In this episode of the Espace Montreal Podcast, Axel Monsaingeon sits down with Lloyd Cooper, Executive Vice Chair at Cushman & Wakefield, to unpack the new era of downtown Montreal's office market. With 40 years in the business and over 4,000 transactions under his belt, Lloyd explains why 2025 is a record year for office leasing, why work-from-home and hybrid models are being pushed back, and how a powerful "flight to quality" is reshaping which buildings win or lose. They dig into how law firms and banks are using high-end buildouts and rich amenity packages to attract top talent, why there is a critical shortage of true Triple-A space, and where the best redevelopment and mixed-use opportunities are emerging downtown. Lloyd also shares his take on Montreal's new administration, the importance of density and zoning flexibility, and how regulatory shifts, homelessness, and political uncertainty all play into investment decisions. If you want a clear, on-the-ground read of what's really happening in Montreal's office core—and where the next big towers should rise—this conversation is packed with insight.
Topics & Timestamps
⏱️ 00:01:03 – Lloyd's background & track record
📊 00:01:53 – 2025 deal volume & market activity
🏠 00:03:09 – Post-Covid office comeback & RTO
🧬 00:04:11 – Culture, mentoring & why WFH is slipping
🏢 00:05:27 – Flight to quality in office buildings
🧺 00:06:04 – Amenities as a magnet for talent
🏛️ 00:07:05 – Upgrading "old" Triple-A towers
⚖️ 00:09:29 – Law firms, big TI spend & slick offices
💸 00:14:09 – Triple-A rents, incentives & tenant leverage
📑 00:15:51 – Renewal strategy while waiting for new product
🏙️ 00:18:28 – New city administration & development tone
📐 00:21:16 – Zoning, density & mixed-use requirements
📍 00:26:00 – Key downtown development sites to watch
🧨 00:29:49 – Politics, uncertainty & "wait and see"
🎙️ 00:30:40 – Final takeaways on frustration & opportunity
Lloyd's LinkedIn: https://www.linkedin.com/in/mtlofficespace/
Web: https://www.cushmanwakefield.com/
If this conversation brought you value, share the episode with a colleague or friend in real estate who would benefit from Mike's insights. It helps the show reach more people in the Montreal CRE community.
Visit https://www.e5pace.com for more resources, market guides, data, and advertising opportunities
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