A little hesitancy
Posted Oct 18, 2011 05:17:03 AM.
This article is more than 5 years old.
A new report looking at office vacancy rates in Waterloo Region suggests developers have become more hesitant in recent months to sign leases.
Colliers International says “Waterloo Region had a very strong start to the year with vigorous leasing activity in the market. However, activity in both the second and third quarters slowed substantially.”
It says the recent struggles for Research in Motion may be one factor in the slowdown, but the report also says it may just be a sign “of a broader national economic slowdown.”
The report does however see some bright spots on the horizon.
It says, with the challenges at RIM, other research and development and high-tech companies “hungry for space to expand may take advantage of a rare influx of space and a highly skilled labour force.”
It also expects, now that the Light Rail Project has been approved, previously overlooked development opportunities along the planned transit line will be purchased.
