Calgary Suburban Office Figures Q1 2026

‒    The suburban market continued its strong performance to begin 2026 with a highly active first quarter. All building classes recorded positive net absorption, with Class B inventory leading the way at a substantial 214,000 sq. ft. of net absorption.

‒    During Q1 2026, the Northeast submarket demonstrated the strongest performance, driving net absorption and lowering its vacancy rate to 15.2%. This positive trend was mirrored across all submarkets, with each seeing positive net absorption.

‒    Despite Alberta’s population growth slowing in 2025, it remains the fastest-growing province in Canada. This population growth has had continued positive effects for the suburban office market, with industries that benefit from a larger population base, including construction, social services, and education being the primary drivers of growth.

‒    The gap between suburban and downtown vacancy continues to widen, with the difference hitting 1290 basis points (bps), the largest ever recorded in Calgary. Increased sublease space in the downtown market could result in increased competition against Beltline properties.