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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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!
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.
Alberta is changing rapidly, isn’t it? From a recession to an election, there are all sorts of factors that influence the vacancy rates of downtown Calgary office space. And let’s face it – right now vacancy rates are high, but is that really bad news? Yes, we saw a mass exodus of energy-related corporations as the oil and gas industry slowed down, and yes things do not look bright for a quick rebound in the energy sector, but remember – downtown Calgary office space has much to offer many industries, making the possible future of the downtown core a very bright one.
What do the Statistics Say?
Colliers International’s Calgary Downtown Office Market Report Q2 2019 is optimistic. While the report admits, “Colliers believes high vacancy rates will continue to prevail in the near term,” it also points out that reverse migration from the suburban offices to the core is expected. This is due to higher quality spaces with more amenities being leased and sold at very attractive prices. Additionally, recent property tax increases in areas outside of downtown can contribute to pushing commercial businesses into the core.
A Changing Picture
Just because Calgary was once known as a hot spot for energy company head offices doesn’t mean that it is limited to that vision. The future of downtown Calgary office space is one change and adaptation. The report also mentions that co-working companies are taking a closer look at downtown Calgary office space, as this location is filled with the amenities that make co-working so attractive, such as underground parking, transit, shops, and services.
“In a market where it is increasingly hard to attract and retain top talent and equally difficult to increase compensation for employees, greater focus is being placed on the interaction of space and building with the overall employee experience,” cites the report.
What Does This Mean for You?
Are you starting a business? Looking to make a positive change for your employees? Growing your brand? Interested in moving into the Calgary market? Whatever your reasons for doing business in the city, now is the best time to look at downtown Calgary office space.
Due to high vacancy rates, lease and sale prices are optimal. Where downtown Calgary office space was once prohibitively expensive for many hardworking companies, it is now within reach.
Downtown is full of great amenities that promote brand exposure and provide a comfortable, walkable experience for your team and customers. With the future of downtown Calgary office space possibly poised to take off, the time to take advantage of the market is right now.
The experts at Bedrock Realty are here to make your dream office space come true. Contact us today to learn how you can get office space in Calgary’s downtown core.
Most entrepreneurs think that upsizing is the best way to measure company growth, but let’s not be too hasty. Downsizing could also be a strategic move, and with the many options for downtown Calgary office space, you can find the perfect fit for any business situation.
Here at Bedrock Realty, we have a singular focus on matching businesses of all sizes with spaces to rent or lease in downtown Calgary, or any of the other popular districts. We are plugged into the industry and have access to the most unique spaces, be they towering lofts, accessible to transport corridors, or situated to draw in foot traffic.
We’ve seen many companies up or downsize for many reasons.
Upsizing to Accommodate Less Staff but More Products
When product-based companies leverage automation, allow the team to telecommute, or move operations to a digital platform, they often upsize their warehouse space while simultaneously downsizing their office space. They still need office space, just not as much.
Why not try moving the warehouse operations to the transport corridor and the administration offices to a downtown office space? The admin team would appreciate walking access to shops, eateries and services, along with easy access to the LRT line. It’s a creative upsizing solution.
Downsizing for the Staff
We mentioned telecommunicating above, as it is something that helps your team balance busy work and home lives. Even a growing company can downsize into a boutique Calgary downtown office space by setting up a drop in shared workplace environment instead of traditional offices.
Just imagine – your team can work from home but when they need to meet clients or have meetings, they can find an open desk or workspace in your office, and just plug in their laptop. Again, the downtown location is perfect for this type of setup as the shift from corporate headquarters to more tech-focused and boutique businesses is going on right now.
Up or Downsizing to take Advantage of the Calgary Downtown Office Space Market
There is no easy way to put it – lease rates in downtown Calgary have plunged and vacancy rates are high. Although this represents a tough time in our economy, there is a very big silver lining. Up and coming entrepreneurs and small businesses can take advantage of lower rates to move into Calgary’s downtown core, and larger businesses that are winding down operations can divest themselves of sprawling facilities on the outskirts finish out their days in chic offices downtown.
