Many companies finished purging themselves of unwanted space and once again looking to lease…Winnipeg led all Canadian markets with absorption of almost 800,000 square feet in third quarter, Ottawa, Saint John, and Halifax also experienced positive absorption…

(Source: Reuters)

Demand for Canadian office space remained weak in the third quarter, but signs suggest improving business fundamentals are encouraging companies to make new occupancy decisions after a period of pullbacks, according to a report on Thursday.

“Absorption” of office space across Canada unexpectedly shifted to the positive side in the third quarter across most markets, after two “tense” quarters of absorption averaging a negative 2.4 million square feet per quarter, said commercial real estate services firm Cushman & Wakefield.

Read the full article, “Canadian office markets show signs of life: report” at Reuters (Oct 22, 2009).

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