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Although office vacancy remains high, traffic has increased in the last 90 days and office spaces are being shown to prospective tenants again, said Ted Overbaugh, senior vice-president and managing director of the commercial realty firm that authored the report, CBRE.
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“On the office front it seems overall the last 12 months have been flat. There’s not much positive news in the market,” Overbaugh said. “There’s a lot of wait and see.”
Downtown office vacancy spiking but retail demand on rebound: Analysts
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A Toronto real estate investment trust is buying six industrial buildings in London for $103.5 million.
Nexus Real Estate Investment Trust is investing in London because it believes the city has a solid business climate, said Kelly Hanczyk, the trust’s chief financial officer.
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“London is a tight industrial market. I think there is a lot of growth, a lot of upside in this portfolio,” he said. “We are building our industrial portfolio across Canada. These are well-maintained buildings.”