- The Calgary downtown office market recorded 153,402 sq. ft. of negative absorption during Q2 2018, increasing vacancy by 30 basis points to 27.8%.

- Vacancy in Class AA product has declined to 20.8%, while Class A, B, and C product continues to struggle at 24.5%, 41.2%, and 32.9%, respectively.

- Companies that do relocate are trading up to better quality product.

- Other companies continued to downsize and put significant product on the sublease market. A few companies densified via more open plan space and added additional vacant product as a result.

- There was an increase in lease/subleasing activity in Q2, including 11 transactions over 20,000 sq. ft.