Go to the Globe and Mail homepage

Jump to main navigationJump to main content

AdChoices
An office space in downtown Calgary sits empty in 2016. More than a quarter of the city’s downtown office space sits empty (Chris Bolin For The Globe and Mail)
An office space in downtown Calgary sits empty in 2016. More than a quarter of the city’s downtown office space sits empty (Chris Bolin For The Globe and Mail)

Office vacancies in downtown Calgary may grow amid oil deals: report Add to ...

Subscribers Only

More than 10 million square feet of Calgary’s downtown office space sits empty, about a quarter of the total stock, and recent deals consolidating oil sands assets are likely to drive further staff layoffs and could exacerbate an already high vacancy rate.

Recent merger and acquisition activity could add to the sublease stock – with a Colliers International Group Inc. report pointing to Canadian Natural Resources Ltd. acquiring Royal Dutch Shell PLC oil sands assets, and Cenovus Energy Inc. buying assets from ConocoPhillips Co.

Report Typo/Error

Follow on Twitter: @KellyCryderman

Also on The Globe and Mail

Carbon price not behind Shell’s oil sands sale: McKenna (The Canadian Press)

Next story

loading

Trending

loading

Most popular videos »

More from The Globe and Mail

Most popular