Sublease availability in Calgary is concentrated in older Class B and lower-tier Class A stock; trophy assets like Downtown Core clear quickly even when the broader market shows 28.4% vacancy.
sublease">Sublease availability in Calgary is concentrated in older Class B and lower-tier Class A stock; trophy assets like Downtown Core clear quickly even when the broader market shows 28.4% vacancy.
In Calgary, sublease availability concentrates in the older Class A and Class B segments — not in trophy product. Vacancy across the broad Class A index is 28.4%; the trophy tier in Downtown Core is structurally tighter.
Subleases trade at a discount, but you inherit the prime tenant's term, get limited or no TI, and live with whatever fit-out">fit-out exists. For occupiers under a 24-month horizon, that tradeoff usually wins. For multi-year HQs, direct deals with rent-free and TI almost always produce better effective economics.
Look for direct deals with the landlord at sublease commencement (a "bypass" structure) — landlords will sometimes write a fresh long-term lease to take a problem space off the prime tenant's books. 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.
| city | Calgary |
|---|---|
| country | Canada |
| region | Americas |
| classARentLocal | 32 CAD/sqft/yr |
| classARentUsd | $23/sqft/yr |
| vacancy | 28.4% |
| typicalLeaseYears | 10 |
| typicalRentFreeMonths | 18 |
| submarkets | 5 |
| primeYieldPct | 7.5% |
Reviewed by Class A Atlas Editorial Desk — House byline · global editorial team. Last updated 2026-04-15. See our methodology and editorial standards.