This Week in Calgary CRE

Concert Properties and Brookfield have announced a joint venture involving an eight-property Canadian industrial portfolio totaling approximately 5.3 million square feet and valued at roughly $1 billion. The portfolio includes assets in major markets such as Calgary, Vancouver, Toronto and Ottawa. The transaction is another signal that large institutional investors continue to view well-located industrial real estate as a long-term investment priority. Fully leased assets wit

Construction is now underway on the Everwild Harmony Nordic Spa & Hotel, a major wellness and hospitality development located in the community of Harmony, west of Calgary. The project will bring a year-round wellness destination to the region, featuring thermal pools, saunas, accommodations, dining amenities, and lakefront experiences designed to attract both local visitors and tourism traffic. Beyond the wellness component, developments like this highlight how experiential d

The April CFIB Business Barometer highlights a sharp escalation in cost-related concerns, with fuel and transportation pressures rising rapidly over a short period. Concern over fuel costs rose to 74%, up from 36% in February. Shipping and receiving costs increased to 45%, up from 26% over the same period. The pace of change underscores how quickly operating conditions are tightening for small businesses. These trends point to renewed margin pressure across multiple sectors,

Armco Capital is moving forward with the acquisition of Stephen Avenue Place and two neighbouring retail assets in downtown Calgary, continuing its expansion in the core. The 40-storey Stephen Avenue Place office tower and two adjacent retail buildings are currently under receivership. Since late 2023, subsidiaries associated with G2S2 Capital have assembled close to 3 million square feet of office space, with this acquisition expected to bring the total to approximately 3.6

Major grocery chains are seeing flat sales growth, while regional and specialty grocers continue to expand. At the same time, brands like T&T Supermarket, already active in Alberta, highlight how culturally focused and specialty formats are gaining traction across Western Canada. Consumers are becoming more price-sensitive and selective Growing demand for ethnic, fresh, and specialty grocery options Independent and regional grocers expanding into neighbourhood-scale retail

Recent data indicates a structural shift in Calgary’s residential market, with sales activity moderating and inventory levels increasing. Activity levels remain in line with historic norms, though the pace of transactions has slowed compared to prior periods. Increased listing activity is contributing to improved product availability across multiple housing segments, with condo inventory leading the increase in supply. Home sales declined year-over-year New home completions

A proposed $10B data centre development in Olds is moving forward again after resetting its regulatory application.The project remains in early-stage review with the Alberta Utilities Commission. Developer plans to reapply to the AUC following closure of the initial submission Updated application to include additional technical detail and community engagement Proposal includes a data centre campus supported by an on-site natural gas power plant Represents a multi-phase, large

Toys “R” Us Canada is preparing to close additional stores while seeking court approval to pursue a sale of the business. The move reflects ongoing pressure in the large-format retail segment, particularly as consumer spending patterns continue to shift. These developments highlight continued disruption in the big-box retail sector. For commercial real estate, this creates both risk and opportunity, with potential vacancy in large-format spaces, but also repositioning opportu

Canada’s population posted a quarterly decline for the first time in decades, reflecting a slowdown in immigration alongside fewer non-permanent residents entering the country. Recent federal policy adjustments have reduced intake targets, while tighter conditions around study permits and temporary residency are beginning to impact overall population growth. The shift follows several years of rapid expansion that had been supporting labour force growth and housing demand. For

Recently released 2024 data from Statistics Canada highlights the scale and momentum of interprovincial trade in manufactured and wholesale goods—with Alberta emerging as a key contributor. Alberta recorded the largest year-over-year increase in interprovincial wholesale trade, rising +$10.1 billion The province also saw a +$2.1 billion increase in manufactured goods sales, among the highest nationally Wholesale trade flows between Ontario and Alberta grew by $6.9 billion (+5

Mount Royal University is set to anchor a new transportation and logistics initiative aimed at strengthening Calgary’s role in regional and global supply chains. A joint investment from multiple government funding partners will support the creation of the Alberta Logistics Centre of Excellence. The initiative is expected to deliver workforce training, generate new skilled employment, and provide direct support to local businesses navigating supply chain and operational challe

Calgary council has voted 10-1 in support of a business-friendly construction policy aimed at addressing the disruption and revenue loss businesses can face during city-led construction projects. Rather than centring on direct compensation, the policy shifts toward strategies that help businesses stay visible, accessible and supported throughout construction, with the goal of encouraging continued customer patronage during periods of disruption. This approach reflects a broad

The March CFIB Business Barometer shows a modest decline in overall business confidence, despite this pullback, hiring intentions remain in positive territory: 19% of businesses plan to hire, compared to 13% planning layoffs, maintaining net-positive employment expectations. Hiring sentiment has improved relative to much of 2025, when layoffs often outpaced hiring. The March confidence dip reflects renewed caution, particularly tied to demand uncertainty and ongoing cost pres

A unique conversion in Kansas City is highlighting the next evolution of adaptive reuse—repurposing obsolete assets for data infrastructure. A former printing facility is being repositioned for a small-scale, urban data centre—typically requiring 30 to 50 megawatts of power—supporting growing demand for low-latency, inference-based AI systems. As cities look to backfill vacant or underutilized buildings, these conversions offer a pathway to restore economic function. For occu

Ranchman’s Cookhouse & Dancehall will be relocating from its long-standing Macleod Trail S. location, opening the door for a new phase of redevelopment on the property. The transition reflects broader change along this established south Calgary corridor, where older entertainment and retail sites are being reconsidered for more intensive, mixed-use formats. Early concepts for the property indicate a residential-led project designed with active ground-floor commercial space an