Quote:
Originally Posted by caltrane74
Unless someone plans on playing volleyball or dodgeball in an office 20 floors up, the space has to come from somewhere. Preleased or not, and it doesn't take a mathematician to figure that out.
Office space doesn't disappear into thin air, office workers don't burst into existance.
When the Bow comes online, vacancy will go up.
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Yes it will go up by 400,000 sq ft which is precisely how much space that Encana currently occupies that to this day that has not been re-leased. Nobody will be playing dodgeball in empty floors, the fine employees of CNRL, Apache and others who have already leased the "vacancy" will be occuping it.
Its not unreasonble to suggest that vacancy might stablize or perhaps tick up slightly, but for it to return to 10% as you suggest isnt going to happen. In a market of 38 million sf, that would suggest that over a million sf will become vacant in the next 12 months at the same time Calgary is experiencing record activity.