What to Know Before Signing a Commercial Lease Agreement in Calgary

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.

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.

Seven Encouraging Facts You Should Know Before Renting Office Space in Calgary

Calgary Transit Downtown

Calgary is a bustling city with a population of over 1.2 million. For a long time, it was highly attractive to energy corporations who choose this city as their Canadian headquarters. As the energy industry in Canada, particularly Alberta, changes, Calgary is changing along with it. Today we will look at how this transition has created ideal conditions for companies seeking Calgary office space for lease.

Calgary Transit Downtown

  1. The Population is Growing
    Despite the dire news stories of Calgary’s downtown emptying out as oil companies leave the scene, you would be remiss in thinking this is heralding a mass exodus of residents across the city. Census data between April 2017 and April 2018 show that the population actually increased by 21,007, and now sits at a healthy 1,267,344 million. Are you a company looking for a Calgary office for rent? If so, know that you have a large local base that will enjoy your products or services.
  2. Vacancy Rates are Down and Housing Starts are Up
    Another comforting statistic is the fall of overall vacancy rates (housing), which went from 4.76% in 2017 to 3.86% in 2018. New dwellings under construction also increased by 1,691 during this time period. Again, this shows companies looking for Calgary office space to lease that the city’s residents know they have plenty of reasons to stay and put down roots.
  3. Calgary Could be the Next Tech Hub in Canada
    Recently, Calgary Economic Development announced its $4 million Live Tech, Love Life campaign, which aims to attract entrepreneurs and fill the 2,000+ vacant tech jobs in the city. The campaign will also help rebrand the city as an innovate place for startups. Downtown is ideally priced for new tech companies looking for Calgary office space for rent.
  4. Calgary Office Space for Lease is Affordable Downtown
    Yes, the fact that many high profile corporations have left downtown is concerning, but there is a very big silver lining – lease and rent prices in downtown Calgary have fallen, enabling entrepreneurs, startups, and foreign investors to get outstanding rates on prime office space. Anyone looking for Calgary office space for rent would be wise to check out downtown in their search for the perfect property.
  5. Free Downtown Transit
    If you are a company from out of town looking for Calgary office space for lease, here is a big bonus – Calgary’s C-train is free downtown! This is just one more great reason to locate your office in the hub of the action. Not only will your staff that live downtown save gas and time by hopping on the CTrain, which is free at stops on 7 Ave, being downtown will encourage your customers to stop by, knowing they won’t have to deal with a frustrating drive or lack of parking.
  6. Downtown Apartments are Under Construction
    In point 5 above we mentioned living and working downtown – it’s getting even easier to do so since landlords are repurposing empty office spaces into apartments. Any company looking for a Calgary office for rent can have the option to live in an attractive, affordable downtown apartment with free CTrain transit along 7 Ave. It’s a win-win situation!
  7. Calgary is Undeniably Resilient
    All the points above about why you should rent office space in Calgary cumulate in one fact – Calgary is resilient.  As one era ends, the city simply shifts its focus and rebrands itself. Calgary takes challenges and turns them into opportunities. Now is the time to invest in office space in Calgary as the city is poised on the brink of its newest, and most progressive, identity.

 

Don’t search for Calgary office space for rent alone. BedRock Realty Advisors Inc. is your partner for finding ideal office space for lease downtown. Contact us today and we will find you the best location for your business.