The Calgary real estate market saw a 28% rise in investments from the previous quarter, reaching a significant $925.52 million. However, the actual number of transactions was down by 16%. It would appear that Calgary has been relying more on the bigger investments, 94 of which totalled over $1 million.
Out of all transactions, the office market accounted for the biggest surge, with real estate transactions accounting for $436.7 million. This also saw an upward trend from the previous quarter, going up by approximately 101%. RealNet Canada, an investment analysis firm, commented that Calgary’s commercial real estate market has always been dependant on high-value transactions, and as a result, has tended to fluctuate a lot. In fact, in this quarter, 3 office transactions accounted for 44% of all overall investment. These offices were the Jacobs building ($171 million), Quarry Professional (154.84 million) and SMART Technologies ($78 million).
This year, industrial, commercial and institutional segments accounted for the biggest contributions to investment. They made up approximately 52% of the total market. Office and residential sectors followed with 24% and 8% of the market.
Source: Calgary Herald
Source Link: https://www.calgaryherald.com/business/commercial-real-estate/Investment+Calgary+commercial+real/8806899/story.html
About Lynx Systems Inc.:
Lynx Systems Inc. is a technology consulting company that specializes in assisting real estate companies with their automation needs with a focus on Yardi, MRI and Microsoft SharePoint solutions. Lynx Systems works with clients across Canada and the US to improve productivity and reduce costs by focusing on key processes and by recommending state of the art solutions that streamline operations. Our services include selection, implementation, support, SSRS report writing, training, information architecture and taxonomy, web application development, and branding services, to name a few. https://www.lynxsystemsinc.com
