Have you ever wondered how the Calgary office market is bouncing back in a world where remote work and “work-from-anywhere” have stormed in? If you’re managing a business, looking for workspace, or simply curious about how commercial real estate is evolving in this city, stick with me. I’m going to take you through the recovery of the office sector here in Calgary, highlight how coworking in Calgary is playing a starring role, and promise you’ll walk away with actionable insights—to help you decide whether it’s time to lease, invest, or adapt your workspace strategy.

What’s Going On with the Calgary Office Market Recovery?

The Big Picture – Office Recovery Calgary

The term office recovery Calgary might sound like we’re simply waiting for things to return to “normal.” But the reality? It’s far more dynamic. According to recent research, Canada’s office market is “near the bottom” of its downturn—and the major shift now is about what the future of work looks like, not just a return to the past.

In Calgary, for instance:

• The office market posted three consecutive quarters of positive net absorption in 2023, marking the strongest performance since 2014.
• Vacancy rates remain elevated in some segments, but the downward pressure on supply and slow new construction are helping stabilize the situation.

So, when I say “recovery,” I don’t mean everything’s back to how it was in 2019. Rather, we’re entering a new chapter—where quality, flexibility and adaptability are taking precedence.

Why Calgary? What Makes This City Stand Out

Calgary has several factors working in its favor:

• A diversified economy: While historically tied to oil & gas, Calgary’s attracting tech, film, e-commerce and professional services.
• Strong livability and infrastructure: The city ranked as one of the most liveable globally, and has transit, walkability, and amenities which matter when asking people to come into an office again.
• Available inventory combined with opportunity: Some older office space is being repurposed (which we’ll talk about later), and new demand models (like coworking) are filling gaps.

All of this means that if you’re thinking of entering the office leasing Calgary arena now, you’re not fighting for scraps—you’re getting ahead of the curve.

The Rise of Coworking in Calgary

Coworking in Calgary — What’s the Deal?

Let’s face it—“coworking in Calgary” used to be niche. But now? It’s becoming mainstream. One article noted: “co-working spaces … are expanding across the city at what feels like an exponential rate.”

Not only are they growing, but the appeal is changing:

• Startups, freelancers, and remote workers were the early adopters.

• Now medium‐sized companies, satellite teams, and even larger firms are looking for agile space options.

• According to a guide on shared office options in Calgary: “The city has embraced the shift… accommodating changing work patterns and an increase in professional collaboration.”

Flexible Office Space Calgary — Why It Matters

Here’s why flexible/flexible workspace matters:

• Shorter lease terms: Less risk, more agility.

• Shared amenities: Lower overhead for tenants.

• Locations that favour accessibility and community over “only downtown tower” thinking.

• For landlords and real-estate folks, it means older or under-used space gets a second life, rather than being vacant.

According to the 2024 Canadian flexible office market report:

• The value of the market grew, driven by hybrid work models.
• In Canada, the share of flexible/flex office space is estimated to reach values into the USD 1 billion+ range by 2029.

For Calgary, the upshot? You can’t ignore coworking or flexible space when you’re looking at the office market in Calgary. It’s now part of the story, not a side note.

What This Means for Stakeholders (Tenants, Investors, Landlords)

Advice for Tenants in the Calgary Office Market

If you’re looking for space now, consider:

• Flexibility in lease term: Don’t lock yourself into 10 years if your business is still evolving.

• Location matters: Not just “downtown,” but requirements like transit, amenities, parking, and hybrid access count.

• Quality counts more than quantity: A smaller, premium space may out-perform a large, dated one.

• Consider coworking/flex space options: Especially if your team size or footprint is uncertain.

• Negotiate for build-out allowances or entry incentives: Market conditions give you a bit more leverage right now.

Advice for Investors and Landlords

From the viewpoint of someone like us in the real-estate business:

• Recognise that older, Class B or C buildings without amenities are under pressure. The rise of coworking and flexible office solutions means you’ll need to upgrade or repurpose.

• Consider mixed-use conversions or flex-space models if traditional tenants are scarce.

• Focus on “experience” – modern lobby, tech-ready infrastructure, wellness amenities.

• Location isn’t just “the address”—it’s “the ecosystem”. Properties near transit, retail, coworking hubs, etc will perform better.

• Monitor supply pipeline: With limited new tower supply, existing quality space has upside if managed well.

How to Navigate the Office Market in Calgary Right Now (Action Plan)

Step-by-Step for Tenants

1. Assess your current and near-term team size and hybrid model: how many days in office? How many remote?

2. Decide how flexible you need to be: Will your headcount increase/decrease? Do you need meeting rooms/shared space?

3. Set your budget and know what you really need (commute, parking, amenities, location).

4. Visit multiple formats: traditional lease in a tower, flexible space, coworking.

5. Consider negotiating: ask for incentives, ask for shorter leases with extension options.

6. Factor in “experience”-elements: Will employees want to come to the office? If yes, make it appealing.

7. Review exit and expansion options: If business changes, you don’t want to be stuck.

Step-by-Step for Investors/Landlords

1. Review your building stock: class, amenities, lease expirations.

2. Identify parts of your portfolio underperforming due to outdated design or tenant demand shifts.

3. Explore adaptive reuse: Can you convert some space into flexible/ coworking format? Or mixed-use?

4. Invest in upgrades: HVAC, lounge, wellness amenities, tech infrastructure are no longer optional.

5. Market aggressively to flex operators and coworking firms: they’re actively looking for space in Calgary.

6. Monitor macro trends: interest rates, sector shifts, supply pipeline (which is limited right now).

7. Position your asset for the next tenancy wave: companies are coming back—but differently.

Myth-Busting & Friendly Banter (Because we all need a laugh)

• Myth: “The office is dead.”
  Reality: Lots of workers are remote, but many firms still want a physical hub—for culture, for collaboration, for client face-time. Calgary’s numbers prove that positive absorption is happening.

• Myth: “Coworking is just for freelancers and hip startups.”
  Reality: Medium and larger companies are now in the mix. Word like “flexible office space Calgary” is not just buzz—it’s real.

• Myth: “You should wait until things ‘settle’ before leasing.”
  Reality: Waiting may cost you opportunities—better to act with strategy than to sit on the sidelines.

Forecast & What to Watch in the Calgary Office Market

We’re not talking crystal-ball predictions, but based on current signals:

• Expect gradual improvement (rather than immediate spike) in occupancy and leasing activity. The bottom may have been hit.
• Flexible and coworking space options will continue to gain share of the total office market footprint.
  
• Quality space (amenities, location, tech-ready) will outperform older, less cared-for stock.
  
• Adaptive reuse of under-utilised office buildings into residential or mixed-use will likely increase in Calgary.
  
• Investors and landlords who adapt will benefit; those who stay rigid may lag behind.
  
• For tenants: hybrid models will become standard, meaning your “office” might be 2–3 days in office, 2 at home, 1 meeting hub somewhere.

Why This Matters for You

If you’re looking for space, investing in office real estate, or simply keeping tabs on Calgary’s commercial scene: the Calgary office market is changing—but in a good way. As we navigate recovery, flexibility, and redefinition of “office,” you have an opportunity.

At Jai Chaudhary Real Estate, we understand that it’s not just about four walls and a roof—it’s about how that space supports your business goals, your employees, and the future you’re building. Whether you’re a startup, a mid-sized firm, or a real-estate investor, I’d say: now’s the time to engage, not sit on the sidelines.

If you take away one thing from this blog: in Calgary—location, flexibility and future-ready design beat size and tradition. Lease smart, invest smart, adapt smart. And hey—if you’d like help navigating this journey, you know who to call (that’s me).