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Montreal Office Market Report Q3 2021

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research article

As transactional activity ramps up across the region, the Suburban office market has shown a relatively significant amount of leasing activity as tenants favored brand new built out spaces in peripheral markets.

  • Despite the increasing amount of vacant space in Financial Core, the Greater Montreal Area saw its lowest growth in vacancy by about 40 basis points, quarter-over-quarter to 12.8%
  • The Suburban and Midtown markets registered an influx of tenants with a combined net absorption of 507,714 SF which resulted in a decline in vacant space for the first time since Q1 2020.
  • Developers continued to deliver some significant projects outside of Downtown sector, specifically in the Centre East with the delivery of Milwork at 7260 Saint-Urbain and 2601 William-Tremblay at Technopole Angus.

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Montreal Office Market Report Q3 2021

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For More Information, Please Contact:

Colin Worrell

Managing Director, Brokerage

Montreal

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Roelof van Dijk

Senior Director, National Research & Analytics | Canada

Toronto Downtown

As Senior Director, Research & Analytics | Canada, Roelof leads the strategy and operation of Colliers Canada Research, delivering market intelligence initiatives that give Colliers and its clients a competitive advantage. He focuses on developing a high-performance national research team that leverages Colliers’ best-in-class market intelligence to produce relevant insights on local and national market and industry trends that inform client decisions, address market needs and support Colliers’ growth strategies.

Roelof has 15 years of experience covering the Canadian commercial real estate market. Prior to his career in commercial real estate, he also worked as a project manager and urban planning consultant for residential developers across the Greater Toronto Area.

Roelof is regularly cited in national publications, such as The Globe & Mail, CBC News, Bloomberg, Reuters, Maclean’s Magazine and the National Post, as well as in local outlets across Canada.

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