Suburban market growing despite increasing vacancy in the office market caused by pandemic.
- Suburban market sees a drop in vacancy, down to 8.5% from 9.6%. A testament to suburban migration occurring across the country.
- Armour Group and Armco Capital continue to develop flexible, modern office space in the suburban market, each adding 100,000 square feet (SF) for a total of 200,000 SF, due for completion in early 2022.
- With rapid population growth in Nova Scotia, COVID-19 restrictions being lifted, and employees gradually returning to office, experts anticipate an uptick in market activity as we proceed through 2021.