CBRE Report Says Office Vacancy Rate in Q2 Rose to Highest Level Since 1994

Office towers, condos and apartment buildings are seen in downtown and the west end of Vancouver, on Jan. 19, 2023. The Canadian Press/Darryl Dyck

The national office vacancy rate in Canada climbed in the second quarter to its highest level since 1994, according to a report by commercial real estate firm CBRE.

The firm said Tuesday that the national office vacancy rate rose to 18.1 percent in the second quarter, up from 17.8 percent in the first quarter.