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.

Ownership model opening new doors for developers, businesses

Calgary's emerging office condo market remains hot this year, according to Barclay Street Real Estate.

The commercial real estate brokerage noted in a report earlier this month that development and sales activity in the local market has been robust thus far in 2016, which, "has led to a fertile market in which developers are diversifying their portfolios among different real estate assets such as office buildings, hotels, mixed-use retail and residential real estate by adding office condo buildings and professional centres to their holdings."