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Slowing global and Canadian economic conditions are now evidenced in the Canadian offi ce market, although not to same degree in all cities. Canada’s largest office markets have begun to see both direct and sublet vacancy begin to rise with the exception being Montreal where to date the picture is stable. The spotlight remains on Toronto and Calgary as both markets prepare to digest large amounts of new supply, and to a lesser degree Vancouver, where an early surge in sublet space was cause for concern. Beyond the challenges of new supply, demand levels are clearly an area of concern for landlords, and Q1 has seen a sharp uptick in the ratio of sublet space to total vacant space.
Contact Ian MacCulloch at 416.643.3708 for more information.
  Q109_Canadian Snapshot - Office.pdf
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