•The CBD vacancy rate continues its steady decline dropping 40 basis points (bps) to 6.3% this quarter, the lowest vacancy recorded since Q1 2013. Class B vacancy rate in the CBD has undergone a significant decrease year-over-year, compressing 150 bps to 9.5%.

•The LRT became fully operational this quarter, increasing rush hour manageability from East to West. It will be interesting to see if LRT sub nodes experience an increase in asking rental rates.

•National Capital Commission has green lit the first phase of “Building LeBreton” planning to develop mixed-use buildings including office, retail and residential space. A call for proposals to develop this land will be announced in early 2020.