Alberta Commercial Real Estate

Commercial properties are properties that are either leased or bought, and are solely used for business purposes. The commercial properties market in Alberta remains strong, even as global and US markets threaten to affect the Canadian real estate market.

Alberta has seen a consistent uptrend in its industries, with an economic growth of 6.8% in 2007. It has a competitive business environment with its low taxes and fiscal responsibility policies, partly through persistent management of its Canadian regulators. Alberta’s local government strives toward sustainable growth -- its 20-year infrastructure plan is testament to this. Many Canadian real estate industry leaders do big business in Alberta, including Mainstreet Equity Corp., Boardwalk, and Genesis Land Development Corp.

This robust economic environment translates to a steady competitive commercial properties market.

Commercial property in Calgary’s financial district averages between $21 and $30 per sq. ft for Class A business properties, and $10 and $20 per sq. ft. for Classes B and C properties. In Calgary’s suburbs, rates for Class A commercial property range from $17 to $19 per sq. ft. and from $11 to $16 per sq. ft. for other property classes. Prices are in the same range for Alberta’s other major business center, Edmonton.

A major development in Alberta’s commercial properties market is the StoneGate Landing project of the WAM Development Group. This project will span 1,100 acres of Calgary’s prime land. Within eight years, the space will be developed into a commercial mecca, with sustainable building designs, and magnificent scale and access. This is forecasted to surge Alberta’s commercial property market through the roofs.

Interested to know more about commercial property options in Alberta? Click Here.