Triple-net (NNN) structures with operating cost recoveries and property tax pass-throughs.

  • Typical lease length: 10 years.
  • Typical rent-free: 18 months.
  • Vacancy: 28.4%; trend softening.
  • Triple-net (NNN) structures with operating cost recoveries and property tax pass-throughs.

Calgary office lease norms

Triple-net (NNN) structures with operating cost recoveries and property tax pass-throughs.

TL;DR

  • Typical lease length: 10 years.
  • Typical rent-free: 18 months.
  • Vacancy: 28.4%; trend softening.
  • Triple-net (NNN) structures with operating cost recoveries and property tax pass-throughs.

Structure

Triple-net (NNN) structures with operating cost recoveries and property tax pass-throughs. 5-10 year terms standard. Free rent of 14-20 months and TI of CAD 60-90/sqft typical on a 10-year Class A deal. Most generous concession environment in major Canadian markets.

Negotiating levers

Free rent and TI remain the most negotiable line items; landlords prefer concessions to face-rent cuts because they preserve headline rent and implied valuation. Always model effective rent (face minus PV of concessions).

Key facts

cityCalgary
countryCanada
regionAmericas
classARentLocal32 CAD/sqft/yr
classARentUsd$23/sqft/yr
vacancy28.4%
typicalLeaseYears10
typicalRentFreeMonths18
submarkets5
primeYieldPct7.5%

Frequently asked questions

What's a typical lease term in Calgary?
10 years for institutional Class A. Shorter terms are achievable on smaller floor plates with stronger covenants.
How is rent quoted in Calgary?
In CAD/sqft/year. We also publish a USD-normalised view ($23/sqft/yr) for cross-market comparison.

Editorial provenance

Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.

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