Calgary office vacancy rate falling: CBRE Canada report

Fewer Calgary offices are vacant compared to the past two years, with the current vacancy rate at 28%. The downtown office vacancy rate remains high at 30%, but there is hope for improvement due to an increase in people moving to Alberta. No new office projects started in early 2024, allowing the market to stabilize. Challenges for tenants include high construction costs and limited move-in-ready spaces, especially for multi-floor tenants. The energy sector continues to occupy the majority of office space in Calgary.