Class C space is the hottest sector of the Winnipeg office market, with more than 148,000 square feet snapped up in the second quarter compared with negative leasing in both Class B and A properties.
The cost of Class C space is approximately $21 per square foot - the least expensive in the downtown according to a study by Colliers International.
As a comparison, Class A space suffered 8,259 square feet of negative absorption in the second quarter as gross-lease rates averaged $33.25 per square foot. A further 22,100 square feet of Class B space was handed back into the market at an average of $25 per square foot.
Winnipeg now has an overall office vacancy rate of 8.4 per cent, up from 8.2 per cent a year ago.
from Western Investor October 2013
