Retail building permit approvals off to strong start for national leader Calgary
More than $100 million in building permit values approved early on
Development of retail properties in Calgary surged at the start of the year, jumping 23% from the end of the year to nearly 2.5 million square feet under construction, a level that...
Former Nordstrom Vancouver store plans show possibilities for urban Hudson's Bay spaces nationwide
Cadillac Fairview reveals draft plans for carving up the former store in the centre of downtown
A new application for the long-shuttered Nordstrom in downtown Vancouver could provide a glimpse into potential retail alternatives for former urban Hudson's Bay locations after th...
Edmonton may see its industrial vacancy rate go from the highest to lowest in the nation in just two years
Market’s steady demand for space, curtailed development, ensure downward vacancy trend
Industrial building construction in Edmonton has fallen to an eight-year low. Just 1.1 million square feet of new industrial space is underway across the market, down from 5 millio...
Edmonton’s retail space availability is approaching 2019 lows
Supported by population growth and robust consumer spending, developers continue to line up their next projects
Population growth and a relatively affordable residential market have helped maintain buoyant demand for retail space. The Edmonton region is growing fast, upward and outward, and ...
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 ...