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Real Estate National Office Market Report - Spring/Summer 2015

Overall Office Vacancy Rates Across Canada Rise to 6.6%

Some of the underpinnings of Canada's economy experienced significant changes in 2014, with the precipitous decline of oil prices and the decline of the currency exchange rate chief among them.

Highlights 

  • Availability rate currently in 16% range in Downtown Core
  • Highly competitive leasing environment brings benefits to tenants
  • Development activity greater than it has been for over a decade

 

Vacancy and availability rates increasing in Downtown Montreal

The steady increase in availability rates continues to be a central story in Montreal's downtown office market. Although vacancy rates for Class "A" and Class "B" properties are now in the 8.6% range, the availability rate-which tracks the office space that may currently be occupied but is nevertheless available for lease or sublet-is substantially higher. In the Downtown Core, for example, the availability rate for all classes of space is at 16%, and 16.4% for Class "A" buildings alone. As recently as mid-2011, the availability rate in Class "A" space in the Downtown Core was only 8.4%.

 

NKF Devencore - Real Estate National Office Market Report - Spring/Summer 2015



Real Estate National Office Market Report - Spring/Summer 2015
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