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Stories Tagged - Cushman & Wakefield
News
Feb. 14, 2018 | Mario Toneguzzi
Under the radar
Industrial real estate market hopes to maintain momentum in 2018When it comes to the Calgary commercial real estate market, downtown office space grabs all the headlines.
Just like in sports, where star players occupy the limelight and grinders are often overlooked, the struggles of the downtown office market continue to dominate discussions of commercial real estate, while the industrial sector has quietly weathered the economic storm over the past three years.
News
Jan. 19, 2017 | CREBNow
Poised for growth
Calgary's industrial market shows signs of turning the corner
While Calgary's downtown office sector and its plunging vacancy rates overshadowed all commercial real estate activity in 2016, the city's industrial market has better weathered the storm and is poised to grow in 2017, say experts.
According to Barclay Street Real Estate, vacancy for the industrial real estate sector finished 2016 at 7.76 per cent. It had peaked at 7.8 per cent in the third quarter of the year. In 2015, it was 6.57 per cent.
"Absorption was a negative 127,373 square feet for Q3. This was the only quarter of negative absorption we have had since the '90s," said Jon Mook, executive vice-president of Barclay Street Real Estate's industrial division.
While Calgary's downtown office sector and its plunging vacancy rates overshadowed all commercial real estate activity in 2016, the city's industrial market has better weathered the storm and is poised to grow in 2017, say experts.
According to Barclay Street Real Estate, vacancy for the industrial real estate sector finished 2016 at 7.76 per cent. It had peaked at 7.8 per cent in the third quarter of the year. In 2015, it was 6.57 per cent.
"Absorption was a negative 127,373 square feet for Q3. This was the only quarter of negative absorption we have had since the '90s," said Jon Mook, executive vice-president of Barclay Street Real Estate's industrial division.
News
Aug. 22, 2016 | Mario Toneguzzi
New normal
Calgary's industrial sector showing signs of strain
Calgary's industrial market continues to hiccup along in a weakened economy as vacancy rates have risen over each of the last four quarters and are likely heading toward the bottom of the cycle, said a second-quarter market report by Cushman & Wakefield.
"One positive is that the amount of space under construction has been cut substantially; helping to prevent future jumps in the vacancy rate," read the report.
Calgary's industrial market continues to hiccup along in a weakened economy as vacancy rates have risen over each of the last four quarters and are likely heading toward the bottom of the cycle, said a second-quarter market report by Cushman & Wakefield.
"One positive is that the amount of space under construction has been cut substantially; helping to prevent future jumps in the vacancy rate," read the report.
News
May 04, 2016 | Mario Toneguzzi
Brunt of the 'turn
Commercial vacancy rates near all-time highs, according to reports
A new report is summarizing Calgary's downtown office market in one word: scary.
CBRE Ltd. first-quarter results released earlier this month show that the vacancy rate in Calgary's core ballooned to 20.2 per cent during the first quarter of 2016. That's up from 11.8 per cent the same time last year, and 17.6 per cent from the fourth quarter of 2015.
Greg Kwong, who heads up the commercial real estate firm CBRE Ltd's office in the heart of the oilpatch, expects the worse is still to come for Calgary's office market as the local economy sputters in response to depressed oil prices.
A new report is summarizing Calgary's downtown office market in one word: scary.
CBRE Ltd. first-quarter results released earlier this month show that the vacancy rate in Calgary's core ballooned to 20.2 per cent during the first quarter of 2016. That's up from 11.8 per cent the same time last year, and 17.6 per cent from the fourth quarter of 2015.
Greg Kwong, who heads up the commercial real estate firm CBRE Ltd's office in the heart of the oilpatch, expects the worse is still to come for Calgary's office market as the local economy sputters in response to depressed oil prices.
News
April 15, 2015 | CREBNow
Cautious commercial
Calgary's core office market could see vacancy increases that endure even after a recovery in oil prices
According to a new report from commercial real estate firm Cushman and Wakefield, the negative effects of the drop in oil prices could remain for up to a year after a rebound.
"Although the brunt of the declining oil price was felt in Q1 2015, it is expected that negative absorption will continue throughout 2015," said the report.
"Net rates will drop in the CBD (central business district), while the suburbs will be impacted to a lesser extent. History would suggest that we can expect tenants to begin taking back space once oil prices strengthen and the market regains confidence."
According to a new report from commercial real estate firm Cushman and Wakefield, the negative effects of the drop in oil prices could remain for up to a year after a rebound.
"Although the brunt of the declining oil price was felt in Q1 2015, it is expected that negative absorption will continue throughout 2015," said the report.
"Net rates will drop in the CBD (central business district), while the suburbs will be impacted to a lesser extent. History would suggest that we can expect tenants to begin taking back space once oil prices strengthen and the market regains confidence."
