01-10-2024, 05:55 PM
(01-10-2024, 04:45 PM)ac3r Wrote: Downtown office vacancy rates hit 23.3%: https://www.therecord.com/news/waterloo-...d81b7.html
It's no surprise at all. Between office space reductions and new office space available, it was bound to skyrocket.
The suburban office vacancy is under 10% so I expect we'll see some companies moving to downtown (it's obviously not a fit for all companies). There will also be some new tenants appearing, and maybe some more condo conversions, so the downtown vacancy rate will almost certainly start dropping again, but it definitely will not be sudden.