Calgary Vacancy by Submarket Districts Office Market Report Supplement

AVISON YOUNG Q2 2019 - Calgary Vacancy by SubMarket Districts Office Market Report Supplement

downtown calgary office vacancy by location Downtown Calgary Office Vacancy by Location 70%

63.8%

60%

15.7%

50%

42.1% 1.4% 40% 36.4% 33.7% 33.4%

2.2% 3.0% 7.7% 29.9% 29.3% 30% 29.0% 28.3% 2.4% 25.4% 2.4% 24.4% 24.6% 23.4% 23.6% 48.1% 1.1% 21.5% 1.5% 20.6% 7.8% 16.0% 20% 7.1% 5.8% 40.7% 17.0% 6.2% 31.5% 13.4% 30.4% 11.7% 28.7% 28.3% 26.6% 26.9% 10.4% 23.5% 9.3% 10% 21.9% 17.6% 7.7% 17.7% 17.3% 2.6% 14.4% 13.9% 2.5% 9.8% 6.6% 5.7% 6.6% 1.5% 0% 0.0% 1.0% Class Class A Class B Class C Overall Class Class A Class B Class C Overall Class Class A Class B Class C Overall Class Class A Class B Class C Overall AA AA AA AA All Downtown Central Core West Core East Village 46.5 msf 30.5 msf (66%) 10.8 msf (23%) 5.1 msf (11%)

Headlease Vacancy Sublease Vacancy Headlease Vacancy Sublease Vacancy

beltline calgary office vacancy by location Beltline Calgary Office Vacancy by Location

50%

40% 36.5% 0.0%

32.3%

30% 3.5%

23.8% 24.0% 0.0% 0.0% 21.4% 21.5% 21.6% 20.8% 21.4% 19.5% 20.0% 0.0% 20% 19.3% 3.2% 0.3% 3.7% 6.2% 17.3% 4.7% 36.5% 9.7% 14.8% 1.9% 8.7% 0.0% 12.6% 28.8% 0.0% 23.8% 24.0% 21.4% 9.9% 10% 19.1% 0.0% 17.5% 17.8% 15.3% 15.4% 14.8% 15.4% 12.6% 10.8% 11.8% 3.3% 9.9% 0.0% 0.0% 3.3% 0.0% 0.0% 0% 0.0% 0.0% 0.0% Class A Class B Class C Overall Class A Class B Class C Overall Class A Class B Class C Overall Class A Class B Class C Overall Class A Class B Class C Overall All Beltline Beltline Core 17th Avenue Mission Sunalta 8.4 msf 6.4 msf (76%) 0.4 msf (5%) 1.4 msf (16%) 0.2 msf (3%)

Headlease Vacancy Sublease Vacancy Headlease Vacancy Sublease Vacancy

Susan Thompson, Research Manager | 403.232.4344 | [email protected]

© 2019 Avison Young Real Estate Alberta Inc. All rights reserved. E. & O.E.: The information contained herein was obtained from sources that we deem reliable and, while thought to be correct, is not guaranteed by Avison Young. Calgary Vacancy by SubMarket Districts

suburban north calgary office vacancy by location Suburban North Office Vacancy by Location 30%

24.9% 25% 0.7% 22.6% 0.5%

19.9% 20% 0.3% 18.1% 17.9% 17.2% 17.4% 1.9% 2.0% 1.5% 2.5% 15.3% 14.7% 15% 0.3% 1.6% 12.7% 12.4% 1.2% 24.2% 0.0% 22.1% 10% 19.6% 7.6% 16.1% 15.7% 15.9% 14.9% 0.4% 15.0% 13.1% 12.4% 11.4% 5% 7.2%

0% Class A Class B Class C Overall Class A Class B Class C Overall Class A Class B Class C Overall Suburban North NE NW 10.1 msf 7.5 msf (74%) 2.6 msf (26%)

Headlease Vacancy Sublease Vacancy Headlease Vacancy Sublease Vacancy

suburban south calgary office vacancy by location Suburban South Office Vacancy by Location 25%

