After five consecutive quarters of positive absorption, Q3 2020 was the first to see negative absorption.
- Landlords have not been seen to adjust their rents significantly, and with limited leasing activity it is hard to know how rents are being affected.
- The amount of sublet availability has increased over the past 3 months but not as dramatically as in other markets in Canada.
- The first new office building in Downtown Kitchener in over two decades is now complete.
- The recovery of the Waterloo Region office market over the next year will weigh heavily on how much of the tech sector comes back to the workplace.