Reports Indicate Brampton Availability Rates Declining Slightly
Thursday, Jan 31 2008, 02:00
According to Cushman & Wakefield Lepage’s “Q4 2007 Statistical Summary & Vacancy Snapshot Reports”, the overall Office Vacancy Rate in Brampton moved to 0.5% in the fourth quarter of the year. This was on par with the previous quarter but down from 0.8% in the same quarter in 2006. Class A space posted the same Vacancy Rate as the overall at 0.5%. Class B space being slightly higher at 1.3%, which was down from 1.5% in the third quarter of 2007 and from 2.1% in the previous year.
Colliers International’s “The Knowledge Report” for the Greater Toronto Area indicates industrial availability was also lower in 2007 when compared to the fourth quarter of 2006. Available space accounted for 3.8% in 2007, down from 4.7% in 2006.
In 2008 several projects that are currently underway should help ease some of the pressures felt by declining availability.
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