The Greater Victoria office market continued its stable performance relative to other Canadian markets throughout the pandemic, with overall vacancy remaining at 7.3% from Q2 2021 to Q3 2021.
- To date, there has been limited sublease space offered to the market, with the current sublease availability totaling 42,115 square feet, representing only 6.4% of the total vacant space available.
- As vaccinations increase and normalcy returns to the market, investors are back in the market to purchase office assets, with stabilized tenants.