The recovery of Calgary’s Downtown office market continued through the third quarter of 2024. Overall availability – and particularly the vacant component – of Downtown office space posted another quarter-over-quarter decrease. Substantial and ongoing demand for A and B class space continued to drive vacancy down in these categories and within these classes, we observed that the mid-sized range of options – those measuring 6,000 – 10,000 square feet – continued to diminish. This is especially noticeable in available sublease inventory.
