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Canada's industrial and multi-suite residential real estate remained resilient during Q2 2020: Morguard
Canada's industrial and multi-suite residential real estate remained resilient during Q2 2...
About this update from Morguard Corporation
[{"type":"text","content":"\n\n\n\nCanada's industrial and multi-suite residential real estate remained resilient during Q2 2020: Morguard\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMISSISSAUGA, ON, Aug. 27, 2020\n\n\n\nUneven economic recovery across Canadian provinces expected to begin in the second half of 2020. Measures taken by the Bank of Canada helped stem the tide and lay the foundation for recovery.Morguard Canadian Economic Outlook & Market Fundamentals Second Quarter Update 2020\n MISSISSAUGA, ON, Aug. 27, 2020 /CNW/ - During the second quarter of 2020, some segments of the Canadian commercial real estate industry remained resilient. While the office leasing market softened between April and June, the industrial and multi-suite residential segments performed at healthy levels. In the interim, the retail property segment continued to struggle as restrictions imposed due to the COVID-19 pandemic forced non-essential retailers to close. Investors will continue to be selective when acquiring Canadian commercial investment properties over the near term, according to the latest Canadian Economic Outlook and Market Fundamentals Report issued by Morguard Corporation (\"Morguard\") (TSX: MRC).\n\"The economic slowdown resulting from the pandemic impacted the commercial real estate sector and investor decisions during the second quarter of 2020,\" said Keith Reading, Director, Research at Morguard. \"Canada's economic recovery from the downturn is expected to unfold with a large degree of unevenness in the second half of 2020 as local governments take a phased approach to reopening with caution.\"\nCommercial Real Estate\nIn the office segment, leasing supply fundamentals softened during the second quarter of 2020, driven in part by restrictions implemented as a result of the pandemic. The national vacancy rate remained at a healthy 10.8 per cent for the office segment, however, downtown cores in major cities experienced an increase in sublease availability. \nAs physical distancing measures were reinforced during the second quarter to reduce the spread of COVID-19, a ...