20.2% 20.3% 20% 19.5% 19.0% 18.1% 3.8% 17.2% 5.7% 4.3% 5.2% 16.1% 2.1% 3.8% 0.8% 14.8% 15% 0.6% 13.6% 13.4% 0.0%

11.5% 3.2%

10% 2.7%

16.5% 15.1% 15.3% 14.7% 14.3% 14.4% 14.3% 14.2% 13.4%

5% 10.3% 8.8%

1.4% 0.0% 1.4% 0% Class A Class B Class C Overall Class A Class B Class C Overall Class A Class B Class C Overall Suburban South SE SW 12.1 msf 8.4 msf (70%) 3.7 msf (30%)

Headlease Vacancy Sublease Vacancy Headlease Vacancy Sublease Vacancy

Susan Thompson, Research Manager | 403.232.4344 | [email protected]

McDonald

Centre Street

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Tr. Rd

Evanspark Blvd.

85 St. 85 201 Creek (Future)

Bearspaw Rd. Nose 2 Village Rd. Dr. Country

Nose Trail Panamount Coventry Rocky Ridge Rd. 112 Ave. N.W. Blvd. Country Hills Blvd. Country Hills Blvd. 112 Ave. N.E. Trail Stoney Creek

12 Mile Coulee Rd. Coulee Mile 12 Golf Dr. Course 1A Dr. Hills Metis Rocky Royal Wy. Golf Course Hamptons Valley Ridge Oak Hidden Dr.

Hamptons Dr. Harvest Blvd. Country Citadel Golf Dr. Bed 201 Blvd. Course Trail 60 St. N.E. Tussle ding Airport Tr. (Future) 96 Ave Royal Oak Trail 14 St. C.P.R. Blvd. N.W. Dr. To Cochrane Hills ton wood Beddington Dr. Stoney ArbourWay Lake Blvd. Park 88 Ave N.E.

Berkshire 68 St. N.E. Stoney Trail Stoney Drive Trail Nose Hill Edgepark Trail Berkley Blvd. HawkwoodDr. Blvd. Trail Blvd. Scurfield Dr. Hunterview 80 Ave. Calgary Tuscany Dr. Tr. Edgemont International CrowchildRanch John Metis Scenic lands 72 Ave. N.E. Airport Scenic Dr. Blvd. Blvd. Sarcee Silver Nose Drive 2

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Bow Dr. conridge Dr.

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Brisebois Trelle Dr. Bowness Golf Northland Park Northmount 48 Ave. N.W. 12 St. Blvd. Course McKnight Laguna

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Dr. Bowness 40 Ave. Centre 40 Ave. N.W. N.W. N.E. Road Dr. 1 h wood Drive N.W. Way a Dr. Temple g Northmount Golf Whitehorn

(Future) 77 St. 19 St. N.E. To Banff 34 Ave. a 19 St. Cambrian Trail n 32 Ave.N.W. Charles 32 Ave. Course 32 Ave. N.E.

Dr. Nose p University Park Golf N.W. N.E. 32 Ave. N.E. California

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17 Ave. S.W. 17 Ave. S.W. 28 St. S.E. 17 Ave. S.E.

S.W. 1A

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29 St. 37 St. 26 Ave. S.W. Course 26 Ave. S.E. To Chestermere

Dr. S.E. Dr. Ogden 201

69 St. S.W.

81 St. 77 St. 84 St. S.E. St. 84 Sarcee

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45 St. S.W. Road Spiller Dr. Elbow Signal Golf Erin Dr. St. 14 Rd. Dr. Richmond Course St. 36 Woods Sierra Road S.E. St. 52 Morena Richardson Park 42 Ave. S.E. Barlow 8 Sarcee Peigan Blackfoot Trail Blvd. Di ery scov 46 Ave. S.W. Way Elbow ve. vd. S.W. St. 16 46 A

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11 St. S.E. 66 Ave. S.W. Golf St. 19 8 Ogden Course Macleod Glenmore

St. Trail 72 Ave. S.E. Glenmore Park 75 Ave. S.W. 20A St. Park 76 Ave.

