Calgary boasts a strong commercial office, industrial and retail market. In fact, according to the Investment Property Databank, in 2012 Calgary produced the highest returns for commercial real estate out of 60 international cities. Calgary’s strong economy has fueled commercial real estate growth for the region. The average age of Calgary’s office buildings is the youngest of any major Canadian city, which offers benefits such as efficient building systems, high environmental standards and state of the art design with high efficiency leasing.
Calgary offers 124 million square feet of industrial space, generally located in the South East and North East quadrants of the city. This inventory is composed mainly of transportation, logistics and manufacturing facilities. There are significant energy efficiencies and building design and site amenities to accommodate current warehousing standards and transportation equipment needs.
The City of Calgary and Calgary Economic Development understand the importance of a streamlined and efficient permit approval process, and have established cutting edge tools to facilitate projects and their approvals through The City of Calgary – Development and Building Approvals Business Unit. Unlike most jurisdictions with competing regions and towns in the metropolitan area, the city of Calgary (covering an area of approximately 14 miles by 20 miles) is under a single governing authority with common land use and building permitting regulations and procedures. This is a major advantage as businesses can easily compare location options throughout the city.
The strong commercial building industry in Calgary makes it an ideal place to build in. Contact Devitt & Forand for more information on how we help our clients choose the best location and determine an appropriate budget for development.