Over the past two years, a record amount of office leases expired in Canada, compounding the sector's challenges. In 2023 and 2024, roughly 15 million square feet of office space came up for renewal each year. This compares to around 9 million and 11 million square feet of leased office space that rolled over in 2021 and 2022.
CoStar Insight
Wave of expiring office leases expected to peak in 2025
After two record-setting years, office lease expirations are set to rise even higher this year
CoStar Analytics
January 15, 2025 | 5:43 P.M.
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