Following six consecutive quarters of positive absorption and momentum, the Edmonton Office Market was relatively stagnant over Q2 2019.
- Rental rates, vacancy and absorption remained flat across the board, as landlords and tenants continue to wait to fully understand the impacts of the most recent provincial election.
- The Suburban Office Market reported positive numbers overall, as vacancy decreased, and 20,710 square feet of positive absorption occurred
- The Downtown Office Market reported 62,211 square feet of negative absorption this quarter, with a slight increase in vacancy to 15.5%.
- With a looming fall federal election and the provincial budget on hold until Q3, there has been a great deal of uncertainty in the marketplace.
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