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Calgary Downtown Office Market Report Q1 2019

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research article
  • Calgary’s downtown office market realized positive absorption in the first quarter of 2019, resulting in the vacancy rate decreasing to 25.23 percent.
  • Given the current economic climate downtown, landlords continue to compete over a small pool of prospective tenants by offering aggressive base rents and lucrative inducements.
  • Sublease availability for spaces under 5,000 square feet remains scarce.

Calgary Office

Calgary Downtown Office Market Report Q1 2019

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For More Information, Please Contact:

Dan Lannon

Executive Vice President | Partner

Dan Lannon is a Vice President and Partner at Colliers Calgary, a top producer in Canada and an Everest Club Member consistently performing within the top 10% of all Colliers Professionals Worldwide. Dan brings expertise to his clients in all areas of commercial office leasing: lease, sublease, and renewal negotiations; new building development; lease consolidation; and strategic thinking. With 20 years of proven success, Dan has a wealth of experience in commercial leasing and continually exceeds his clients’ real estate needs. Dan’s success can be attributed to his determination and ability to adapt to today’s ever-changing economic environment.

Clients Include:
Husky Energy Inc. – 1,000,000 square feet
Pembina Pipeline Corporation – 500,000 square feet
TAQA – 175,000 square feet
Burnet, Duckworth & Palmer LLP – 120,000 square feet
Bonavista Energy Corporation – 125,000 square feet
Whitecap Resources Inc. – 100,000 square feet
Ensign Energy Services Inc. – 50,000 square feet
Ember Resources – 50,000 square feet
Trinidad Drilling Ltd. – 45,000 square feet
Miller Thomson LLP – 45,000 square feet
Integrated Sustainability Consultants – 30,000 square feet
Packers Plus Energy Services, Inc. – 25,000 square feet
ORLEN Upstream Canada – 20,000 square feet
TransGlobe Energy Corporation – 20,000 square feet

Dan is a respected member of the commercial real estate community and is widely recognized by his peers, the brokerage community, and landlords for his ability to offer creative solutions to manoeuvre and overcome road blocks. Dan acts as mentor for new members of the Colliers team and stresses the importance of fostering an environment where others are continuously learning and growing in their respective careers.

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Jim Rea

Executive Vice President | Partner

Recognized by his peers and industry as one of the most successful commercial real estate advisors in the Calgary downtown market place consistently over the past twenty years, Jim also achieved national status as a top producer for Colliers International nation-wide from 2004 to present. A Chartered Accountant by profession, Jim has been a leasing advisor since 1984, concentrating on tenant representation in Calgary’s downtown leasing market. 

Bringing a strong business background to his clients allows Jim to share his expertise in the areas of leasing and subleasing, downtown market research and lease consultation. With a track record of success for his clients, Jim has been involved in many of the largest and most sophisticated commercial real estate transactions in downtown Calgary. Strong client advocacy skills combined with his inherent capacity to secure the most strategic opportunities possible for his clients have distinguished Jim amongst his peers.

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