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The demand for new LEED® certified space has caused the biggest office building construction boom in over a decade across Downtown Montreal. However, market conditions have been deteriorating for the last 18 to 24 months and owners of second generation buildings are now left with more large blocks of empty space. There will be a sustained upwards pressure on vacancy rates in Downtown Montreal until at least 2016 as tenants continue to rationalize space or look for more affordable options outside the central business district.
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