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The Montreal office market is showing early signs of tightening. Total net absorption in the GMA experienced a large upswing of positive 441,807 square feet in Q2 2016. This increase in absorption was accompanied by a drop in total vacancy of 30 basis points from last quarter to12.7 percent. The unemployment rate has dropped 40 basis points since last quarter but remains 120 basis points above year over year levels, bringing the current unemployment rate to 10.0 percent.
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