Office leasing in downtown Calgary slowed, but activity suggests it could match the past three years

Leasing activity in Calgary’s downtown core approached 500,000 square feet in the first quarter of the year. While this level of activity is on the lower end of quarterly leasing seen historically, it does provide a relatively healthy starting block toward reaching 2.6 million square feet of annual leasing in 2025, a measure of activity that has been seen over each of the last three years.