Office Market Review

Supply Q1 2023

It has been noted that office space that has been on the market for quite some time is slowly being taken up, often by tenants that have been displaced, due to the refurbishment of their current building. Therefore, supply is indeed dwindling and prospective tenants need to become more creative when starting their search.

Looking to see which anchor tenants are moving to new premises, which in turn will free up substantial space in their current building, is one way to source possible bargains. Alternatively, rooting out those opportunities for break-lease cases, where existing tenants are looking for replacement occupiers, are becoming more important.

Supply is dwindling and prospective tenants need to become more creative when starting their search