Calgary commercial vacancies rising sharply

A report from real estate firm Avison Young shows that Calgary’s commercial vacancy rate is climbing.

According to the firm, the rate was 11.5 per cent across all commercial property types in the second quarter of 2015, with downtown vacancies at 10.7 per cent (up from 8.3 per cent a year earlier).

The report says that a scaling back of requirements by the energy sector is one factor for this change in the Calgary market, while the new NDP provincial government’s proposals to review royalties and environmental policies is also making businesses nervous. 
 

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