Fairmount (Future) Glenmore S.E. Rd. Reservoir S.W. Heritage Dr. Trail Glenmore Trail

Tr. Shepard Rd.

90 Ave. S.W. 90 Ave. 2 90 Ave. S.E. Trail

18 St. S.E. Palliser Dr. C.P.R. S.E. Bow Drive Canal

Oakwood Dr. 14 St. Irrigation (Future) Tsuu T’ina Nation Dr. 24 St. S.E.

Dr. Southland Drive Southland Acadia Stoney Trail Stoney Dr. C.P.R. S.E. St. 68

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Oakfield Braeside Dr. Golf Barlow

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52 St. S.E. St. 52 Klein Lake Blvd. sland Dr. Canyon Woodpark Blvd. Park

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McKevitt Midnapore 2

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53 St. S.W. St. 53 McKenzie Ave. Lake

24 St. S.W. St. 24 Bridlewood Dr. 22X 6 St. Lake Golf Rd. Sundance Course 37 St. S.W. St. 37 So merset S.E.

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McDonald

Centre Street

Range Road 14 y unday Lake Sney al uenuue ne uenuue 144 Ave. N.W. 144 Ave. N.W. C.P.R.

Symons 14 St. a ansan ue Sarcee West an Hy Stoney Trail Traffic Volumes (VPD) 2016 Valley Stoney Trail

Tr. Rd

Evanspark Blvd.

85 St. 85 201 Creek (Future)

Bearspaw Rd. Nose 2 Village Rd. Dr. Country

Nose Trail Panamount Coventry Rocky Ridge Rd. 112 Ave. N.W. Blvd. Country Hills Blvd. Country Hills Blvd. 112 Ave. N.E. Trail Stoney Creek

12 Mile Coulee Rd. Coulee Mile 12 Golf Dr. Course 1A Dr. Hills Metis Rocky Royal Wy. Golf Course Hamptons Valley Ridge Oak Hidden Dr.

Bow Dr. conridge Dr.

Course Dr. 11 St. N.E. St. 11 Drive St. N.W.

Brisebois Trelle Dr. Bowness Golf Northland Park Northmount 48 Ave. N.W. 12 St. Blvd. Course McKnight Laguna

Ridge Dr. Golf 44 Ave. Valley Course N.E. 53 St. N.W. S

Dr. Bowness 40 Ave. Centre 40 Ave. N.W. N.W. N.E. Road Dr. 1 h wood Drive N.W. Way a Dr. Temple g Northmount Golf Whitehorn

(Future) 77 St. 19 St. N.E. To Banff 34 Ave. a 19 St. Cambrian Trail n 32 Ave.N.W. Charles 32 Ave. Course 32 Ave. N.E.

Dr. Nose p University Park Golf N.W. N.E. 32 Ave. N.E. California

p 26 Ave.

Stoney Blvd. i of Course N.E. Calgary Park 4 St. N.W. Barlow Trail Old Banff Coach Rd. 2 32 St.

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19 St. Patina N.W. N.W.

Hill Madigan Dr. 9 Ave. Dr. 8 Ave. N.E. Marlborough Dr.

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Strathcona Dr. 14 St. o

4 Ave. Applewood Lower Springbank Rd. S.W. m

(Future) Trail 6 Ave. e

Blvd. 19 St.

Park M S.E. Dr. 85 St. N.W. 9 Ave. 8 Ave. S.E. 13 Ave. Strathcona Golf 11 Ave. Trail Course S.W. 36 St. S.E.

8 St. Park Dr. 12 Ave.S.W. 44 St. C.N.R.

17 Ave. S.W. 17 Ave. S.W. 28 St. S.E. 17 Ave. S.E.

S.W. 1A

Slopeview

S.W.

