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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
Wednesday, November 11, 2015 - 05:50
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In downtown Calgary, the vacancy rate jumped to 14% in the third quarter, the highest since 2010, according to CBRE Group Inc.

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

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