Tech firm leases large space in downtown Calgary's Telus Sky office

Absorb Software taking 80,000 square feet in 60-storey tower, taking building's occupancy to 60 per cent

By
Western Investor
April 3, 2020





Telus Sky

The Telus Sky mixed-use office tower in downtown Calgary has leased 80,000 square feet, to take its occupancy level to 60 per cent.

Tech company Absorb Software is taking the space in the under-construction 60-storey tower.

The lease announcement is a spark of good news in Calgary’s downtown office sector, which is struggling with Canada’s highest vacancy rate.

Roz McQueen, a leasing executive at Westbank, developer of Telus Sky in partnership with Allied Properties Real Estate Investment Trust and Telus, said ahead of the COVID-19 pandemic that Calgary is poised to become a significant tech hub.

The new skyscraper is designed to meet and exceed the expectations of the city’s growing creative and technology sectors.

Telus Sky has 440,000 square feet of office space, 10,000 square feet of retail and 326 residential rental units.

The latest transaction brings the commercial space of Telus Sky to 60 per cent leased with five commercial tenants. This includes Telus, which will take up about 140,000 square feet, representing about 33 per cent of the space


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