From strategic acquisitions (and) year-over-year increases in both rental and occupancy rates, to the opening of Canadian Tire in the company’s first urban location in the Beltline, 2018 proved to be a success for First Capital Realty in Calgary.
From a market perspective, 2018 was an interesting year, where the retail market remained strong and we witnessed a slowdown in the residential markets. This has led to increasingly important joint-venture partnerships.
Moving into 2019, I believe the market will see a continued interest in those partnerships, inevitably leading to larger and more creative projects. The retail market will remain strong in 2019, with a trend towards increasing rents and occupancy, especially in prime locations such as the Beltline.”