The recovery of Calgary’s Downtown office market held strong during the second quarter of 2024. Overall availability – and particularly the vacant component – of Downtown office space posted another quarter-over-quarter decrease as we closed the first half of 2024. Just under 208,000 square feet of headlease space was taken through the second quarter, bringing the vacancy rate down even further. We also saw an uptick in new space marketed for sublease, sub-sublease and/or office share, which caused the overall availability rate for the Downtown to increase slightly.
