CBRE report: Canada's first positive office leasing activity since pre-pandemic in Q3, driven by suburban markets.

A CBRE report indicates that Canada is experiencing its first positive office leasing activity since before the pandemic, with six out of ten major markets showing net positive demand in Q3. Suburban markets are driving this trend, as the national suburban vacancy rate decreased to 17.3%, while downtown vacancy rose to 19.7%. Notably, demand for premium "trophy assets" is increasing, with a decline in sublet space marking the lowest level in two years.

October 01, 2024
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