Calgary Office Vacancy at 24.1% and Expected to Continue to Rise in 2021

BedRock Realty Office Market Report

After the events of 2020, Q4 reporting includes the noteworthy point of 16 vacant office buildings in the Calgary market. Overall office vacancy in Calgary reached 24.1%, with the downtown being the hardest hit sitting at 27% and expected to climb to 30% before the end of March. Upsides include 24-month lease renewal rates dropping, resulting in landlords needing to provide further incentives to maintain existing clients. The Calgary office market has also seen increased interest from tech tenants as the province pushes for greater diversification beyond oil and gas. Businesses such as Symend and Userful both committed to substantial leases in 2020.

Read more about the current office market in Calgary in our latest Office Market Report.

Interested in taking advantage of the market and finding a new office lease? Try our Office Locator Tool and we’ll send you a list of matches for all your Calgary office wants and needs within 1 business day!

NOW HIRING!

Now Hiring
We are searching for a talented salesperson to join our busy Calgary Commercial Leasing office!
 
Want to be a part of something big with huge potential for growth? Join us at Bedrock Realty Advisors Inc., one of the fastest-growing commercial office leasing brokerages in Calgary. EARN MORE with LESS EFFORT and be part of our growth. We are looking for a real estate leasing agent to start ASAP.
 
We have more leads than we can handle and we are looking for someone with experience to help us close the deals.
 
Only one spot available – inquire now!
 
If interested, please send your resume to John Savard at john.savard@bedrockrealty.ca
 
We would prefer a licensed real estate agent with experience in commercial office leasing in Alberta. Applicants may be unlicensed if willing to take an internship and work toward getting their license. Compensation can be fixed or commission-based, or a combination of both, based on experience.
 
To learn more about us visit our site at www.bedrockrealty.ca.
 
Expected start date: ASAP
 
Job Types: Full-time, Contract, Permanent
 
Salary: $3,000.00-$5,000.00 per month

BedRock Realty Recognized as Powerbroker in Q2

BedRock Powerbroker award

BedRock Realty Advisors was recently recognized as a Powerbroker in a commercial real estate deal-making competition

In August 2020, CoStar Group, Inc., the data and analytics leader of the commercial real estate industry, announced the Power Brokers Quarterly Deals winners for the second quarter of 2020. We are excited to announce that BedRock Realty Advisors came out on top in the list of winners in Calgary. Power Brokers Quarterly Deals winners are determined by their top deals every quarter, based on price and square footage.

BedRock Realty Advisors work every day to get our clients the best deals on the best spaces. For help with all your leasing needs visit our Office Locator Tool and we’ll help you find the perfect new office space for you and your business.

For more information about our award, visit: https://www.costarpowerbrokers.com/quarterly-deals/

What to Know Before Signing a Commercial Lease Agreement in Calgary

Commercial Lease Agreement|Bedrock Realty Advisors Inc.

Are you ready to invest in the bright, new possibilities of Calgary’s commercial districts? If so, your decision couldn’t have come at a better time. As Calgary transitions from its image as a hub for energy sector headquarters and attracts a more diverse array of businesses, such as technology innovators, commercial space in Calgary could be the next hot commodity. Securing your space now puts you ahead of the growing competition for the prime real estate locations that appeal to you, your staff, and your customers.

If this is your first time looking to rent or lease space in Calgary, here are a few things to keep in mind.

How Long Can You Rent or Lease for in Calgary?

A commercial space for rent in Calgary provides the business owner with a short or long-term agreement (often in monthly or yearly increments) in which the space can be occupied for business purposes. If it’s a shorter-term, the renter typically does not have the right to significantly modify the premises, such as painting, or installing displays.

Some reasons to look for a short-term space solution in Calgary, such as renting/leasing for year or less, is if you need a pop-up store, a real-time tryout of commercial selling (such as transitioning from a web-based business to a storefront), or if your business has a definitive start and end date (such as a location to sell tickets and merchandise for an event or to use as a studio or makerspace for a limited time).

Calgary has options for short and long term rentals, so with the help of a professional real estate advisor that specializes in commercial buildings, you can find a location whether you need six months or several years.

Long-term Leasing in Calgary

Long-term leases provide the building owner with more security in knowing that they don’t have to keep looking for tenants; this often translates into lower pricing than short-term leases and rentals.

Since the business will be in the space for quite some time, the owner is also much more amenable to letting the space be customized for the business. In some cases, the owner may even build-to-suit or customize the space according to their tenant’s requests.

