The commercial real estate firm says that a fourth wave has slowed an expected return to work, helping push up the vacancy rate from 15.3 per cent in the last quarter.
It does, however, say that leasing activity is picking up, driven especially by demand from the technology sector, and that four of 10 major Canadian markets saw increased occupancy.
The story is quite different on the industrial front, where vacancies are low as demand for distribution and logistics space remains at an all-time high.
CBRE says the national vacancy rate for industrial space was at two per cent in the quarter, while several markets including
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