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Return to work policies continue to fuel higher leasing activity relative to two years ago
Much like last quarter, Calgary has continued to see a general rise in demand and leasing rates across both building quality and location. Labour Day in Calgary marked a point for many local businesses to pivot away from work from home policies to either hybrid or office-based workplace strategies. This has led many businesses to examine their current office inventory and seek changes to support their employee needs. As a result, availability has decreased and average asking rental rates have risen across the Calgary market. However, this demand is not equal across all office buildings as Class A buildings with multiple amenities have become highly sought-after. This flight to quality is tied to businesses looking to incentivize their employees to come back to the office by offering them the best space available.