DescriptionsS.W. St. 4 of submarkets and Districts within them Rd. Golf

29 St. 37 St. 26 Ave. S.W. Course 26 Ave. S.E. To Chestermere

Dr. S.E. Dr. Ogden 201

69 St. S.W.

81 St. 77 St. 84 St. S.E. St. 84 Sarcee

Hill Trail 33 Ave. S.W. Mission Trail

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90 Ave. S.W. 90 Ave. 2 90 Ave. S.E. Trail

18 St. S.E. Palliser Dr. C.P.R. S.E. Bow Drive Canal

Oakwood Dr. 14 St. Irrigation (Future) Tsuu T’ina Nation Dr. 24 St. S.E.

Dr. Southland Drive Southland Acadia Stoney Trail Stoney

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Blvd. 146 Ave. S.E. Tr Rd. Millrise Dr. th Dr. McKenzie th lake Prov. Run Mt. McKenzie Dr. Towne

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McKevitt 2 Trail SW. Midnapore Sun Valley Blvd. Park Blvd. 162 Sunmills 201

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Blvd. th Golf th bounded on the South by 17 Avenue SW, butCourse excluding those properties located directly on 17 Avenue SW, bounded on the West194 by Ave. Crowchild Trail SW. (Future) 2A

210 Ave. 2 Trail Susan Thompson, Research Manager | 403.232.4344 | [email protected] C.P.R. To Okotoks, High River, © 2019 Avison Young Real Estate Alberta Inc. All rights reserved. E. & O.E.: The information contained herein was obtained from sources thatand we deem Fort reliable MacLeod and, while thought to be correct, is not guaranteed by Avison Young. avisonyoung.com

y alay base a suled by Calgary Vacancy by SubMarket Districts

Suburban North: All those properties located inside the municipal boundaries of The City of Calgary, bounded on the South starting on the West side of the city, along the TransCanada Highway to the intersection of said highway and Bowness Road NW, from there, continuing East, the Bow River, until you reach the intersection of Deerfoot Trail and Memorial Drive SE, from there, continuing East, Memorial Drive to the eastern edge of the city.

Northeast: All those properties located inside the municipal boundaries of The City of Calgary, bounded on the West by Centre Street (which is called Harvest Hills Boulevard for a portion), and bounded on the South by the Bow River, until you reach the intersection of Deerfoot Trail and Memorial Drive SE, from there, continuing East, Memorial Drive to the eastern edge of the city.

Northwest: All those properties located inside the municipal boundaries of The City of Calgary, bounded on the East by Centre Street (which is called Harvest Hills Boulevard for a portion), and bounded on the South starting on the West side of the city, along the TransCanada Highway to the intersection of said highway and Bowness Road NW, from there, continuing East, the Bow River until you reach Centre Street.

Suburban South: All those properties located inside the municipal boundaries of The City of Calgary, bounded on the North starting on the West side of the city, along the TransCanada Highway to the intersection of said highway and Bowness Road NW, from there, continuing East, the Bow River, until you reach the intersection of Deerfoot Trail and Memorial Drive SE, from there, continuing East, Memorial Drive to the eastern edge of the city, excluding those properties located in the Downtown or Beltline areas.

Southeast: All those properties located inside the municipal boundaries of The City of Calgary, bounded on the West by Macleod Trail to James McKevitt Road, then following the LRT and CN Rail tracks to Spruce Meadows Trail (Highway 22X), then following Sheriff King Street to the southern edge of the municipal boundary, and bounded on the North by the Bow River, until you reach the intersection of Deerfoot Trail and Memorial Drive SE, from there, continuing East, Memorial Drive to the eastern edge of the city, excluding those properties located in the Downtown or Beltline areas.

Southwest: All those properties located inside the municipal boundaries of The City of Calgary, bounded on the West by Macleod Trail to James McKevitt Road, then following the LRT and CN Rail tracks to Spruce Meadows Trail (Highway 22X), then following Sheriff King Street to the southern edge of the municipal boundary, and bounded on the North starting on the West side of the city, along the TransCanada Highway to the intersection of said highway and Bowness Road NW, from there, continuing East, the Bow River until you reach Macleod Trail, excluding those properties located in the Downtown or Beltline areas.

Susan Thompson, Research Manager | 403.232.4344 | [email protected]