Canada office insights
Vacancy continues to climb, concentrating on Class B segment
- Shawna Rogowski
- Matthew Clark
- Megan Keeler
Canada saw absorption reach approximately negative 1.53m s.f. in the second quarter, pushing national vacancy to a multi-decade high of 15.8%. The Class A segment and suburban markets outperformed while the majority of added vacancy was in the Downtown Class 'B' segment, with several tenants consolidating into higher quality buildings.
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Calgary office insight
Asking net rents increase across all classes, showcasing another positive quarter.
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Montreal office insight
Vacancy and asking rates increased slightly while landlords continued to upgrade their assets.
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Southwest Ontario office insight
Residential conversions underway as landlords look to rightsize the market to meet demand.
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Vancouver office insight
Overall vacancy remains steady, while sublease vacancy accelerates dramatically.
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Toronto office insight
Right-sizing and flight-to-quality drives leasing momentum while the sublease market cools down.
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Edmonton office insight
As election looms and population booms, office market momentum remains in suburbs.
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Ottawa office insight
Ottawa’s vacancy rate hits double digits for first time in 5 years, market uncertainty continues.
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