In the last quarter of 2020, we find Winnipeg alongside the majority of Canada and the world still facing the impact of COVID-19.
- Downtown Class AA and A buildings led the charge for positive absorption, totaling 39,633 SF of positive absorption which helped to balance out 91,917 SF of negative absorption in Class B and C buildings in Downtown.
- For the first time in over a year, the vacancy rate in the suburban office market decreased from 10.3% to 9.8% in Q4 2020.
- A continuing trend is the “right-sizing” of both government and FIRE (financial, insurance and real estate) tenants.