Sky-high rents. Heavy demand for downtown office space. A magnet for company headquarters. It may sound like Toronto, but this commercial real estate hotspot is decidedly farther west.

Despite erratic markets and a lingering world recession, Calgary's office and commercial real estate market rivals Toronto as the most robust in the country, driven predominantly by the continued growth plans of energy companies.

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“I don't think Calgary likes being compared to Toronto,” he says. “Calgary stands on its own, with an entrepreneurial attitude, a can-do spirit and a culturally diverse, vibrant downtown.” says Joe Binfet, managing director of Colliers International in Calgary.