Edmonton’s downtown office market may be stronger than the elevated vacancy indicates
Buildings ignored by tenants aren’t truly competitive and skew market conditions
Downtown Edmonton has dealt with elevated office space availability for years. In the past, the downtown areas of Edmonton and Calgary stood out in this regard, vacillating with bo...
Four-year industrial construction cycle, the largest on record, has come to an end in Calgary
Construction activity falls to levels not seen since early 2020
Like other major industrial markets, Calgary experienced a significant boom in construction activity related to the sudden change in inventory stockpiling during the COVID-19 pande...
Downtown Vancouver’s retail market suffers drop in visitors
Hosting FIFA World Cup games next year presents an opportunity to win back locals
A new analysis shows that the retail market in downtown Vancouver stumbled last year, attracting fewer visitors while store closings increased, resulting in rising retail space ava...
Rent declines becoming ingrained in Vancouver’s industrial market
After months of flat performance, the estimated region-wide rent is now sliding
Market asking rents in Vancouver’s industrial market are showing signs of further slippage, which threatens to result in the region-wide estimated rent posting back-to-back quarter...
Lease-up of spec builds creates a sharp turn in space availability in Vancouver’s logistics building market
The market may see an upward adjustment in availability if the recent leases were motivated by consolidation
At the end of last year, space availability in Vancouver's logistics market was 16%. This covers buildings over 100,000 square feet, with ample loading and ceiling heights of 28 fe...
Office leasing in downtown Calgary slowed, but activity suggests it could match the past three years
Oil price slide and tariffs threaten leasing in this energy-dominated submarket
Leasing activity in Calgary’s downtown core approached 500,000 square feet in the first quarter of the year. While this level of activity is on the lower end of quarterly leasing s...
Edmonton’s industrial market in a stronger position to weather incoming challenges
Conservative approach and consistent performance have laid a solid foundation
The Edmonton industrial market has set itself apart from most other Canadian metropolitan markets. Steady performance in leasing activity, space absorption and property sales, comb...
Turmoil on global trade could accelerate peak-level business closures in Vancouver region
With nearly 2% of businesses shuttered, vacant sublet availabilities have already spiked
Business closures across metro Vancouver have taken hold, even before the impact of the trade war sends Canada’s economy into recession. Nearly every industry has been affected, re...
Leasing continues to slow in Calgary’s small-to-medium bay industrial market
Lack of available space and sluggish economy combine to drag down activity in segment
Last year, small-bay leasing activity in Calgary’s industrial market slowed to its lowest level since 2015. Leasing in the medium-bay segment was also down in 2024, its lowest sinc...
Lack of deals makes it challenging to estimate office values in downtown Vancouver
Sale comps back to 2021 can help ballpark the current value of downtown office towers
Downtown Vancouver's office market is one of the strongest in North America. Going into the pandemic, the downtown core office area had an availability rate of roughly 3% and was r...
British Columbia could close tax loophole for property sales
A working agreement between ruling British Columbia political parties may end transfer-tax avoidance
Early in the fourth quarter of last year, the British Columbia New Democratic Party or NDP, narrowly retained power in the province’s most recent election. Since then, the NDP and ...
Demand for Alberta retail space driven by recent population growth
Affordable housing continues to draw new residents looking to unlock disposable income
Alberta continues to see strong retail spending, with 1.6% and 2.4% quarter-over-quarter increases in the third and fourth quarters of 2024. Comparing those two quarters to the sam...
Canada braces for tariffs, but impact will not be evenly felt across provinces
Western provinces unlikely to bear the brunt
The Canadian economy is bracing for considerable economic disruptions resulting from U.S. President Trump’s executive order to impose sweeping tariffs on Canadian exports. While no...
As business sentiment drops, new indications suggest slowdown in leasing activity
Leasing trends in Vancouver align with small-to-medium-sized business sentiment
A recent report on business sentiment finds firms are feeling less confident, which aligns with slower leasing activity.
From boom to distress, change in Vancouver land values force developers to adjust on the fly
Distressed sales trend expected to extend well into 2025
Last year, the Vancouver market began to see an uptick in distressed land sales, a trend that is likely to continue in 2025. These forced sales often involve development sites that...
Although still elevated, Calgary commercial property sales drop 33%
Multifamily trades lead all asset classes for past year in the first time in decade
Investment in the Calgary commercial real estate market was down by 33% in 2024 compared to the previous year. Total sales volume reached $2.2 billion, the fourth consecutive year ...
Multifamily leads Edmonton to record year in commercial property sales
Industrial and retail property trades likely to make bigger contributions in 2025
Edmonton's commercial real estate market posted its best year in total property sales volume since 2016. Overall property sales activity was up 10% in 2024, continuing the trend of...
Investors piled into Calgary’s retail property market in 2024
Population growth, resilient consumer spending drove interest in retail property ownership
For the first time in a decade, annual investment activity across metropolitan Calgary's retail property sector exceeded $500 million. Total retail property investment in 2024 amou...
Vancouver retail leasing resilient in 2024, but trend unlikely to continue
Population growth spurs retail leasing activity, even as top-tier tenants are limited by shortage of suitable space
Leasing activity in Vancouver’s retail market hit one million square feet in 2024 despite the sentiment that the market is short of quality space options for top-tier tenants.
Vancouver’s office market took a step forward with increased leasing activity in 2024
Despite increase in leasing, space availability will continue to climb until construction cycle comes to a close in late 2025
Leasing activity in Vancouver’s office market improved in 2024 compared to 2023, stoking market sentiment that office demand has bottomed out and is gradually increasing. With stil...