Canadian Office Space Market - Page 16

TallBob · #**301** Posted **Jan 18, 2012, 9:44 PM**

Well, the fact that Oil's conservative view is $80-85. Heck, Nat Gas is up and will probably hang around over $4. I don't think prices are going to vary much which will keep things "stable". Each one of these Boom and Bust cycles becomes a little less dramatic (ups and downs) than the prior one. In Alberta's case it's probably safe to assume that the economy is expanding in different areas and not just O&G, and that's a good thing. That oil will be gone someday, I just hope Government & buisness realize that oil won't be there forever. Just my 2 cents.

Calgarian · #**302** Posted **Jan 18, 2012, 10:02 PM**

The price of Natural Gas is actually in the toilet right now, I wouldn't count it as a factor in the boom in Calgary.

240glt · #**303** Posted **Jan 18, 2012, 10:23 PM**

Enbridge is sucking up vacant space in Edmonton like crazy right now. By the spring they should be occupying 35+ floors of CBD space with a rumour that they could be going on another hiring spree shortly in Edmonton

Surrealplaces · #**304** Posted **Jan 18, 2012, 10:38 PM**

Quote:

Originally Posted by LeftCoaster

^Not likely. There is nothing in the pipeline with that kind of height.

Still should result in a couple significant buildings.

Agreed. We won't likely see anything significant buildings other than the ones already discussed EAP II, Centennial III, CCC or Brookfield. I believe EAP will go ahead as they claim, but which one(s) of the other three it's hard to say. I'm hoping for CCC.

GSS · #**305** Posted **Jan 18, 2012, 10:53 PM**

Quote:

Originally Posted by LeftCoaster

Just a little update too, official numbers have not come out yet but AA vacancy in Calgary has now hit 1.5% which is more or less 0 for any large block users.

For all intents there are no contiguous blocks of space >50,000sf available.

Expect to see A LOT of movement on the office development front.

Unbelievable, I didn't expect to see anything for Calgary for another 5 or 10 years. Calgary is on fire!

Calgarian · #**306** Posted **Jan 18, 2012, 10:57 PM**

Quote:

Originally Posted by GSS

Unbelievable, I didn't expect to see anything for Calgary for another 5 or 10 years. Calgary is on fire!

With all the exhaust coming out of the buildings visible due to the extreme cold, it actually looks like Calgary is on fire. lol

WhipperSnapper · #**307** Posted **Jan 18, 2012, 10:59 PM**

Quote:

Originally Posted by Surrealplaces

There's little difference from Devon's OKC tower and EAP, definitely nothing obvious. A better argument for Whippersnapper would have been to use 300 N LaSalle in Chicago as a comparison.

300 N Lasalle has more in common with Devon than EAP. Go to post #1141 in the Devon Tower thread. It's the little differences that count. Aside from that, they are both glass towers. EAP's podium is not a parking garage but, it's over designed, diminutive, and awkward.

LeftCoaster · #**308** Posted **Jan 18, 2012, 10:59 PM**

Quote:

Originally Posted by Surrealplaces

Agreed. We won't likely see anything significant buildings other than the ones already discussed EAP II, Centennial III, CCC or Brookfield. I believe EAP will go ahead as they claim, but which one(s) of the other three it's hard to say. I'm hoping for CCC.

CCC is almost assuredly a go, expect to hear definitive confirmation within the next couple months. At this point it would take a major event to derail it.

My next bet would be Centennial III which I am also quite sure will go ahead within the next 12 months, although this one is slightly less certain than CCC.

Brookfield's project is still a coin toss due to its size and preleasing requirements as well as a few tricky encumbrances the site has to deal with in order to move forward.

WhipperSnapper · #**309** Posted **Jan 18, 2012, 11:06 PM**

No one actually invested in the national office market would have imagined it being in the shape it is in. Each market has multiple major buildings that have or should break ground some time this year. Actually, many question if we would be seeing a nationwide commercial boom were it not for the world lending market collapse.

Wooster · #**310** Posted **Jan 19, 2012, 1:55 AM**

Quote:

Originally Posted by WhipperSnapper

EAP's podium is not a parking garage but, it's over designed, diminutive, and awkward.

I disagree. EAP's podium is beautiful. Great street presence.

Ayreonaut · #**311** Posted **Jan 19, 2012, 2:07 AM**

Quote:

Originally Posted by Wooster

I disagree. EAP's podium is beautiful. Great street presence.

I love walking past EAP, especially at night. It's a stunning podium; one of the best in the city.

240glt · #**312** Posted **Jan 19, 2012, 3:06 PM**

New office towers seen on horizon

Lewis Kelly
Edmonton Journal

Thursday, January 19, 2012

An increasingly tight office-space market in Edmonton will spark the announcement of two major new buildings this year, according to John Ross, managing director with Avison Young's local office.

"My view is that we'll see one or maybe two new office projects announced, probably toward the end of this year, because the demand is going to be there."...

lkelly@edmontonjournal.com Twitter.com/LewisHKelly

© Edmonton Journal 2012

http://www2.canada.com/components/pr...1c577&sponsor=

Me&You · #**313** Posted **Jan 19, 2012, 3:09 PM**

Quote:

Originally Posted by 240glt

New office towers seen on horizon

Lewis Kelly
Edmonton Journal

Anything in the rumor mill that points to what these towers might be?

SHOFEAR · #**314** Posted **Jan 19, 2012, 3:22 PM**

Quote:

Originally Posted by Me&You

Anything in the rumor mill that points to what these towers might be?

Manulife 2 seems to be the most legit.

Coldrsx · #**315** Posted **Jan 19, 2012, 4:48 PM**

Concur. Manu 2 is surely the leader for many reasons.

I would also consider Melcor's Tower and or Bell 2 by Katz. Stationlands 2 could also be in the mix.

Melcor

(http://i.imgur.com/9ROoC.png)

240glt · #**316** Posted **Jan 19, 2012, 5:16 PM**

Bell 2 is a possibility but it won't be by Katz... They have no option on that lot right now

Coldrsx · #**317** Posted **Jan 19, 2012, 5:17 PM**

Well Oxford sure doesn't seem to want to touch Edmonton...

Tarsus · #**318** Posted **Jan 19, 2012, 5:20 PM**

I would strongly disagree. Have you seen the EAP's podium in person? It's much nicer than the podium on the Devon tower. As far as the small details such as the mullion caps, nobody can actually see those. IMO the ones on EAP aren't significantly different. If they are, they aren't visible.

Quote:

Originally Posted by WhipperSnapper

300 N Lasalle has more in common with Devon than EAP. Go to post #1141 in the Devon Tower thread. It's the little differences that count. Aside from that, they are both glass towers. EAP's podium is not a parking garage but, it's over designed, diminutive, and awkward.

Tarsus · #**319** Posted **Jan 19, 2012, 5:22 PM**

Manu 2 makes sense. It's a nice looking building, so hopefully that's the one that goes.

Quote:

Originally Posted by Coldrsx

Concur. Manu 2 is surely the leader for many reasons.

I would also consider Melcor's Tower and or Bell 2 by Katz. Stationlands 2 could also be in the mix.

240glt · #**320** Posted **Jan 19, 2012, 5:23 PM**

Quote:

Originally Posted by Coldrsx

Well Oxford sure doesn't seem to want to touch Edmonton...

There were many factors to the Bell/10235 sale

Staples lot is still recognized as prime redevelopment land

Just waiting to see how the arena fleshes out is my guess