- The downtown office market experienced 231,624 sq. ft. of negative absorption in Q2 2020, increasing the vacancy rate by 50 basis points to 27.0%.

- Looking forward, we expect more layoffs and increased vacancy in the downtown core due to an increased amount of consolidation of small to mid-cap energy companies.

- The end of government aid packages will put further pressure on companies to remain operational, particularly those with weaker balance sheets pre-COVID-19.