Summary
Now companies don't exchange documents as much and do more teleconferencing, Pratt said. "So I'm of the opinion, and I don't think I'm alone, that we will not see a new downtown office tower built for a lengthy period of time."
[Wayne Johnson] said the Class A vacancy rate was 5.1 per cent at the end of 2008, and he attributed last year's decline mainly to two transactions -- Goodlife Fitness leasing 15,500 square feet in the Canwest Global tower, and D'Arcy Deacon LLP renting two floors (28,000 square feet) in the Richardson Building at 1 Lombard Pl.Here are the office vacancy rates in Winnipeg according to Wayne Johnson of Royal LePage Dynamic Real Estate and the commercial real estate firm of Colliers [Pratt McGarry]. There are discrepancies in the numbers because Colliers' figures include vacant sublease space, while Johnson's do not. They also classify some buildings differently:See the full content of this document
Extract
New Highrise Not in the Cards
Rents too low, demand weak, agent says
Don't hold your breath waiting for a new multi-tenant office tower to be built downtown, even though one industry analyst says the Class A vacancy rate is at its lowest level in a decade.Wayne Johnson, a commercial leasing agent wi...See the full content of this document
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