CresaPartners
300 - 5th Avenue SW, #970
Calgary, Alberta T2P 3C4, Canada
tel 403.571.8080
fax 403.571.8089
Local
Market Information
Our Market
Calgary is home to a number of key industries of which energy is the most prominent. Being home to some of the largest oil and gas companies in North America and the heart of the Canadian Oil Industry, Calgary is a global leader in the energy sector. Headquarters residing in Calgary include EnCana Corporation, Suncor Energy Inc., Husky Energy, Talisman Energy and Canadian Natural Resources. Other key industries include financial services, transportation and logistics, technology, manufacturing and tourism. Despite the global recession, Calgary continues to attract business and grow its workforce.
The Calgary office market has changed dramatically since 2008 when the city was the fastest growing economy in the country. With the onslaught of the U.S. recession, the market has followed the downturn in the energy sector. Merger and acquisition activity is on the rise and inventory levels are increasing resulting in many companies re-evaluating their real estate options. Due to the flat demand for space, rental rates have fallen considerably in the past year with vacancy rates climbing at a similar pace. The addition of new inventory in 2010 as well as large blocks of sublease and headlease space coming available in the existing inventory, vacancy rates could rise to levels not seen since the early 1990’s. For more detailed specifics on the Calgary real estate market, refer to our Point of View quarterly market report.
The CresaPartners Calgary team is comprised of experienced professionals led by a group of principals, each with an average of 20 years experience. Our office has considerable knowledge in Strategic Planning, Transaction Management, Portfolio Management, Lease Administration, Sublease and Disposition and Project Management.
Our Company
CresaPartners is an international corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated real estate services, including: Transaction Management, Project Management, Relocation Planning and Management, Strategic Planning, Workforce & Location Planning, Subleases and Dispositions, Lease Administration, Capital Markets, and Facilities Management. With more than 50 North American offices, CresaPartners is the largest pure tenant representation firm in the U.S. and Canada. Through a partnership with BNP Paribas, CresaPartners is a member of one of the leading real estate organizations in the world, covering 35 countries.