REMI: Office-using sectors show relative resilience
Except for retail properties, the Canadian commercial real estate market was on firm footing heading into the COVID-19-triggered lockdown. Driven by an insatiable appetite for logistics and warehousing space, the industrial market was setting historical benchmarks in availability, rental rates and new construction. The downtown office market was experiencing robust demand from a thriving tech sector, while leasing activity in transit-oriented suburban markets was strong.
