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Calgary's downtown office vacancy rates rise to record levels with no landlord relief in sight


The Globe and Mail
Dan Healing
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Jeff McIntosh/The Canadian Press
Vacancies in Calgary’s downtown office towers have risen to record levels and there’s no landlord relief in sight with almost one in three offices sitting empty and sublets accounting for a quarter of available spaces on the market.
The city’s glut of empty office space has previously been linked to overbuilding but two commercial real estate reports released this past week show that downtown vacancy rates in Canada’s oil and gas capital are the highest in the country and growing – despite no major new towers opening in the past two years. ....

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