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Although improvements to Montreal’s labor market and demand for office space have remained weak, leasing activity in the financial services industry has been active. Notable transactions continue to affect the industry’s landscape, including two large commercial banks that moved more than 330,000 square feet of back office space out of the CBD and into the midtown submarket in the last 12 months. We expect more of this activity as commercial banks and insurance companies aim to consolidate and modernize their office footprints.See what’s going on in the Montreal Banking and Financial Services industry, top trends in the market, and what we expect to see in the coming year.
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