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Greater Toronto Area Office Market Report Q3 2020

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research article

Absorption in Q3 2020 softened to -792K SF, up from -1.4M SF the previous quarter.

  • There was 1.3M SF of new supply introduced, which eased the impact of increased sublet space on the market by adding some positive absorption.
  • The GTA vacancy rate increased 80 bps from the previous quarter to 5.2%.
  • Downward pressure on rental rates has yet to surface despite the jump in vacancy and increase in availability, climbing 5% since Q2 to $21.54 psf.
  • Sustained asking rates are masking other financial incentives being offered to tenants, such as increased tenant inducements and shorter lease terms.

 


Greater Toronto Area Office Market Report Q3 2020

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Pour plus d’informations, veuillez contacter:

Daniel Holmes

Senior Managing Director | Broker

Toronto Downtown

Daniel Holmes is now Senior Managing Director, Office Practice Group, Toronto Region. In his previous role as Senior Managing Director of Colliers Toronto North, he led the sales advisor team, as well as oversaw operations, recruitment, the Eastern Acceleration Advisor Development Program and strategic business development. Daniel’s track record of deeply understanding advisors and clients’ unique challenges and employing diverse strategies to solve them, combined with his experience building successful advisor teams, will be key in growing our office practice group and client base, and reinforcing our dominance in the GTA office sector.

Daniel began his real estate career with Colliers in 2002 as an office leasing broker and completed more than 500 transactions on behalf of national and international clients. Daniel consistently demonstrated a unique understanding of how to approach each client to exceed their unique needs through a use of diverse strategies.

 

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Leo Lee

Directeur national Opérations, Recherche | Canada

Toronto Downtown

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