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Date Entered: 11/06/2013
Subject: 2012 June HRM Office & Industrial Demand
Attachment: 4.pdf (Original file name: 4.pdf)
Comment: While the overall office market in Halifax showed some weakness over the past year, with vacancy increasing from 7.71% in 2011 to 8.21% in 2012, the most dramatic change is occurring in Class A office space, as demand follows new supply from downtown to the suburbs. If the downtown is the heart of the city, can the city survive the suburban drain? The enclosed press release results from what we believe is the most comprehensive survey of office and warehouse space ever undertaken in HRM. Completed recently for the Federal Government, the survey is the latest of six studies which pour over the entrails of HRMís office and industrial rental markets to determine trends in vacancy, rental and operating expenses.