Canada office insights

The performance gap continues to deepen across building classes

April 24, 2024
  • Matthew Clark
  • Megan Keeler

Trophy and 'A' Class net absorption totalled nearly 2.9m s.f. nationally, underpinned by recent occupancy into new buildings in Toronto and Vancouver. Meanwhile 'B' and 'C' class absorption totalled -1.7m s.f. as tenants continue to leave lower-quality buildings.

Click below to download the individual city insight reports:

Calgary office insight

Large Q4 leases decreased Trophy and Class A availability Downtown; Suburban lease velocity remained stagnant.     
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Montreal office insight

Class A assets show signs of resilience as investors close out the year with notable acquisitions.     
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Southwest Ontario office insight

Leasing momentum continues to shift to suburban nodes.     
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Vancouver office insight

Periphery and suburban markets face declining office demand while downtown continues to show resilience.     
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Toronto office insight

GTA leasing activity continued to rebound amid tenant-favourable market.     
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Edmonton office insight

Positive leasing momentum continues into 2024 with strongest quarterly absorption in five years.     
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Ottawa office insight

Office to residential conversions removing Downtown Class C from inventory, lowering vacancy.     

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