Ongoing increase in market activity

The third quarter of 2021 showed signs of continued optimism with an ongoing increase in market activity for both leasing and sales. While activity levels were higher, total absorption for the quarter resulted in a 0% change in overall market vacancy. The financial and government districts saw a 0.3% increase and 0.5% decrease in vacancy respectively. Owner-user sales, not-for-profit organizations and non-traditional space conversions drove a great deal of the activity during the third quarter of 2021. When compared to the same period last year, 2021 has shown a 20% increase in transaction volume and a 64% overall increase in square feet transacted year-to-date for the Avison Young Office Team.