Rental rates fall 17% in downtown Calgary office market
The depressed oil economy has sent rental rates in Calgary’s downtown office market spiralling by 17 per cent over the past year, says commercial real estate firm JLL. Its third-quarter report said the average asking net rent fell $20.75 per square foot, almost half the $40.01 peak of 2007 and 2008, with higher-end space the hardest hit. “Since the [...]