Greater Toronto Area Office Market Report Q3 2020

Rapport de téléchargement

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

Rapport de téléchargement
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.

 

Voir l'expert

Madeleine Nicholls

Managing Director, Brokerage | Greater Toronto Area

Toronto Downtown

Madeleine is Managing Director of the GTA and joined Colliers in March 2020. Prior to that she worked at Dream heading up the National Retail Division, and prior to that worked  with several major Landlords across Canada, as well as in brokerage. Madeleine is a global citizen having traveled and lived abroad most of her life.  Madeleine looks to the best in class worldwide examples of commercial real estate to bring the best in the world to our practice. 

Madeleine has extensive experience working on some of the pre-eminent developments in Canada.  She has successfully leased up of a variety of mixed use and retail projects ranging in size from urban retail to 73 acre retail/office/residential mixed use developments.  She has exceptional tenant relationship management and expertise in redevelopment of properties to maximize value.

Madeleine has expertise at all levels of new business development from strategic planning and acquisitions to prospecting, pitching, negotiating offers and leases, and build out of space.  Innovative business developer, team leader and mentor with proven ability to inspire and achieve results by creating a collaborative and streamlined environment focused on delivering superb results.  Madeleine has deep connections in the real estate industry and a passion to deliver results that exceed expectations.

Voir l'expert

Jamieson Jackson

Managing Director, Office Practice Group | GTA

Toronto Downtown

Jamie Jackson serves as the Managing Director for the GTA Office Practice Group.  He has been helping to grow the business since September 2020.  

Prior to joining Colliers, he was the Director of the Financial Services practice at Iron Mountain, where he had increasingly senior sales and sales management roles in the financial services and technology sectors.

He also took a 10 year detour into running an internaitonal marketing agency, ending up as the CEO until the entire business was sold and he returned to his selling roots in financial services.

Voir l'expert