Figures

Calgary Suburban Office Figures Q2 2026

Major transactions shape suburban market in Q2 2026

July 17, 2026 5 Minute Read

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  • The suburban market continued to build off a strong Q1 in Q2 with a vacancy decrease of 100 basis points (bps). The 694,000 sq. ft. of net absorption so far this year is the strongest first two quarters of net absorption ever seen in the suburban market.
  • Suburban demand for office space is catching up to the high levels of population growth Alberta has experienced in the last several years. The market is quietly at its strongest in a decade and has experienced positive net absorption in 12 of the last 13 quarters.
  • Q2 2026 was highlighted by a new 160,000 sq. ft. lease by Kiewit Corporation at 505 Quarry Park Boulevard SE, the largest suburban office deal in the Calgary market since 2018.
  • The South submarket has experienced the largest net absorption in Q2 2026, with 176,000 sq. ft. and all other submarkets except for the Beltline recorded positive net absorption and decreased vacancy rates.