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More than 15 million square feet of offices were available to rent in Greater Montreal as of late March. That’s 39 per cent more than a year earlier, at the onset of the pandemic.
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Downtown Montreal is a renter’s market again for businesses looking to move offices, at least.
Office space available for subleases in the city’s central core jumped 33 per cent in the fourth quarter of 2020 to reach 853,032 square feet, according to Devencore’s winter 2021 market report, which is being released Tuesday by the real-estate brokerage and consulting firm.
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The trend helped boost downtown vacancy rates from 10.7 per cent in the third quarter to 12.1 per cent, their highest level in almost two years, Devencore data show.
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