News
Office Vacancy Up in Q2
Last night, we dipped into the new office report from CBRE. (Nothing like getting a head start on beach reading.) The national vacancy rate rose to 10.4% in Q2, up from 10.3% last quarter. But CBRE research director Ross Moore (pictured) tells us the rate is slowing after a "prolonged period of lacklustre leasing," with more office space coming off the market in Q2 than at any time in the past two years. (You can finally stop growing that vacancy-rate-protest beard.) Toronto, Vancouver, and Montreal all saw more office space leased than was put on the market. An improving US economy is inspiring confidence, Ross says. "So we should be seeing occupied space increase."
