The office market in London, Ontario is comprised of just over 7.7 million square feet of competitive leaseable space with approximately 4.5 million square feet located in the core area. Core area rates range from $8.00 per square foot to $20.00 PSF net.
Trends- Full floor opportunities in the core area are starting to be absorbed by existing tenant expansions.
- Net rental rates achieved this quarter range from $6.00 to $16.50 psf.
- Class A buildings in London’s core market are the predominant class with just under 2 million square feet of supply, and low vacancy rates.
- With creative digital businesses continuing to grow in London, there is a steady demand for office space and building amenities suitable to these tenants.
