Statistics of office space for lease Montreal
Some statistics to help you make a decision in your quest for office space for lease Downtown Montreal
Class A office space for lease, representing 67% of the downtown core market, has a vacancy rate of 12.8% for the second quarter 2005; a slight increase from the 11.5% vacancy rate reached at the end of 2004.
Class B office space for lease, representing 28% of the downtown core market, finished the second quarter with a vacancy rate of 13.8%, a large decrease from 17% vacancy achieved at the end of 2004.
Class C office space for lease, representing a small percentage of the total downtown core market, has a vacancy rate of 16.8%.
The average asking rent for downtown core office space for lease is approximately $16 per square foot net.
Presently, there are no new office projects underway downtown. However, 5 Place Ville Marie, located on the corner of Mansfield Street and René-Lévesque Boulevard, is presently under construction which mainly revolves around rehabilitating the building’s envelope.
The shortage of available tenants combined with low expansion from present tenants have pushed landlords to offer incentive
packages to large tenants in search of space.
Some tenants have benefited from the current market conditions by negotiating a new lease before the end of their present office leases.
They took advantage of the rise in vacancy rates.
For more information about office space for rent downtown Montreal call us at 514.839.0608
Or go to the downtown Montreal office space for lease page
http://www.office-space-for-lease-montreal.com/6_downtown_montreal_office_space_for_lease.html
Merci/Thank You
HENRI COUSINEAU
Courtier Immobilier Agréé – Chartered Real Estate Broker