Greater Toronto Area Office Market Report Q4 2019

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research article

The GTA market saw a surge in absorption recorded at 696,942 SF as compared to 290,012 SF the previous quarter.

  • The vacancy rate decreased 10 bps to 4.0% and the average asking net rental rate increased 5.4% YoY to $20.51.
  • Moreover, the vacancy rate in the Downtown market decreased 10 bps, reaching 1.1% in Q4 2019.
  • There were seven development projects completed this quarter, bringing to market 312,592 SF of new supply.
  • Five of the projects were located in the suburban markets, with the majority of space coming online fully leased. There remains 8.7M SF of office space remaining in the development pipeline.

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Greater Toronto Area Office Market Report Q4 2019

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For More Information, Please Contact:

Daniel Holmes

Executive Managing Director | Greater Toronto Area

Toronto Downtown

Daniel has been the Senior Managing Director, Office Practice Group for the Toronto Region since 2016, previously serving as the Senior Managing Director of Colliers Toronto North. In these progressive leadership roles, he has led sales advisor teams, and overseen 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 Colliers’ preeminence 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. This experience has served as the foundation of his understanding of the industry, as well as the needs of his team, and their clients.

 

 

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