Analysis of Performance
Office vacancy rate:
- Vacancies have seen a steady increase since Q4 of 2022 after reaching a post-Covid low in Q3 2022.
Industrial vacancy rate:
- Vacancies continue to see a steady increase but remain below the national vacancy rates of 4.4%.
Retail vacancy rate:
- Vacancies have continued to slowly decline and remain below the national rate of 4.2%.
EHO will continue to monitor and do broker engagement to support filling vacancies where possible.
Why Is This Important?
City Organization Impact on Performance
Medium – The activities of the Economic Health Office directly relate to users of commercial space, but actual leasing activity is also influenced by other outside factors.