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The Montreal Office Insight provides a quarterly update about the Greater Montreal's Office market. The report identifies historical trends and current market conditions to help tenants make better informed leasing decisions.
The Montreal office market enters tenant favorable conditions during the second quarter of 2014.• The GMA saw a fourth consecutive quarter of negative growth in the second quarter of 2014.
• The completion of seven buildings this quarter added nearly 875,000 square feet of space to the market.• This combination of weak demand and over supply has caused total vacancy to inch upwards 500 basis points in the second quarter of 2014 to reach 11.1%.• We expect total vacancy to continue its upward momentum until the end of the year and increase by at least 500 basis points causing the total vacancy rate to reach nearly 11.6%.
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