Waterloo Office Market Report Q1 2020

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research article

Much of the first quarter of 2020 followed the upward momentum of 2019. Activity levels remained buoyant, availability shrinking, and rental rates were increasing at a steady pace.

  • Rental rates continued their steady climb increasing 1.3% from last quarter and is up 4.6% from the same period 12 months ago, though the pandemic is likely to dampen rental growth over the short term.
  • COVID-19 is expected to slow down the pace of construction. There are seven new office buildings currently under construction in the Waterloo Region representing almost 650,000 SF of new space.


Waterloo Office Market Report Q1 2020

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Karl Innanen

Managing Director

Waterloo Region

Karl Innanen quickly became a “spokesman” for the investment real estate market in Southwestern Ontario. He was able to dovetail his economics education from the University of Western Ontario with the practical experiences working in the real estate brokerage field since 1990.

Karl’s expertise is in understanding and analyzing clients' needs in relation to the dynamics of the market, and formulating strategies that will enable the client to attain their business goals.

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