Halifax Office Market Report Q4 2019

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research article

The Halifax office market experienced impressive levels of positive net absorption throughout 2019, closing the year off at 459,296 square feet (Year-to-date). 

  • Vacancy continues to tighten quarter-over-quarter dropping 110 bps from Q3 to 12.6%. This marks the lowest recorded overall vacancy rate since Q3 2016. 
  • Unemployment has averaged 6.9% for the year, which is the lowest annual unemployment rate on record for Nova Scotia according to APEC. 
  • Queens Marque, Armour Group’s mixed use development is still on pace to be completed by Q3 2020.

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Halifax Office Market Report Q4 2019

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For More Information, Please Contact:

Janice Mitchell

President | Managing Broker Industrial Sales and Leasing

Halifax

Janice embarked on a career in commercial real estate in March of 1983 and specializes in the Industrial market. She has consistently been one of the top producing agents in the field of Industrial Sales and Leasing since that time.

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Greg Taylor

Vice President | Managing Director

Halifax

Greg has been involved in multiple aspects of commercial real estate over the past 15 years. He is part of the top investment brokerage team in Atlantic Canada. The creative and strategic approach the team brings to client engagements has resulted in many successful closings. In addition to his responsibilities in investment sales, Greg is the Vice President of Colliers International (Nova Scotia) Inc., and a shareholder in the company.

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