Calgary office space rents dropping fast, 5th most expensive in the country
DH Calgary StaffDec 17, 2015 12:05 pm
The spillover effect from low oil prices has taken its toll on Calgary’s once booming office market. With office vacancies on the rise the average rents have dropped drastically over the past year.
According to a recently released report by real estate company JLL Canada, the average rent on 8th Avenue has plummeted to $45.60 per square foot per year. This represents a decline of 24.5 per cent from from the previous year. In 2014, the average rent on 8th Avenue was $59.06 per square foot.
Most expensive streets for office space in Canada:
Bay Street, Toronto $68.19 per square foot
Burrard Street, Vancouver $52.72 per square foot
Queen Street, Ottawa $49.34 per square foot
Levesque Blvd, Montreal $48.28 per square foot
8th Avenue, Calgary $45.60 per square foot
101st Street, Edmonton $40.46 per square foot
Upper Water Street, Halifax $36.76 per square foot