Fossil fuel fortunes continue to hold predominant sway in the Calgary office market. Reflecting on a year in which a global pandemic unsettled fundamentals to the east and to the west, Calgary-based analysts focus more on tangential circumstances than the COVID-19 outbreak itself. During last week’s online commercial real estate review and forecast, executives with CBRE Calgary’s investment and advisory services fingered an economy tied to oil and gas for sinking the hesitant recovery that had appeared underway as 2020 began.
A streamlined approach to garbage room maintenance
Property management teams have been stretched thin throughout the pandemic. Between keeping staff and residents safe, meeting heightened demands, and managing building projects, it can be difficult to keep critical maintenance activities from falling off the radar. » READ MORE
As geothermal collides with carbon-free mandates and new third-party utility models, it’s expected to make strides, bringing along developers that will try to stay competitive.. » READ MORE
IN CASE YOU MISSED IT: New office supply poses backfill challenges
An influx of new office supply was always expected to shake up the status quo in Toronto’s downtown commercial real estate market given that approximately two-thirds of the 8+ million square feet of space currently under construction is already preleased. However, prospects for backfilling were perhaps viewed with less trepidation entering 2020 when the downtown Class A vacancy rate floated around 2 percent. » READ MORE