Calgary’s Downtown office market is indeed getting healthier. Overall availability – and particularly the vacant component – of Downtown office space posted another quarter-over-quarter decrease as we moved into 2024. Just under 211,000 square feet of space was taken, which includes South Bow Corporation taking approximately 87,000 square feet pf space in 707 5th and National Bank of Canada taking approximately 44,000 square feet pf space in Banker’s Court. As of March 31st, there were just under 1,077 spaces throughout the Downtown being marketed for immediate occupancy. The last time there were this few listings was the 4th quarter of 2017 when, coincidentally, Downtown inventory was similar to present as it was prior to the completion of TELUS Sky.
