Metro Vancouver’s office vacancy rates continue to tighten while awaiting the arrival of new supply.
- The suburban markets accounted for 92% of activity while the Downtown and Midtown submarkets accounted for 10% of positive absorption and 2% of negative absorption respectively.
- Downtown Vancouver is expected to continue to experience low vacancies for the duration of 2019.
- The total office area under construction is 2.8 million square feet in the downtown market, with approximately 420,000 square feet expected to complete in 2020.
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