Huge absorption in Edmonton
Edmonton office vacancy rate falls
By Journal Staff, edmontonjournal.com June 18, 2012 12:28 PM
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The vacancy rate for downtown office space has declined to 7.5 per cent, Cushman & Wakefield said in a report Monday.
The vacancy rate for downtown office space has declined to 7.5 per cent, Cushman & Wakefield said in a report Monday.
Photograph by: John Lucas , John Lucas/Edmonton Journal
EDMONTON - Strong demand is shrinking vacancy in Edmonton’s office market in the second quarter with nearly 400,000 square feet of absorption, says a national report released Monday by Cushman & Wakefield.
A strong oil sector, along with the industries that service it, are driving demand, the real estate company said. Vacancy in the downtown core dropped to 7.5 per cent in the second quarter, down from 8.5 per cent in the previous quarter. The market had positive absorption of more than 170,000 square feet of downtown office space
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