Montréal

The commercial real estate market in Montreal has never been so vibrant. Local businesses continue to expand and outgrow their premises and foreign companies are gravitating to the Greater Montreal Area (the ‘’GMA’’) to benefit from the relatively low occupancy and labor costs in comparison to Toronto and Vancouver.

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Both the office and industrial markets tighten further this quarter as leasing activity increases and vacancy continues to decrease. Labor market conditions in Montreal remain healthy and are expected to steadily improve.

While some companies prepare for the return to office, others are opting to incorporate remote work into their long-term workplace strategies. For these occupiers, it will be important to reevaluate your space utilization and — if it proves cost-effective — shed what you no longer need.

Companies are looking to create more dispersed footprints, adding satellite offices so suburban employees don’t have to commute downtown on transit, says CEO Jim Underhill. Suburban properties that will most benefit from this strategy will be those in walkable areas, he adds.

The commercial real estate market in Montreal has never been so vibrant. Local businesses continue to expand and outgrow their premises and foreign companies are gravitating to the Greater Montreal Area (the ‘’GMA’’) to benefit from the relatively low occupancy and labor costs in comparison to Toronto and Vancouver.