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The national office market has witnessed vast variations across geographies and markets, ending the year much the way it began. The Greater Toronto Area (GTA) and Metro Vancouver markets remained in the drivers’ seat, both posting consistent positive absorption throughout the year, with Toronto in particular finishing off the year with a strong fourth quarter. Montreal’s steady economic and employment growth translated into 550,937 square feet of positive net absorption for the year. At the other end of the spectrum is Calgary which posted negative net absorption in all four quarters for a total of negative 4,004,131 square feet.
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