Bedrock Realty matches you with the downtown Calgary office space you need
Whether your company is up or downsizing for any reason, you need the prefect office space for your clients, your team, and your operations. Let us put our experience to work for you. We match you with the best downtown Calgary office space so your business can continue thrive. Contact us today to learn more.
Location, location, location! That is the mantra when it comes to real estate, and that doesn’t only apply to residential sales. When you are looking to set up an office in Calgary, the location, not the price, should be your driving factor. Of course, lease rates matter too, but the location is what drives customers, enables delivery of stock, and sets the aesthetics of your business. Today we’ll explore some of the hottest locations in Calgary for your business and show you how to find the one you need.
It’s not a secret that Calgary’s downtown core was hit hard by the recession, but there is a silver lining for businesses looking for office space to rent in Calgary. Lease rates have become extremely competitive, enabling a new wave of small business owners, tech-focused companies, and startups to afford rent downtown. With its transit service and other amenities, downtown is poised to make a strong comeback as the place for businesses to be in Calgary. If you are looking for office space but think the lease rates downtown are too much for your new business, think again. We are happy to show you options in this area.
23rd Street Warehouse Complex
Office space for rent in Calgary doesn’t have to centre on high foot traffic. Companies that rely primarily on shipping and receiving goods are better served by a small office and accompanying warehouse bay. One such example is the 23rd street complex with bays from approximately 1,240 to 1,960 square feet, and one or two offices out front. A setup like this eliminates the need to have your office in one location and your warehouse in another. The 23rd Street complex, like most warehouse facilities in the city, is ideally located along major traffic routes; making it easy for you to ship and receive products. Renting office space in Calgary near major commuter routes is also a smart marketing move, as your signage will help push your brand, even if your businesses isn’t walk-in customer centric.
It takes a bit of paperwork and permission from The City of Calgary to open a commercial business in a residential zone but depending on your type of business, it could be well worth the effort. Personal services such as appointment-only hair and nail salons, small catering services, and other businesses where a basement or small dwelling serve as the headquarters, add charm and convenience to the neighbourhood. It’s also an ideal way to test drive a business idea when just starting out. Once an area is rezoned, if the original business folds, you may have an opportunity to rent or lease the space. We are happy to show you options for office space to rent that is off the beaten track, and right where your customers live.
Matching You with the Office Space You Need
BedRock Realty Advisors matches you with the space you want and need. We are familiar with the attributes of hundreds of leasing spaces in Calgary and have solutions for businesses of all sizes. From our in-person consulting to our online tools, working with us is easy and convenient. Contact us today to find the best office space to rent in Calgary.
The recession hit Calgary hard. There is no getting around that. Yet, despite the fallout, slow recovery, and the impact it had on Calgary’s downtown commercial spaces, there are plenty of reasons for optimism. As per Colliers International Calgary Downtown Office Market Report Q2 2019, the downtown core’s vacancy rate is just above 24 per cent, which is roughly 1.5 per cent lower than 2018. However, that number is actually 14 per cent higher than a balanced market vacancy rate. While the report notes that high vacancy rates will continue in the near future, migration to the downtown core is expected. In fact, if you are looking for Calgary office space for lease downtown, now may be the best time to sign a contract.
Here are three reasons why you should be eyeing the downtown core for your commercial location:
1. Low Lease Rates
The Globe and Mail reports that Calgary’s downtown office values fell by 32 per cent by the end of 2018. This is a shocking statistic for many, but welcome news for new, emerging, and tech-focused companies that typically avoided the high rents of Calgary’s hottest commercial location. Attractive lease rates provide powerful motivation for small businesses and startups to operate downtown, effectively rebuilding the core with a more diverse range of products and services. If you are a small business, a business looking to relocate, a startup, or a company considering a move to Calgary, now is the time to take advantage of Calgary’s office space for lease downtown.
