The Halifax office market experienced an overall increase in vacancy of 150 bps (Basis points) since last quarter, starting the year off at 14.1%.
- The largest contributors of this decline were the Central Business District (CBD) and Dartmouth submarket, recording -56,930, and -68,212 square feet of net absorption, respectively.
- Fleetway Inc. officially relocated from their former offices at 84 chain lake drive, leaving behind approximately 34,000 square feet of vacant space in the suburban submarket.
- The 228,000 square foot development at 35 Micmac Boulevard has come online this quarter and is approximately 80% occupied as of Q1.
