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Oil-price crash brings towering woes in Canada

Office-tower owners hit as vacancy in energy hub is at a five-year high while rents are at the lowest since 2006

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Published Tue, Nov 10, 2015 · 09:50 PM

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    Toronto

    OFFICE-TOWER owners in Canada's energy hub are about to feel the full force of the oil-price crash.

    Vacancy is already at a five-year high in Calgary and rents are the lowest since 2006 after thousands of office jobs were cut. Energy company tenants have now begun to ask for rental relief and are offering subleases for as little as half the going rate, according to real estate brokers including Jones Lang LaSalle Inc and Avison Young Canada Inc.

    Canada

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