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The USA posts its weakest quarter in the commercial office space market since 2001. For the fifth consecutive quarter tenants reutrned more space to the market than they leased. This pushed the national US office vacancy rate to 14.7%. Sublet space is flooding the market as tenants seek to reduce their space needs. The Canadian commercial office market is fairing far better than our neighbours to the South. Negative net absorption of just over one million square feet was reported, but our national vacancy rate is 4.5% -- significantly better than the USA. Canadian cities are also reporting a rise in the amount of space available for sublet. For a complete copy of this valuable reference document, please click the link below.
Contact Pam Macfarlane at 902.423.1825 for more information.
  officeNAhighlights1Q2009.pdf
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