Figures

Edmonton Office Figures Q2 2026

Office market hits record low sublease availability

July 13, 2026 5 Minute Read

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  • The Edmonton office market recorded 35,000 sq. ft. of positive net absorption in Q2 2026, contributing to a 10 basis points (bps) decline in vacancy.
  • While leasing activity remains measured, elevated construction costs have lengthened deal timelines and shifted tenant priorities towards, built-out, turn-key spaces. Rising tenant expectations is driving demand for modern, amenity‑rich, high‑quality space, increasing pressure on landlords to maintain competitive, upgraded buildings.
  • The Downtown submarket recorded a strong quarter with a vacancy rate decline of 50 bps. The flight-to-quality trend persisted in the Financial submarket with Class AA and Class A vacancy decreasing by 180 bps and 90 bps, respectively, this quarter.
  • Downtown sublet vacancy has declined for five consecutive quarters and fell by 55.7% in Q2 2026. With just over 97,000 sq. ft. currently available, this marks the first time since Q4 2012 that the downtown sublet total has dropped below 100,000 sq. ft.