TORONTO — A new report from CBRE says Canada’s office market has officially experienced one full year of recovery since the COVID-19 pandemic disrupted the sector.
CBRE said Canada’s office vacancy rate stood at 17.1 per cent in the second quarter, down from 18.7 per cent a year earlier.
“One year of solid office demand and declining vacancy is worth noting since many still question the office market,” said Marc Meehan, CBRE Canada research managing director, in a news release.
The report says net absorption rates were positive in seven of 11 Canadian markets, with overall net absorption reaching 1.2 million square feet. Those gains were
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