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Waterloo Office Market Report Q1 2021

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research article

Availability in the Waterloo office market continues to rise, with historic levels of available sublet space in the Region.

  • Negative absorption was recorded for the third consecutive quarter, leading to one of the longest periods of negative absorption since 2017.
  • Despite increases in available sublease and direct lease space, face rates are continuing to hold steady and have even seen an increase of 0.9% year over year.
  • Sublease availability has seen its slowest growth in the past 3 quarters, showing signs that the office market could start to recover and rebuild by the end of 2021 or beginning of 2022.


Waterloo Office Market Report Q1 2021

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For More Information, Please Contact:

Karl Innanen

Executive Vice President, Broker

Waterloo Region

Karl Innanen quickly became a “spokesman” for the investment real estate market in Southwestern Ontario. He was able to dovetail his economics education from the University of Western Ontario with the practical experiences working in the real estate brokerage field since 1990.

Karl’s expertise is in understanding and analyzing clients' needs in relation to the dynamics of the market, and formulating strategies that will enable the client to attain their business goals.

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