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Real Estate Office Market Report - Fall 2016

Downtown Montreal in Midst of Transformation

Montreal is in the midst of an unprecedented transformation. There are more new office projects under development in the downtown area now than at any time in the past 15 years. Condo construction is also proceeding at an accelerated pace, as young professionals seek to live and work in the downtown core. Additionally, major infrastructure work-from a new Champlain Bridge to a complete rebuilding of the city's major arteries, Robert-Bourassa Boulevard and the Turcot Interchange-is in full swing. Finally, areas just outside the downtown core, from Griffintown to the Jean Talon and Mile End districts, are attracting increased attention from investors, developers and tenants. The office market is further expanding in the suburban areas of Greater Montreal, with projects underway in Laval, the South Shore and the St-Laurent Technoparc.

Highlights

  • Availability rate for all office classes in greater downtown Montreal ended 2Q16 at 12.0%; at 15.9% in downtown core
  • Brick and beam spaces in high demand in corporate corridors on the fringes of downtown core
  • Availability of large contiguous blocks of space is dropping

 

NKF Devencore - Montreal Downtown - Fall 2016 Office Market

 



Real Estate Office Market Report - Fall 2016
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