Q4 2023 Calgary Office Occupier
The fourth quarter of the year finished off with a good deal of activity. Overall vacancy for Q4 fell to 26.17% with a whopping 1,242 082 square feet of positive absorption. This is in part, due to one of the largest deals that has happened in the downtown core for quite some time. Once again, vacancy has fallen across all classes: Class AA vacancy is 13.52%, Class A is 31.08%, Class B is 38.17% and Class C is 38.36%. Typically, market activity slows down before the holidays, but the year finished off strongly with several notable transactions including ARC Resources renewing in Jamieson Place, AltaGas relocating to 707 Fifth, Obsidian Energy renewing in Penn West Plaza East and National Bank relocating to Bankers Court.
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