| Office space for rent ST-JACQUES | |
| There are more than 78 million square feet of office space for rent in Montreal | |
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Office space for rent St-Jacques
street Montreal – Old Montreal - Laval – Saint-Laurent - West-Island – West-end Montreal - East End Anjou - South-Shore - Industrial - Subleases - Philippines - Office lofts Montreal - Corporate Services - References - 514.839.0608 - 450.465.6105 |
| St-Jacques street | Henri Cousineau, Chartered Real Estate Broker |
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OFFICE SPACE FOR RENT ON SAINT JACQUES |
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| 10 Saint-Jacques |
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244 Saint-Jacques | 266 Saint-Jacques |
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| 288 Saint-Jacques | 360 Saint-Jacques | 55 Saint-Jacques | 612 Saint-Jacques | 620 Saint-Jacques |
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The national office space vacancy rate has increased to 11.7 per cent in first quarter of
2006 from 9.2 in first quarter according to an office space for rent vacancy rate report released today. All major markets examined reported increases in
their vacancy rates.
Companies whose leases space are expiring in the next 12 months are in an advantageous position as softer demand for office space for rent in Montreal is prompting
office space building owners to become retention focused and offer more flexible
conditions, particularly in the B and C Class office buildings. Existing tenants with two or less years remaining on their leases are
pushing landlords to renegotiate more competitive long-term leases for their office space with incentives.
Across Canada figures indicate that the leasing activity has slowed significantly the last two quarters A common trend reported in all markets examined is that negative absorption
is causing downward pressure on rental rates.
The current political situation combined with a sluggish U.S. economy is expected to delay recovery in the commercial real estate sector to later this year or quite possibly the first quarter of
2006.
In Montreal, the vacancy rate rose to 12.1 per cent in first quarter 2006, up from 10.7 per cent in first quarter
2005 and edged up marginally by 0.5 percentage points from last quarter.
Montreal's market continues to experience negative absorption, which has carried over from last quarter.
In the short to mid term, the Montreal market will favor the tenant. In this soft market, landlords will be negotiating in an effort to retain their tenants, and attract new ones. The consolidation of Caisse de depot from the downtown core into Old Montreal
resulted in approximately 400,000 square feet (sq. ft.) of office space returning to the core market. This
resulted in more opportunities for companies seeking larger tracts of contiguous office space in the downtown Montreal core.
Over the next 12 months, the vacancy rate should increase slightly, leading to softer market conditions.
The suburban market is experiencing different conditions compared to downtown Montreal. With a small amount of positive absorption and little new supply on the market, vacancy rates are decreasing slightly.
In popular suburban areas like the West Island, the office space for rent vacancy rate in Class A buildings are very low. However, analysts anticipate an increase in available office space for rent as technology companies continue to rationalize their operations.
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514.839.0608 |
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