• The Halifax office market recorded its third straight quarter of positive net absorption, with 46,693 sq. ft. of space taken off the market in Q4 2019.

• The overall market vacancy rate decreased 40 basis points (bps) on the quarter, down to 15.5%.

• The Halifax office market saw overall asking net rents increase $0.05 per sq. ft. quarter-over-quarter, as net rents jumped $0.20 per sq. ft. since year end 2018, up to $14.86 per sq. ft.

• The Armour Group continues construction on their waterfront development, the “Queen’s Marque”. The 450,000 sq. ft. mixed use building is set to add 120,000 sq. ft. of office space to the market, with major tenants including Stewart McKelvey and Deloitte.