Six stories in the news for Tuesday, March 13———PM TRUDEAU CONTINUES FACTORY TOURSJustin Trudeau continues his cross-country tour of aluminum and steel factories with stops today in Hamilton. The prime minister will meet with workers at Stelco Hamilton Works and join a roundtable discussion before heading to the ArcelorMittal Dofasco plant. Trudeau wants to show support for workers in light of threats of tariffs from the U.S. Trudeau began his tour in Quebec yesterday and will later visit Sault Ste. Marie, Ont., and Regina.———U.S. PRESIDENT TRUMP WANTS A QUICK NAFTA DEALPresident Donald Trump called for the quick completion of the NAFTA talks in a phone call with Prime Minister Justin Trudeau on Monday, amid indications the U.S. wants a deal wrapped up this spring. Trudeau told CNN’s Anderson Cooper that he recognizes the American side “is eager to get forward motion on NAFTA” and that Canada shares that view.———RESIDENTIAL SCHOOL FIGHTSurvivors of a notorious Ontario residential school square off against the federal government today and tomorrow in another legal battle over document secrecy. They want Ontario’s top court to order a review of all the compensation claims adjudicated before the government disclosed thousands of documents from a 1990’s investigation. The documents are from dozens of lawsuits related to physical and sexual abuse that more than 150 Indigenous people suffered at St. Anne’s school in Fort Albany.———BELGIAN ROYAL VISIT CONTINUESKing Philippe and Queen Mathilde of Belgium continue their week-long state visit to Canada today. Their agenda includes the lending of a Belgian cannon from the First World War to the Canadian War Museum. The royals began their visit yesterday with several events, including the placing of a wreath on the Tomb of the Unknown Soldier at the National War Memorial to honour Canadian soldiers who fought for the liberation of Belgium in two world wars.———BOMBARDIER TO ASSIST CRASH PROBEBombardier Inc. is sending two officials to Nepal today to help investigate one of two deadly crashes involving its Q400 turbo and Challenger business jet. The first crash in Iran on Sunday involving a Challenger jet killed 11 people and 49 people died Monday when a Q400 crashed in Nepal. A Bombardier official says both planes are “safe and reliable” and that the crashes happening back-to-back were an “unfortunate coincidence.”———FEDERAL SUPPORT FOR VETERANS’ SERVICE DOGSMilitary veterans are celebrating a little-noticed promise in the most recent federal budget: that “psychiatric service animals” will be added to the list of medical items Canadians can claim as a tax credit on income-tax forms. It comes after a government-commissioned study indicated that dogs can be extremely helpful for those suffering from post traumatic stress disorder and other invisible injuries.———ALSO IN THE NEWS TODAY:— A Speech From the Throne will open the third session of the 48th general assembly in Newfoundland and Labrador.— Status of Women Minister Maryam Monsef attends the UN Commission of the Status of Women in New York.— Statistics Canada will release the Canadian Income Survey for 2016 and trade by importers.— Kirsty Duncan, minister of Sport and Persons with Disabilities, will make a major sport announcement in Toronto.
TagsCommercial Real EstateCoronavirusoffice marketWeWork Share on FacebookShare on TwitterShare on LinkedinShare via Email Share via Shortlink Share via Shortlink Covid-19 vaccines are being distributed across the country, but won’t be an instant panacea for office landlords. (iStock)It’s been a rough year for the office market — and it’s unlikely that the first half of next year will be much better.Even though Covid-19 vaccines are being distributed across the country, public health and real estate experts believe that a return to the office likely will not happen until late spring or early summer, the Wall Street Journal reports.Experts say that it will take months for the vaccine rollout to become effective and for employees to reach herd immunity, meaning remote work will continue in the next year and office rents will continue to drop.The real estate firm CBRE projects that office rents could fall by as much as 8 percent in 2021.ADVERTISEMENTIn the meantime, landlords are dealing with mostly empty offices. An average of about 23 percent of workers in 10 cities had returned to the office the week of Dec. 16, according to Kastle Systems, which tracks access-card swipes. The highest rate since the pandemic was 27.4 percent in mid-October, Kastle said.Some companies are planning their return to the office in light of the promising vaccine news. In New York, 25 new tenants per week were searching for office space in the first two weeks of December, up from 20 per week in November, according to the data firm VTS.Many of these companies are considering leasing space from co-working operators such as WeWork and Industrious, according to the Journal.[WSJ] — Keith Larsen