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Downtown office construction reach new heights

​• Downtown Montreal office construction has reached new heights as over 1.6 million square feet are currently under construction.

• Over 60 percent of new office space coming to market is from one project alone namely the National Bank office building. The project is a Joint Venture with local developer Broccolini and when completed in 2022 it will be the largest office tower built in over two decades (36 floors) and hold over 1.0 million square feet of brand new office space.

• In a market with relatively high vacancy, downtown Montreal sitting at 10.2 percent at Q4 2017, Broccolini and National Bank took advantage of one of the last large development sites in the Downtown area where vacancies are expected to push downwards and absorption seems to be rising in a positive manner for the Downtown area.​

Source: JLL Research

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