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The opportunity in Calgary’s suburban & beltline office markets

Calgary's suburban and Beltline office markets present promising opportunities for businesses. Post-pandemic, suburban offices have seen high occupancy rates, with positive absorption in five of the last nine quarters. The Beltline area, located south of downtown, offers seven million square feet of office space, combining convenience and amenities.

Calgary is expected to outpace national economic and population growth over the next five years, driven by migration and higher median household incomes. These factors create a growing tenant pool, benefiting local office markets. Despite high vacancy rates, suitable office spaces that meet tenants' specific needs are limited, with high-quality, move-in ready spaces in high demand.

Both markets face challenges, such as converting large, specialized office spaces to suit smaller tenants. However, the suburban market benefits from affordable parking and proximity to highways, while the Beltline offers walkable amenities and more affordable parking compared to downtown.

Colliers experts note that return-to-office trends and rising construction costs are pushing tenants to seek well-located, amenity-rich spaces. The market also benefits from Calgary's diverse economy, including healthcare, professional services, technology, and construction sectors.



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