Calgary bucking the trend in commercial real estate sales
Posted Oct 29, 2013 12:14 pm.
This article is more than 5 years old.
Commercial sales may be slipping in most major Canadian markets but here in Calgary, things are heading in another direction.
That’s according to a new report from Remax that shows sales are up 8 per cent but there’s a problem, there’s not enough supply.
Director of Remax Western Canada Roy Anderson tells 660News Calgary has become a hub.
Businesses are looking to Cowtown rather than Vancouver or Toronto.
“There’s pent-up demand, stuff that’s on the books and ready to hit the market in the next two years,” says Anderson. “I think it’s really going to change the market quite a bit.”
Items like the expansion of Chinook Centre which had a million square feet of retail space in the next couple of years.
In the first half of 2013 there were 209 transactions over the million dollar price point, compare that to the year before where there were 194.
Anderson adds things are looking good in terms of office space but he adds we do need more industrial parks within city limits.
