Avison Young and Devencore will come together under the Avison Young banner to deliver commercial real estate brokerage and advisory services.

The office availability rate inched above 12 per cent in downtown Montreal during Q4 2020, closing out a year when tenants gave up more than 1.3 million square feet of space through sublets or non-renewals.

Confidence in industrial markets has also slipped since 2020 began, but still hovers on the up side of neutral on both sides of the Canada-U.S. border.

The buyers plan to make significant investments to redevelop the iconic building.

Rob Renaud brings over 23 years of commercial real estate advisory and brokerage experience.

Terrence Philps has joined Devencore's Victoria office as vice president, associate broker. He brings over 22 years of commercial real estate experience.