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Halifax Office Market Report Q4 2020

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research article

The Halifax office market experienced an overall increase in vacancy of 50 bps, ending the quarter at 15.1%. This increase is largely due to an influx of vacant sublet space into the market, with many tenants continuing to work from home. 

  • Downtown CBD experienced a significant influx of space for sublet in Q4, totalling around 70,000 SF.
  • Suburban markets continue to outperform the CBD due to lower asking rental rates, parking accessibility, and better opportunity to maintain physical distancing.
  • Experts are confident leasing activity will begin to pick up through early 2021 as COVID-19 restrictions lift and vaccinations become readily accessible to the general public.
 

Office Market Report

Halifax Office Market Report Q4 2020

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For More Information, Please Contact:

Greg Taylor

Managing Director

Halifax

Greg has been involved in multiple aspects of commercial real estate over the past 30 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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