Renting: Downtown Office Space
Updated August 1999
Downtown Edmonton has see a significant inccrease in new development in 1999.
About $372 million in new construction and renovations have been announced
split 1/3 residential, 1/3 hotel & retail, and 1/3 office/commercial projects.
The overall vacancy rate for downtown was 14.4% in June 1999, down from 15.7%
a year ago. Class A vacancy dropped, while Class B and C vacancy rose slightly.
Downtown Office Vacancy & Net Rental Rates
Class |
Net Rentable Area (Sq.Ft.) |
Total Vacancy |
Vacancy Percentage |
Net Rental Rates |
Downtown A |
5,985,685 |
608,479 |
10.2% |
$8 - $10 |
Downtown B |
2,565,709 |
450,398 |
1736% |
$5 - $7 |
Downtown C |
903,304 |
232,380 |
25.7% |
$2 - $4 |
Government A |
1,313,549 |
245,660 |
18.7% |
$6 - $8 |
Government B |
3,079,125 |
348,450 |
11.3% |
$4 - $6 |
Government C |
411,316 |
140,101 |
34.1% |
$2 - $3 |
|
