Q1 2024 Calgary Office Occupier

The first quarter of the year saw positive absorption of 305,608 sf, much of which is due to a handful of notable transactions occurring in Class AA buildings. A good sign of steady deal activity that we believe will continue through the year. Q1 2024 overall vacancy has fallen to 24.91% from 26.17% at the end of 2023. Asking rates along with operating costs continue to rise steadily, particularly in the Class AA submarket. 

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