2. Growing popularity
In addition to attractive rates, Calgary office space for lease downtown is getting a boost by the increase in property taxes levied on buildings outside of the core. Now, being outside of the core means higher property taxes, less access to transit, and fewer amenities for both staff and patrons. These are some of the reasons why migration is increasing into the core. Downtown office space is growing in popularity. Getting in now secures your spot before it’s too late.
3. Industry Diversity
As Calgary continues to push for a more diverse economy and offers attractive incentives for the tech, healthcare, education, etc. sectors to take a closer look at the city, Calgary’s downtown can expect a comeback that features a new array of corporations. In the past Calgary office space for lease downtown was dominated by the energy sector. The future is wide open. Efforts are in place to attract local and foreign investment to the downtown core. Again, the time to act is now if you want to secure a location in the most convenient part of the city.
So, what are you waiting for? The lower prices and push to diversify means downtown is poised for a spectacular comeback, and you can take advantage of it by securing a lease today. Bedrock Realty Advisors prides itself on offering solid advice. Let us help you find your ideal Calgary office space for lease downtown. Want to learn more about what sort of office spaces are available? Use our Office Locator Tool today at and we’ll send you a list of spaces that fit your needs and budget!
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What Our Clients Are Saying
I would like to take this opportunity to thank you for helping us secure our new office premises. Your professional expertise and attention to detail made finding new office space a pleasurable experience.
Your understanding of the landlord’s lease and what the landlord’s giving points were helped our firm secure very favourable lease terms. We are confident that you represented our firm’s best interest throughout the entire process.
Your knowledge of the office market saved us money! The recommendation of asking for a free rent period directly helped our firm save a significant amount of money to off-set our moving costs.
Without hesitation, I would recommend your leasing services to my clients, friends and business associates.
Robert B. Ramsay
President, Vantage Engineering Inc.
ACM Automation used John Savard’s services for our office lease renewals in 2003 & 2008. In both negotiations, we did not want to move and were concerned that our landlord would use that against us. John was able to present market comparable alternatives to the landlord so the landlord now had to compete against its competition to earn our tenancy. I strongly feel that John’s involvement created the leverage that ACM Automation required to secure ACM favourable lease terms.
In the fall of 2011, ACM Automation needed to expand our business. A simple solution presented itself as there was vacant space in our building. Expansion in our building seemed easy as we still had 2 years left on the lease that John had negotiated 3 years prior. We thought we had a solution figured out in our direct discussions with our landlord’s agent but I called my trusted real estate broker for his opinion. John advised us on the office market. It seemed to be a reasonable solution to expand in our building given the limited recoveries that we could achieve in the current Sublease market that would make a move too costly.
Owner, ACM Facility Safety
John has been my office space advisor for over 7 years now. His initial role was vital in relocating to our previous location 5 years ago.
In our most recent relocation, our company growth plans crated uncertainty over just how much more office space we would require and therefore crated a delay in our ability to make a timely decision. This delay challenged our search choices such that only a few options existed.
Our search parameters were also limited by location. Our firm’s business requires our location to be close to both City Hall and major transportation arteries such as the Memorial Drive and Deerfoot Trail. John was able to increase the set of office location options by recommending a building in the west end of downtown. I trusted johns’ knowledge of our new building’s ingress and egress of traffic. I have since discovered that John’s recommendation has saved our firm a significant amount of travel time.
John successfully navigated our limited choices and was able to successfully negotiate a very favourable lease for our firm in a location that has turned out better than I would have thought. John’s knowledge of the Landlord’s Lease revealed the giving points that provided us the comfort of a lease that would protect our firm.
Without Hesitation, I would recommend John Savard’s office leasing services to my friends and colleagues.
Brown & Associates Planning Group
John has been our trusted source for the last twelve years, and our last three office locations. He is incredibly knowledgeable and helped us get a prime location that exceeded our expectations.
John takes the pain out of an office move, without a doubt I would recommend working with BedRock Realty.