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Waterloo Office Market Report Q1 2022

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research article

The first quarter of 2022 was characterized by negative absorption, a low transaction level, and paradoxically higher rental rates.

  • A lack of momentum and no notable deals were completed in the region, with no individual transactions being greater than 7,000 square feet in any of the submarkets.
  • Despite the negative absorption in the region, average asking net rents rose to $16.07 per square foot or 8.0% year over year.
  • Majority of the Vacant space in the region continues to be found in the Downtown Kitchener submarket, which now makes up 47% of total vacancy across the region.

Waterloo Office Market Report Q1 2022

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Pour plus d’informations, veuillez contacter:

Karl Innanen

Managing Director, Kitchener | Broker

Waterloo Region

Karl Innanen quickly became a “spokesman” for the investment real estate market in Southwestern Ontario. He was able to dovetail his economics education from the University of Western Ontario with the practical experiences working in the real estate brokerage field since 1990.

Karl’s expertise is in understanding and analyzing clients' needs in relation to the dynamics of the market, and formulating strategies that will enable the client to attain their business goals.

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Leo Lee

Directeur national Opérations, Recherche | Canada

Toronto West

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