Figures

Calgary Suburban Office Figures Q3 2026

Suburban market vacancy rate reaches lowest level since 2014

October 15, 2026 5 Minute Read

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  • The suburban market maintained its strong momentum in Q3 2026 with a vacancy decrease of 100 basis points (bps). The year-to-date net absorption of 935,000 sq. ft. puts the market on pace for one of the strongest years of growth ever recorded.
  • Growth was driven primarily by small and mid-sized transactions in Q3 2026. Options under 5,000 sq. ft. remain the most in demand, with available options in this size range falling by 19.5% year-over-year.
  • Q3 2026 saw the completion of the conversion of Joffre Place’s from office to residential use, with rental suites now available for occupancy. The building is the first conversion to be completed in the Beltline as part of the City’s Downtown Office Conversions program.
  • All submarkets experienced positive net absorption in Q3 2026 except for the South Central submarket. The Northeast experienced the largest positive net absorption of all submarkets at 99,000 sq. ft.