- While Halifax’s office market saw increased vacancy across both the downtown and suburban markets in Q4, the overall rate of 15% is still very much in line with previous quarters.
- Office asking net rent across markets appears to hold steady, however tenants expect inducement packages such as tenant allowances or early occupancy out-of-term.
- The debate over full capacity space requirements is still ongoing, even though many tenants have made their back-to-work decisions. The emergence of the Omicron variant in Canada may yet alter this debate in some capacity.
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