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The office space
to rent in downtown Montreal financial core are in prestigious towers and most are class "A" or "B" office buildings. Some of the buildings have distinctive architecture. All office space for rent downtown Montreal are prime location in the heart of Montreal's business district on the city's busiest intersections. The office space
to rent e easy access to public transportation that makes it an ideal choice for any type of business. Most office space are in buildings that
give you easy access to the metro stations and Montreal's underground. Some of the properties that have office space
to rent The properties have many interesting features such as state of the art conference centres,gyms. The building is also equipped with ultra-modern, high-performance facilities, be it for telecommunications, air conditioning and security. Most office buildings have security 24/24, 7/7. Access to the office space
to rent is with access card system outside of business hours, provides occupants of the office space with a feeling of security. The office space
to rent comes with turnkey tenant improvements.
There is
office space to rent in Downtown Montreal in most of the office
buildings on Rene Levesque, Peel, de Maisonneuve, Sherbrooke, Stanley, McGill College, Sainte-Catherine, Dominion Sqare, Philipps Square
The
office space to rent in Downtown Montreal's financial core are in some
of the most famous buildings in Montreal. The buildings offer corner
offices have high-quality features that meet the requirements of a
workplace focused on efficiency and productivity.
The office space to rent downtown Montreal is very well located,
positioned as it is in the centre of Montreal’s business area. Via
Montreal’s sprawling underground pedestrian network. The tenants have
access to three metro stations, two train stations and a bus terminal.
The office buildings that have office space to rent downtown Montreal
offer a stimulating environment for any modern company that seeks state of
the art office space. |
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Some statistics to help you make a decision in your quest for
Downtown Montreal office space to rent
Class A office space to rent, representing 67% of the downtown core market, has a vacancy rate of 12.8% for the second quarter 2005; a slight increase from the 11.5% vacancy rate reached at the end of 2004.
Class B office space to rent, representing 28% of the downtown core market, finished the second quarter with a vacancy rate of 13.8%, a large decrease from 17% vacancy achieved at the end of 2004.
Class C office space to rent, representing a small percentage of the total downtown core market, has a vacancy rate of 16.8%.
The average asking rent for downtown core office space to rent is approximately $16 per square foot net.
Presently, there are no new office projects underway downtown. However,
Place Ville Marie, located on the corner of Mansfield Street and René-Lévesque Boulevard, is presently under construction which mainly revolves around rehabilitating the building's envelope.
The shortage of available tenants combined with low expansion from present tenants have pushed landlords to offer incentive
packages to large tenants in search of space.
Some tenants have benefited from the current market conditions by negotiating a new lease before the end of their present office leases...
They took advantage of the rise in vacancy rates.
Update end
of December 2005 and office space to rent forcast for 2006-2007
Cental business district (Montreal financial core)
Class 'A' office buildings
The vacancy rate of office space fell to 10.3%.
The average asking net lease rates fell to $13.82 psf.
Additional rents increased from $12.51 psf to $12.58 psf.
In class 'B' office space buildings, the vacancy rate went down to 13.6%
Strong Absorbtion
There was strong absorption also in the West Island, Downtown South, and Old Montreal
markets,Central Core, Downtown East, Midtown, and Laval.
The worst performers in absorption were Downtown West, Atwater-Westmount, East End, and the South Shore.
Vacancy rates and leasing rates fell
Overall, vacancy rates fell to 12.6% by the end of 2005
Prime Class 'A' office space, saw sublet space increase.
New Projects
New office space construction projects are Antrev Management's Esplanade Loft Complex
(125,000 SF of loft style office space to rent at 6750 Avenue de l'Esplanade).
The largest office space project planned for the near future, Hines' 385,000 SF, 27-story
office space tower at 900 de Maisonneuve West.
Completed projects are:
renovations at 685 Cathcart Street (70,000 SF of office space to rent) and
the Gordon Brown Building (400 de Maisonneuve Boulevard West, 330,000 SF of loft style office space
to rent).
Outlook for 2006:
As vacancy rates drop to around 12.0%, tenants will find it increasingly difficult to find new
space. High absorption and low vacancy numbers will begin to indicate that new office
towers could be built in mid- to late-2007.
With the future strength of demand for office space, and as landlords find that fewer incentives
are needed to secure tenants, they will begin
the push for increases in asking rents. Rents
will begin to go up. By the end of 2006, and early
into 2007, net effective rents
and vacancy rates should reach peak levels.
For more information about office space for rent downtown Montreal call us at 514.839.0608
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