Canada

Cookies

This website uses cookies to remember site preferences. By using this website you consent to the use of cookies.

Research

Canadian Office and Industrial Market Overview Q4 & Year End 2016

Canadian Office and Industrial Market Overview Q4 & Year End 2016

Canadian Office and Industrial Market Overview Q4 & Year End 2016
  • The Canadian economy saw significant ebb and flow through 2016, ending the year at 1.3 per cent real GDP growth. Looking forward, the Western Canadian markets should carry most of the economic growth with Vancouver, Calgary and Edmonton leading the pack.
  • The Q4 2016 Canadian office market saw an average vacancy rate of 10.21%, with Montreal (9.0%), Winnipeg (8.3%), Victoria (7.8%), Vancouver (7.4%), Toronto (5.4%) and Thompson-Okanagan (2.4%) all falling below the national average. 
  • 2016 YTD office absorption was negative 368,000 square feet nationally, which was supported by strong positive growth in Vancouver (2.4 million square feet) and Montreal (1 million square feet). Calgary saw the largest decline at negative 1.9 million square feet, followed by Toronto at negative 1.2 million square feet.
  • The Canadian industrial vacancy rate was at 3.0% in Q4 2016, with only four markets on par or below: Toronto (1.0%), Vancouver (2.0%), Regina (2.8%) and Thompson-Okanagan (3.0%).
  • Overall demand remained strong throughout the year, reaching just over 5 million square feet of absorption. The majority of this demand came from Vancouver and Toronto, representing 2.7 and 2.1 million square feet, respectively.

Download Document

( PDF Document 2.5 MB )

Subscribe to Research

Subscribe by email

Share This Page

For more information, please contact

Close