Calgary experiences an overall drop in availability, driven by relocation and expansion activity
Calgary office leasing activity surged in Q3 2026, reaching 1.5 million square feet (msf), the highest quarterly total in nearly three years and well above the five-year quarterly average. Downtown Calgary was the primary focus of activity, accounting for approximately 1.3 msf of transactions. Several energy companies returned to expansion mode and signed multi-floor leases as confidence in Canada's energy sector, particularly in Alberta, continued to improve. Although a handful of companies downsized, the downtown market recorded a net gain in occupancy, providing positive momentum heading into the final quarter of the year.