LIDD Real Estate

Industrial Real Estate Experts & Supply Chain Engineers

  • Home
  • About
  • Services
  • Case Studies
  • Team
  • Blog
  • Contact
  • Français

Top Office Leases Recognized for Greater Toronto

February 23, 2021 by Khadija Chhatriwala Leave a Comment

The impact of the pandemic has resulted in a higher vacancy rate of the office space that climbed to over 6% in Q4 2020. Right now, everyone is watching the sublease market as we are going to see more space being put up for sublease. The suburban office vacancy rose to 15.3%, a 17-year high with over 50% located in the financial core.

The question remains whether how much office space the companies will need in the future. Factors like the attitude towards work change and companies experiencing financial hardship are going to evaluate companies’ needs and put some of their excess space on the market. Still, for many businesses, the office is fundamentally important, and with new vaccines in circulation, the path for a safe return is becoming clearer.

Despite the current dynamics, the Canadian office market exhibited some of the better performances this year and has the lowest availability rate among all comparable markets in North America.

The Bank of Nova Scotia takes away the trophy for this year’s largest office leasing deal so far. It agreed to renew 560,000 square feet of office space in Toronto. But the deal will see 310,000 fewer square feet from owners KingSett Capital and Alberta Investment Management, leaving the top seven floors of a 68-storey tower to rent.

Regardless of the major work-from-home trends in 2020 and 2021, Jon Love, the founder and CEO of KingSett Capital said that the deal had been in the works for over a year and had nothing to do with COVID.

Other Top Office Leases Recognized for Greater Toronto

… Read More

Tags

GTA Industrial Market Facts GTA Industrial Real Estate GTA Industrial Real Estate 2019 GTA Industrial Real Estate Brokerage GTA Industrial Real Estate Market Report GTA Industrial Real Estate Report GTA Market Report Industrial Lease Checklist Industrial Lease Negotiation Industrial Lease Renewal Industrial Real Estate Industrial Real Estate Adviser Industrial Real Estate Broker Industrial Real Estate Costs Industrial Real Estate Evaluation Industrial Real Estate Expert Industrial Real Estate Lease Industrial Real Estate Ontario Industrial Real Estate Representative Industrial Real Estate Review Industrial Real Estate Strategies Industrial Real Estate Toronto Inside Logistics LIDD Consultants LIDD Industrial Real Estate LIDD Real Estate Intelligence LIDD Services LIDD Toronto LIDD Toronto Brokerage LIDD Toronto Industrial Real Estate Market Report Multiple Representation office real estate Ontario Industrial Real Estate Supply Chain Challenges Supply Chain Consultants Supply Chain Consultants Toronto Supply Chain Firm Supply Chain Management Supply Chain Trends Tenant Representation Toronto Industrial Real Estate Toronto Industrial Real Estate Market Report Warehouse Lease Renewal Warehouse Lease Toronto Warehouse Space Lease Negotiation

Copyright © 2017 · LIDD Toronto Brokerage Inc.

Connect with us: Visit LIDD on LinkedIn