Investment sales balloon to $824 million for Calgary commercial real estate

Overall investment sales in the commercial real estate market in the Greater Calgary area rose by 13 per cent to $824 million in the second quarter of this year, says a report released Monday by RealNet Canada Inc.

The report said there were 98 transactions over $1 million in the market.

“Consistent deal velocity in the Greater Calgary market has created a proportionally steady environment throughout the last year,” said Paul Richter, director of research at RealNet.

A number of factors are in play in the Calgary market that contribute to the overall numbers each quarter. Low interest rates bring the cost of ownership down while larger industrial condo bays offer more options for growing businesses. The growth in Calgary also creates a desire for high quality, high value assets by local and national investors.

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