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Cresa Calgary
606 Fourth
Suite 1400, 606 - 4 Street SW
Calgary, Alberta T2P 1T1
403-571-8080 tel
Email
Map/Directions

Contacts

Damon Harmon, CPA, CGA
Managing Principal
Email
403.571.8221 tel
Janet Hewitt
Principal, Project Manager
Email
403.571.6019 tel

Calgary



In 1993 a boutique tenant representation firm called Moss Realty Inc. was founded because no other firms were providing exclusive advocacy for tenants. For a decade our founding partners devoted all of their efforts to representing space users through the corporate real estate process. In 2003 Moss Realty Inc. was introduced to Cresa and with their mandates aligned, the Calgary office was born. Since then Cresa Alberta has evolved and along with having some of the most experienced senior principals in the industry we also have one of the largest and most active leasing groups in the city with 19 advisors and 26 employees. Even though the company has grown over the years the fundamentals that led to its early success remain unchanged. Do the right thing, listen, be entrepreneurial, think creatively and provide the highest level of service. Integrity and respect are the pillars of our organization and we promise our clients and prospects that who we are will define us more than what we do … always.

  • Calgary Downtown Office Market

    Q1 2017 Vacancy Summary - All Classes

    Supply
    43,582,934 SF
    Vacancy
    10,363,010 SF
    Absorption
    1,322,676 SF
    Avg. Lease Rate
    $37.56 PSF
  • Calgary Beltline Office Market

    Q1 2017 Vacancy Summary

    Supply
    6,961,646 SF
    Vacancy
    1,228,767 SF
    Absorption
    - 25,061 SF
    Avg. Lease Rate
    $31.82 PSF

Market Insights

Another quarter brings another increase in the vacancy rate for Calgary’s downtown core, taking the market to a new high of 24.74%. Absorption for the second quarter was negative 312,481 square feet, the bulk of which came in the B class market; quarter-to-quarter, this represents approximately a 1% increase to total downtown vacancy.

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Downtown Calgary’s overall vacancy remained relatively steady in Q1 and currently sits at 23.78%. Absorption in the first quarter was positive 1,322,676 square feet, which seems like a quarter of meaningful growth, but is due solely to the addition of Brookfield Place – East into inventory which will be opening Fall 2017.

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People

Syeda Ahmad Project Management Coordinator 403.571.8082
Greg Albright Principal 403.571.8223
Donna Lea Banks Senior Vice President 403.571.6018
Nicole Bennett Advisor 403.258.1872
Jessica Downie Advisor 403.537.2393
John Engbloom Principal 403.571.6016
Josh Hamill Principal 403.539.0889
Damon Harmon, CPA, CGA Managing Principal 403.571.8221
Adam Hayes Principal, Broker 403.571.8222
Janet Hewitt Principal, Project Manager 403.571.6019
Dan Houston Vice President 403.539.0893
Gary Jones Principal 403.571.8081
Josh Manerikar Senior Advisor 403.571.8227
Bradyn McCullough Business Development Associate 403.450.8313
David Miles Principal 403.571.8088
Doug Pilip Strategic Advisory Board 403.571.8228
Kendra Pinder Principal 403.571.8085
Terri Raison Business Manager 403.539.0888
Tristan Sikora Advisor 403.571.8083
Adam Stewart Advisor 403.590.5704
John Stones Senior Vice President 403.571.8086
Melinda Woo Marketing Manager 403.571.8087

Success Stories

Client Location Sq. Footage
Alberta Securities Commission Calgary, Alberta  70,000 
Carbert Waite LLP Calgary, Alberta  7,500 
Chevron Canada Limited Calgary, Alberta   
MEG Energy Corp. Calgary, Alberta  296,159 
Precision Drilling Houston, Texas  74,125 
Savanna Energy Services Corp. Calgary, Alberta  55,000 
Standard Land Company Inc. Calgary, Alberta  39,000 
Storm Resources Inc. Calgary, Alberta  13,269 
Tartan Engineering Calgary, Alberta  41,000 
The University of Calgary Calgary, Alberta  127,000 
Zargon Oil & Gas Calgary, Alberta  40,000 

