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 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.

The Future of Downtown Calgary Office Space

Calgary Downtown

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.

Upsizing and Downsizing the Smart Way with Downtown Calgary Office Space

Office Space in Downtown Calgary

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.

Office Space in Downtown Calgary

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.

The Hottest Office Spaces to Rent in Calgary

office keys

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.

office keys

Downtown

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.

Residential Zones

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.

Three Great Reasons Why You Should Lease Office Space in Downtown Calgary

Calgary Commercial Real Estate

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!

John Savard and Family Help Orphans in the Philippines

A young girl feeds a baby orphan being held by a nun in the Philippines

This Christmas, John Savard, the owner of Bedrock Realty Advisors, spent the holidays with his family in the Philippines. While they were there they sponsored a Christmas lunch that fed 100 orphans, all of which are hungry children and families in need in the country. Below are some photos of the Savard family helping during the lunch.

Thank you to Missionaries of Charity (founded by Saint Theresa of Calcutta or better known as Mother Theresa), for making this possible.

Giving back is important to the Savard family and to the Bedrock team. Learn more about how Bedrock Realty has helped those in need around the world on our Community page.

Bedrock calling the bottom of the commercial market

Calgary entered the 2018 commercial market with a cautious optimism. This is a relief from a two-year recession where vacancy rates increased from 8.52% at the beginning of 2015 to 27.06% by mid 2018.

Calgary Downtown Office Marketing Forecast report
Source: Colliers International Research and Forecast Report Calgary Downtown Office Market First Quarter 2018

West Texas Intermediate (WTI) has been trading between $60-70 a barrel since late December. However, Western Canadian Select (WCS) has been trading at a discount to WTI and exporting Alberta oil is proving difficult as pipeline approvals are delayed.  This has slowed the growth potential for Calgary’s energy based economy

We are predicting that the bottom of the commercial market will be in sometime this year. With that being said the market has experienced a flight to quality space. Top quality pockets of 5,000 sq. ft. or less are being quickly leased in the current market.

What does this mean to the office user?  If you intend to take advantage of the renter’s commercial market right now, this next 12-18 months may be the most opportune time to look for savings in your rental expense or that chance to upgrade to A quality space at rents tenant’s paid for C space in 2014 at 6% vacancy. The window is wide open now but maybe closing soon.

graph average asking rates for commercial real estate in calgary
Average asking rates for commercial real estate in Calgary.
Source: Avison Young Q1 2018 Market Report

Interested in seeing what’s out there? Contact us today and we’ll help you find the perfect deal for your business.

Bedrock Realty is Hiring a New Sales Assistant

Hiring Sales Assistant

Want to make extra money during your spare time? If you are a people person and have the gift of naturally engaging people, we are looking for you. Make extra money 2-3 hours a day from home! Pick your hours to work within regular business hours.

We are looking for a sales assistant who can make phone calls and promote our real estate brokerage business.

You must have:

  • Good communication skills
  • Excellent sales skills
  • A phone and a computer
  • Preferably: Experience in call centers

We pay $15/hour plus bonus if deals that you bring in are closed. Part-time. Flexible hours. Can work from home.

Excellent career opportunity. New real estate brokerage with large upside potential. Lots of projects in the pipeline. Be one of the founding employees in this exciting company. To learn more about us, please visit www.bedrockrealty.ca.

If you are interested in this job, please send a resume. Only for Calgary area.

Job Type: Part-time

Salary: $15.00 /hour

Bedrock Owner Shares First-Home Story With CREB Now

screen shot of an article on the website CREB Now, with a photo of a Calgary, Alberta, Canada neighbourhood and the headline, First Time Home Stories From Calgary's Business Community below the photo
On April 6, Bedrock Realty owner John Savard was interviewed by online magazine CREB Now about his firs- time home purchase.

In early April 2018, Bedrock Realty owner John Savard was included in an interview by CREB Now, a Calgary real estate magazine. Savard, along with other notable Calgary business people, shared the story of his buying his first home.

Below is an excerpt from the story. Read the full article.

Savard’s first home purchase was in Inglewood in 2001. He was 32 years old at the time. As a first-time buyer, he says he was lucky to have a REALTOR® that had closing skills when it came to the purchase, which was a “fantastic thing.”

“It was an up-down duplex, because the mortgage was a little expensive. I bought it with a basement suite and I rented out the garage. I had a roommate upstairs so I could afford my mortgage.”

Bedrock Realty Helps Build Well in Uganda

Bedrock Realty owner John Savard is pictured in front of a well being built in Uganda, with community workers behind him
Bedrock Realty owner John Savard is pictured in front of the well he recently helped build in Uganda with the Entrepreneurs Organization (EO).

John Savard, owner Bedrock Realty, recently paid a visit to Uganda, where he volunteered to help have a well built for the residents in the community.

Once operational, the well will supply fresh water to approximately 3,500 people. This will save these families from walking 6 km to fetch fresh water and save them about $30 USD per month. This is a large portion of their monthly expenses.

A huge thank you to the Entrepreneurs Organization (EO) and its members Shane Benis and his father Ben Benis who created this project! We are more than pleased to have been able to assist in this incredible goal!