News
Why Renovations Matter
With the market softening, talk about an over-build is a buzz topic. (That and whether it's OK to collectively pretend the recession was just a bad dream.) Colliers AVP Dan Jordan says pent-up demand from tenants for new, high-quality product has been driving strong pre-leasing activity. He points to a necessary “balance” in the market that has been tilted too much in favour of landlords for several years. “Prudent” landlords who have reinvested in their building in recent years shouldn’t see a dramatic impact in their occupancy levels. “However, owners of older buildings that haven’t been proactive in their renovation and leasing programs could be in for some turbulent times,” Dan says.