Subleases & Sales

Property Available Space Rental Rate
Sublease: 409 Tenth Avenue SE
409 - 10 Avenue SE
Calgary, Alberta T2G 0W2
Floors 1-2 plus Basement: Up to 20,778 sf Market sublease rates
Sublease: 409 Tenth Avenue SE, 2 Floors
409 - 10 Avenue SE
Calgary, Alberta T2G 0W2
Main Floor: 19,100 sf OR 2nd Floor: 17,800 sf Market sublease rates
Sublease: 409 Tenth Avenue SE, 6,550 sf
409 - 10 Avenue SE
Calgary, Alberta T2G 0W2
Main Floor: 6,550 sf Market sublease rates
Sublease: 635 Eighth Avenue Place SW
635 - 8 Avenue SW
Calgary, Alberta T2P 3M3
9th Floor: Up to 12,073 sf; 7th Floor: Up to 12,064 sf Market sublease rates
Sublease: 1131 Kensington Road NW
1131 Kensington Road NW
Calgary, Alberta T2N3P4
Suite 200: 2,434 sf Market rates
Sale: 2601 - 52 Street SE
2601 - 52 Street SE
Calgary, Alberta T2B 1N3
41.45 acres
Lease: 7000 Railway Street SE
7000 Railway Street SE
Calgary, Alberta T2H 3A8
Main Floor Office/Lab: 2,572 sf; Warehouse: 2,728 sf $14.00 per sf (includes yard)
Sale: 8615 - 44 Street SE/8616 - 40 Street SE
8615 - 44 Street SE
Calgary, Alberta T2C 2P5
21,800 sf
Sublease: Bankers Court
850 - 2 Street SW
Calgary, Alberta T2P 0R8
10th Floor: 8,487 sf $20.00 per sf, gross
Sublease: Bankers Hall - West
888 - 3 Street SW
Calgary, Alberta T2P 5C5
Floors 17-19: 60,122 sf; Floors 34-35: 41,063 sf; Floor 38: 5,866 sf Gross rent, call for details
Sublease: Bow Valley Square III
255 - 5 Avenue SW
Calgary, Alberta T2P 3G6
18th Floor: 11,522 sf OR 20th Floor: 11,522 sf $18.00 per sf, gross
Sublease: Cantex Building
325 Manning Road NE
Calgary, Alberta T2E2P5
Suite 100 - 11,567 sf $19.00 per sf, gross
Sublease: Centennial Building
816 - 7 Avenue SW
Calgary, Alberta T2P 1A1
Suite 410: 1,160 sf; Individual offices available Aggressive sublease rates
Sublease: Centennial Place - East, Floors 31 & 37
520 - 3 Avenue SW
Calgary, Alberta T2P 0R3
31st Floor: 3,967 sf; 37th Floor: 7,795 sf Market sublease rates
Sublease: Centennial Place - West, 20th Floor
250 - 5 Street SW
Calgary, Alberta
20th Floor: 3,450 sf Low single-digit rates
Sublease: Chevron Plaza
500 - 5 Avenue SW
Calgary, Alberta T2P 3L5
Floors 4-7: Up to 41,539 sf $5.00 per sf/annum
Sublease: Devon Tower
400 - 3 Avenue SW
Calgary, Alberta T2P 4H2
Floor 3: 7,600 sf; Floor 11: 8,360 sf; Floor 12: 19,519 sf Market sublease rates
Sale: Edinburgh Place
900 - 6 Avenue SW
Calgary, Alberta T2P 3K2
Up to 5,811 sf Price: $1,500,000.00
Sublease: Fifth & Fifth, 5th Floor
605 - 5 Avenue SW
Calgary, Alberta T2P 3H5
5th Floor: 6,444 sf Gross rent, call for details
Sublease: Fifth & Fifth, 26th Floor
605 - 5 Avenue SW
Calgary, Alberta T2P 3H5
26th Floor: Will consider anything from 1 office/workstation to 15,286 sf (full floor) Gross rental rates considered
Sublease: First Canadian Centre, 11th Floor
350 - 7 Avenue SW
Calgary, Alberta T2P 3N9
11th Floor: Approx. 6,000 sf Market sublease rates
Sublease: First Canadian Centre, 12th Floor
350 - 7 Avenue SW
Calgary, Alberta T2P 3N9
12th Floor: 9,000 sf Market sublease rates
Sublease: Glenbow Building
822 - 11 Avenue SW
Calgary, Alberta T2R0E5
Floor 2: 1,070 sf Market sublease rates
Sublease: Kensington Professional Centre
1228 Kensington Road NW
Calgary, Alberta T2N 3P7
Suite 201: 2,553 sf
Sublease: Paramount Building
1011 - 1 Street SW
Calgary, Alberta T2R 1J2
Suite 200: 5,647 sf $0.00 per sf
Sublease: Paramount Building, 2,000 sf
1011 - 1 Street SW
Calgary, Alberta T2R 1J2
2nd Floor: Approximately 2,000 sf $0.00 per sf
Sublease: Penn West Plaza - East/West
207 Ninth Avenue SW
215 Ninth Avenue SW
Calgary, Alberta
East Tower - Up To 46,908 sf West Tower - Up To 62,483 sf Market sublease rates
Sublease: Riverbend Atrium One
200 Rivercrest Drive SE
Calgary, Alberta T2C 2X5
Main Floor: 3,300 (TBV) Market sublease rates
Sublease: Sun Life Plaza I - West
144 - 4 Avenue SW
Calgary, Alberta T2P 3N4
Floors 19-20: Up to 24,984 sf Aggressive sublease rates
Sublease: Sun Life Plaza II - North
140 - 4 Avenue SW
4th Floor
Calgary, Alberta T2P 3N3
4th Floor: 3,510 Market sublease rates
Sublease: Sun Life Plaza III - East, 9th Floor
112 - 4 Avenue SW
9th Floor
Calgary, Alberta T2P 0H3
9th Floor: 14,887 sf Market sublease rates
Sublease: Sun Life Plaza III - East, 11th Floor
112 - 4 Avenue SW
11th Floor
Calgary, Alberta T2P 0H3
11th Floor: 14,890 sf Market sublease rates
Sublease: Sun Life Plaza III - East, 20th Floor
112 - 4 Avenue SW
20th Floor
Calgary, Alberta T2P 0H3
20th Floor: 15,223 sf Market sublease rates
Sublease: Westmount Corporate Campus, Bldg #4
4820 Richard Road SW
Calgary, Alberta T3E 6L1
4th Floor: 12,017 sf; 5th Floor: 26,7985 sf Market sublease rates
Sublease: 1851 - 94 Street, Edmonton
1851 - 94 Street
Edmonton, Alberta T6N 1E6
Main Floor: 8,982 sf Market sublease rates
Operating Costs in the Full-Rent Equation
Why a lower rental rate does not always equal the best deal. In Calgary, we are in a commercial real estate market of high vacancy and low rental rates – truly a tenant’s market – and one that is very well publicized. In this market, tenants have […] Read More