Real Estate:
• According to GVA Devencore, Montréal’s Category A office vacancy rate fell to 3.7% in the 4th quarter of 2007 from 7.1% in 2006.
Come on Westcliff, Hines/Canderel/Homburg Magil-Laurentienneetc,etc...The suspense and the wait is killing us...please start digging and piling for an office tower!!!!
In passing ..more speculative holdings...hmmmm I wonder?????
• Les Affaires reports that Salvatore Iacono has acquired a fifth property in the vicinity of the Bell Centre. Mr. Iacono has acquired a 16 800 sq. ft. property on St. Antoine for $8 million.
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Quote: You can't have everything. Where would you put it?
Steven Wright
US comedian and actor (1955 - )
In fact currently it is really risky to launch any office project in Montreal. The vacancy rate is very likely to raise in the first quarter of 2008 and with the american recession, many expansion projects in many companies are put on hold.
Also, lack of major tenants willing to sign a long terme lease is a major problem.
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