Montreal Q2 2020 Market Report

The effects of COVID-19 have undeniably re-shaped the way tenants interact with and occupy office and industrial space worldwide. “Working From Home”, a policy that may have been adopted early on by companies in industries that are more technologically advanced, is now mandatory for most businesses forcing them to adapt as the Canadian government grasps with gaining control over the pandemic. As commercial real estate advisors, we have been assisting tenants in assessing how the pandemic’s risks can be mitigated in the short-term, while planning for re-entry and anticipation of future requirements of companies to phase employees back into the workplace safely. The commercial leasing market in the Greater Montreal Area has experienced a great reversal after the record setting high volume of leasing activity we experienced at the end of 2019. Market conditions have quickly shifted to tenant favorable, with many opportunities arising for those tenants in industries such as Technology, PPE and Distribution that are experiencing success during these trying times.

Vacancy, gross rent and net absorption rates