Absorption reached 1.5 million sq. ft., the highest quarterly figure ever recorded by CBRE in the GMA.
Ilot Balmoral and 425 Viger Avenue West increased the GMA inventory by 1.5% or 613,610 sq. ft. Both new developments were fully pre leased.
Downtown, vacancy declined to 6.3% in Q1 2020. A dramatic change from the 9.9% recorded in Q1 2018.
Up until the COVID 19 pandemic, momentum was expected to carry into 2020. This global pandemic will create a challenging business environment for the coming