacancy for the industrial real estate sector finished 2016 at 7.76 per cent. It had peaked at 7.8 per cent in the third quarter of the year. In 2015, it was 6.57 per cent.

"Absorption was a negative 127,373 square feet for Q3. This was the only quarter of negative absorption we have had since the '90s," said Jon Mook, executive vice-president of Barclay Street Real Estate's industrial division.

Richard Cho, pricipal market analysis for Calgary with CMHC, expects rental vacancy rates to hover around seven per cent in 2017. Photo by Wil Andruschak/for CREB®Now

Jan. 10, 2017 | Barb Livingstone

Rinse and repeat

Housing experts predict Calgary's rental market to see another year of high vacancies, low rents

Calgary's rental housing market this year will not change much from 2016 as historically high vacancy rates will continue to usher in incentives and lower rents, say experts.

"We expect the vacancy rate to remain close to 2016 levels" said Richard Cho, Calgary-based principal market analyst for Canada Mortgage and Housing Corp. (CMHC).

Nov. 28, 2016 | CREBNow

Winter is coming

Knowing your local snow clearing bylaws may not be cool, but it's necessary

Winter is coming, and with it the one chore that many homeowners dread: shoveling their snowy sidewalks and driveways.

And while snow removal is often the last thing homeowners want to do on a chilly winter day, officials say it is important in protecting the public's safety.

"Sidewalks need to be kept clean for public safety, [and] a snow removal bylaw shares that responsibility without adding to municipal costs," said Charlene Ruttle, Cochrane's manager of municipal enforcement.

Calgary’s suburban office market continues to see negative absorption rates due to high vacancies and new product entering the market.

Oct. 27, 2016 | Jamie Zachary

Suburban creativity

Commercial landlords thinking outside of the box in wake of high vacancy rates

Landlords in Calgary's suburban office market continue to display increasing creativity in the face of rising vacancy rates that are not expected to stem any time soon, says a new report.

In a third quarter report issued earlier this month, Barclay Street Real Estate noted the overall vacancy rate in suburban Calgary rose by
1.1 per cent from the second quarter to 22.3 per cent. Research director Anthony Scott attributed the slight increase to the introduction of new inventory that came to market with significant unleased space.

The Calgary industrial market continues to see a negative impact from the downturn in oil prices as a large amount of space has become available for sublease over the past year. Photo: Getty Images.

Aug. 22, 2016 | Mario Toneguzzi

New normal

Calgary's industrial sector showing signs of strain

Calgary's industrial market continues to hiccup along in a weakened economy as vacancy rates have risen over each of the last four quarters and are likely heading toward the bottom of the cycle, said a second-quarter market report by Cushman & Wakefield.

"One positive is that the amount of space under construction has been cut substantially; helping to prevent future jumps in the vacancy rate," read the report.

CREB®Now Archive

Aug. 12, 2016 | Mario Toneguzzi

Downtown office vacancy rates expected to climb

Lower-class spaces feeling brunt of energy downturn

Vacancy rates in Calgary's downtown office market have hit historic highs in 2016, and commercial real estate experts are forecasting further declines moving forward.

According to a second-quarter market report by Colliers International in Calgary, the overall vacancy rate in the core has jumped to more than 22 per cent from 20.5 per cent the previous quarter – the equivalent of 618,716 square feet of office space.

Vacancy rates between classes varied, but were steepest in the B-class at 31.8 per cent and C-class at 28.1 per cent. AA- and A-class vacancies were also up from the previous quarter at 17.6 and 18.9 per cent, respectively.

June 24, 2016 | Cody Stuart

Rental costs in Calgary subsiding

Index drops by 1.2 per cent in May

After a period that saw Calgary's vacancy rates at virtually zero and rents among the highest in Canada, renters in the province's two largest cities are now seeing the outcome of Alberta's economic downturn in the form of lower prices, according to a new report.

The latest data from the Consumer Price Index shows renters in Alberta's two major cities might be getting a break. The May 2016 index in Calgary has dropped by about 1.2 per cent from the peak it hit in September of last year. Rents in Edmonton have dropped by 0.3 per cent.

Sophie Purnell, a third-year law student at the University of Calgary, will be working with Molly Naber-Sykes, executive director of the school's new Public Interest Law Clinic, to shine a spotlight on areas where the law isn’t working as well as it should for disadvantaged groups of people. Photo by Wil Andruschak/for CREB®Now

Feb. 17, 2016 | Shelley Boettcher

Putting housing under the 'scope

New Public Interest Law Clinic to challenge landlord-tenant law in Alberta

As a child, Sophie Purnell lived in Burundi before her family fled due to the country's increasing violence.

Now, as a third-year law student at the University of Calgary, she is hoping to make life better for others by working with a group of students to change landlord-tenant law in Alberta, one issue at a time.

The students — all second- and third-year law students — are taking a new course offered through the school's new Public Interest Law Clinic. Supervised by university professors, as well as local public interest lawyers, the students will take on cases from the clinic that fall under the public interest banner as part of their course load.

This term, students will be learning about residential tenancy law, human rights and potential constitutional challenges in the way tenants are treated.

Jan. 28, 2016 | CREBNow

The low-down on condos in Alberta

CREB®Now sits down with Amelia Martin, Centre for Public Legal Education Alberta

Apartment-style condos often represent an entry point for homeownership to many Calgarians. As such, many of these first-time buyers will have questions before making one of the most important buying decisions in their life.

CREB®Now recently sat down with Amelia Martin, executive director for the Centre for Public Legal Education Alberta, to get answers on everything from how to review a condo board's documents to knowing your rights as an investor.

CREB®Now: ?CPLEA recently unveiled a new resource (condolawalberta.ca) to help Albertans navigate through the buying and selling process. What are some of the common questions and concerns that this resource hopes to address?

Redline Real Estate Group Inc. owner Brett Turner says not knowing the rules and the proper protocol of being a landlord can be costly in the long run. Photo by Michelle Hofer/For CREB®Now

Dec. 15, 2015 | Andrea Cox

Rental market feeling the pain

High rents, job losses contributing to lease breaks, defaults

As the torrential storm of job losses in the province escalates, Calgary's rental community is beginning to feel the fallout.

Rental management groups in the city are reporting a higher incidence of lease breaks and defaults on rent this year as energy sector woes reverberate throughout the economy.

"We've certainly had to do a lot more of this recently than in years' past," said Brett Turner, owner of Redline Real Estate Group Inc., which manages a multitude of rental properties from single-family homes to small apartment buildings.

"We've seen significantly more lease breaks and defaults on rents than ever before."

1 2 |Next


Connect With Us