As market availability shrinks, tenants forced to get creative
In its Real Estate Market Research study published today, Devencore reported that vacancy rates for all office classes in downtown Vancouver have further lowered to 4.5%, down from 5.0% a year ago. Class A office vacancy rates are even lower, at 3.9%. At the same time, Class A average gross rents are continuing to climb with annual rates exceeding $51 per square foot.
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