Q3 of 2021 has marked the first quarter of positive absorption in Waterloo Region since the start of the pandemic and broken a four quarter streak of negative absorption.
- Despite the positive absorption, availability saw a quarter over quarter increase of 1%, this could be due to many businesses being hesitant to return to office and pushing their plans to return to the start of 2022.
- The average net rent continues to grow steadily as the price per square foot for the region increased by $0.10 since Q2 2021 to $15.10.
- Sub-lease space makes up 22.7% of all available space in Waterloo Region’s office sector, with the majority of space being in the City of Waterloo’s Suburban submarket.
