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Canada Office Outlook - Q2 2018

The positive momentum continued for the Canadian office market in the second quarter of the year. Employment numbers revealed continued strength in the job market adding nearly 32,000 jobs in June bringing the 12-month total to 214,900 new jobs. The office vacancy rate dropped 10 basis points to reach 12.0 percent. The pace of occupancy gains rose considerably as over 760,000 square feet were absorbed nationally, up from a mere 65,057 square feet in the previous quarter, and leases signed greater than 20,000 square feet almost doubled led by continued strong demand from a space hungry tech sector. 

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