Availability in Calgary’s Beltline office market increased ever-so-slightly during the final quarter of 2023. A spike in sublease availability resulted in approximately 20,000 square feet (sf) of negative net absorption. The new space introduced to the market was primarily available for sublease and located in polar opposites of the size spectrum: pockets measuring 2,000 – 4,000 sf and in large 10,000+ sf spaces. With such a small net change in overall occupied space, total occupied space in the Beltline remained largely consistent with the previous quarter at 75.7%.
