Dynamic retail growth drives leasing activity in Calgary's suburban areas
Share of leasing activity by location in 2023
Share of leasing activity by location in 2023
- Leasing velocity surged across various retail types in 2023, as evidenced by our retail team's lease data with a total of 151 leases completed in 2023, demonstrating robust momentum in Calgary’s suburban retail districts.
- In the post-pandemic era, auto-focused suburbs have experienced a rapid increase in activity. Quick-service restaurants and grocery stores continue to dominate essential retail. Street-front retail in Downtown and Beltline (with the exception of primary corridors, such as 17th Avenue SW and 4th Street SW) is experiencing a slower recovery rate.
- This dynamic activity is particularly pronounced in the burgeoning Southeast communities such as Seton and Mahogany, as well as in the Northwest areas like the new University District and Creekside. The convenience and accessibility of retail are increasingly driving consumer motivation as these new communities expand and provincial migration accelerates.
June 6, 2024
