Q2 2022 Calgary Downtown Office Occupier

Market activity continues to pick up into the second quarter resulting in vacancy dropping slightly to 29.28%. Vacancy has fallen across all classes apart from Class C, which only increased marginally. Class AA vacancy is at 15.65%, Class A vacancy is at 36.07%, Class B at 41.55% and Class C is at 37.67%. Albeit slow and steady, transactions are being completed. Activity is mostly being driven by companies solidifying their hybrid policies and are now better prepared to make a commitment with their real estate.