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Stories Tagged - absorption

Courtesy of Brookfield Residential
News

Sept. 18, 2020 | Mario Toneguzzi

Local homebuilders double down on digital as COVID-19 challenges continue

Calgary's new-home construction market has been challenged this year due to the COVID-19 pandemic. Year-to-date, up until the end of August, there were 5,400 total housing starts in the Calgary census metropolitan region compared with 6,400 for the same period in 2019.

Homebuilders across the city have adopted new health and safety protocols for potential homebuyers when they are searching for a home. They've also upped their game when it comes to their digital presence.

Getty Images
News

April 25, 2018 | Mario Toneguzzi

Down but not out



Downtown office market begins bounce back

People who have lived and worked in Calgary for a long time know that the downtown office market is a great barometer of what's happening in the city's overall economy.

For the past couple of years, record vacancy rates in the heart of the city have made headline news, not only in Calgary, but nationally.

However, a recent report by commercial real estate firm Avison Young suggests we've hit the bottom and there's nowhere to go but up.

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
News

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.

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

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.
News

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.


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