GTA Office Sublease Update

Six months into the COVID-19 pandemic, tenants are considering downsizing, relocating or adopting permanent work-from-home solutions, contributing to the increasing supply of sublet space in the market.

• Of the 1.8 million square feet of new sublet space listed since March 2020, 64% is driven by Downtown listings.
• The Downtown West represents the largest submarket in terms of newly listed sublet space, totaling 457K SF – nearly twice the amount listed in the Financial Core.
• Few transactions are taking place to pick up new availability, which is likely to apply downward pressure on rental rates over the next several quarters.
• Technology tenants continue to dominate the volume of sublet space listed as they are able to quickly adapt to a remote working environment.

GTA Office Sublease Update

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Pour plus d’informations, veuillez contacter:

Daniel Holmes

Senior Managing Director | Broker

Toronto Downtown

+1 416 791 7239

647-567-7940

Courriel

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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Madeleine Nicholls

Managing Director, Brokerage | Greater Toronto Area

Vancouver

+1 604 694 7267

Courriel

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.

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