Office Vacancy Rates Across Canada Continue to Track Below 5%
There were some surprises in the Conference Board of Canada's mid-2013 overview of the country's economy. Driven by a boom in oil production and resource development, the province of Newfoundland and Labrador is now leading the way in terms of real Gross Domestic Product (GDP) growth, with 6% growth forecast for this year and 3.4% growth estimated for 2014, outstripping all other provinces in Canada.
- Downtown Montreal office vacancy rates edge up to 6.2%
- Considerable behind-the-scenes activity
- Some tenants seeking early lease restructurings
Vacancy rates edge upwards in Downtown Montreal
The most interesting story regarding downtown Montreal's real estate landscape concerns the amount of activity taking place behind the scenes. Two new office towers are under construction, and some other developments are either getting underway or are in the pre-leasing stages.
NKF Devencore - Real estate national office market report - Montreal - Fall/winter 2013