Leasing commercial space in Calgary is usually the final stop on the property ladder for viable businesses that will operate long-term from that location, or as the next-to-last stop for businesses looking to buy their own building at a future date.

Look for Your Next Commercial Space in Calgary With BedRock Realty

Your business deserves the best location whether you need a short-term commercial space for rent or a long-term commercial space for lease. Commercial real estate involves complicated contracts that are best reviewed on your behalf by an experienced professional.

For the best professional advice in finding a location and negotiating your contract, turn to BedRock Realty Advisors. We specialize in helping commercial businesses in Calgary find their ideal location that has the highest ROI. Contact us today to learn more.

Bedrock Realty Quoted in Real Estate Article on Unique Downtown Office Space

Canada's Largest Office Floor | Bedrock Realty Advisors Inc.

Over the Christmas holidays, John Savard, Owner of Bedrock Realty, was quoted in an interesting article about one of downtown Calgary’s most unique (and largest) offices spaces available on the market right now.

“Gulf Canada Square is the length of two city blocks . . . it’s so unique. You won’t ever see that,” said Savard in the article. “Firstly, an 80,000-square-foot floor plate is extremely rare in the entire country and it’s the largest for an office space. That’s the largest base building space that exists (for lease) in Calgary and the country.”

You can learn more about this available space in the full article.

BedRock Realty is Hiring!

BedRock is Hiring

BedRock is Hiring

Come join our growing commercial real estate brokerage at our new office in the Edison! Build your future with us!

Our Values: At BedRock we believe our clients’ interests are paramount, therefore we represent only one side of a transaction.

We are looking for a licenced Associate with at least 1 year of experience in office leasing. Must be licenced in Alberta for commercial real estate.

If you are interested, call us at 403.619.5646 or email us your resume.

Five Things to Consider Before Choosing a Commercial Space for Rent in Calgary

City Skyline

City Skyline

Commercial space for lease in Calgary is wide open at the moment, with plenty of options downtown and in the surrounding suburban areas. It is, essentially, a buyer’s market for entrepreneurs and corporations looking to establish in the city – but that doesn’t mean you should be hasty! Today Bedrock Realty Advisors Inc. a trusted commercial realty advisor in Calgary, discusses the top five things to consider before looking for a commercial space to rent in Calgary.

  1. Location, Location, Location
    The most important factor in choosing your Calgary lease space is the location. The city has many desirable locations, including downtown. Right now is a great time for smaller businesses or startups to invest in downtown. Lease rates are down since several notable energy companies have pulled out of Alberta. This has opened up the core to revitalization as some property developers are turning empty towers into apartments. Slowly but surely, downtown is changing to have a wider range of businesses, along with more residences. If you are on the hunt for commercial space to rent in Calgary, don’t discount downtown. You may be surprised at what you can get for a great price right now.
  2. Growth Potential
    Moving a business is time-consuming and very expensive. Before you put down a deposit on a commercial space for lease in Calgary, ensure it has the room you need to expand. It is well worth looking at buying up adjacent bays, or facilities with a few extra office spaces even if they will sit empty for a couple of years. The price of maintaining the space is often less than the price of relocating and changing your address on all of your branding materials.
  3. Easy Access
    Whether your commercial space for rent in Calgary is going to rely on foot traffic from customers (like a retail store) or not (like warehousing or online services), it must be accessible. You, your customers, and your staff want to be close to work via a short commute or by public transit. Commercial space for lease in Calgary’s downtown is a great option because the C Train is free to use downtown. This means your customers and staff don’t have to worry about parking or slippery roads during Alberta’s chilly winters.
  4. Value Add-Ons
    Again, considering both your customers and your staff, you want a location that has extra value for everyone that uses or comes to the space. Your commercial space for rent in Calgary should be close to amenities like green spaces, lunch shops, and safe walking trails (be they streets or more suburban areas). Also consider the value of having accessible washrooms for the differently-abled, gender-neutral washrooms, lactating rooms for female staff that are nursing, nap rooms (which are trending right now!) and being close to laundry mats and grocery stores for the team members that must take care of these chores before or after their workday.
  5. Future Potential
    The commercial space for rent in Calgary that you ultimately decide on must also depend on the area’s future potential. The City of Calgary is looking to attract tech-focused businesses, for example, meaning any company that is tech-focused or supplies the tech sector would be wise to rent in downtown Calgary before competition for space ramps up.

Bedrock Realty Advisors Inc. guides those looking for commercial space to lease in Calgary through the process of finding the ideal location for your business’ present and future needs. Contact us today and let us help you find the perfect spot to launch and thrive.