Colliers International concludes in recent reports that the Edmonton and Calgary office markets are heading in different directions.
Calgary's downtown office market experienced net negative absorption for the second quarter of 2013 and its vacancy rate grew to 5.03 per cent, up from 4.35 per cent in the first quarter of 2013. It's a trend that started in 2012.
The best properties have only a 1.62 per cent vacancy rate, but that rate is 6.88 per cent for Class B office space.
In Edmonton the downtown office vacancy rate dropped to 9.53 per cent in the second quarter on the strength of 72,000 square feet of positive absorption.
from Western Investor September 2013
