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The Flight to Quality in Commercial Real estate

I’m visiting Calgary this week and meeting with clients. One thing that is evident in this market is “The flight to quality” is bringing about a major shift in the industry. There’s a collective desire to bring people back together for collaboration and innovation, driving the demand for flexible, amenity-rich quality workspaces.

Take The Ampersand in downtown Calgary for example… a class A complex featuring three 28 storey towers offering over 1.1 million square feet of space between them. Amenities include a conference centre, fitness centre, indoor food trucks, golf simulator, day care, dog patios and much more!

In a historically tight labor market, the competition to attract and retain top talent remains exceedingly fierce. Thus, companies are recognizing the importance of providing exceptional workplace environments to ensure they remain desirable destinations for skilled professionals.

When searching for new office space, tenants are often conflicted between their desire for shorter, more flexible lease terms that cater to uncertain workplace dynamics, and the availability of the spaces that meet their wants & needs. Quality office space requires capital investment but then inherently, the shorter the lease, the more expensive it is for the tenant. It’s about finding balance and working in partnership with landlord. The landlord/tenant relationship has long been mostly transactional, and at times even adversarial. Fortunately, I’m seeing it more and more become one of cooperation and partnership.

Do you want higher quality workspace for your team? Contact us today…