The Montreal Office Sector continues to show signs of decreasing leasing activity as Quebec government officials eased restrictions allowing non-essential businesses to resume their regular operations.
- For a second consecutive quarter, net absorption is down more than 600,000 SF as the list of available office spaces grows.
- The market is experiencing a downward trend in rental rates, where gross rates have declined in the Core, West, and Old Montreal sectors of the Downtown market.
- The development pipeline has resumed its regular course with the delivery of two new projects in the Downtown East sector.
