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Toronto Office Market Report Q2 2021

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research article

With lockdown restrictions still in place for the majority of the second quarter of 2021, the GTA office market continues to see upticks in availability and vacancy across its major submarkets.

  • The delivery of seven new development projects across the GTA brought about a total of 1.8 million square feet of new office supply to the market, most notably CIBC Square’s 1.5 million square feet of AAA Class inventory.
  • As opposed to listing activity trends over the past year, the volume of new sublease listings has slowed this quarter, with the proportion of sublease availability falling from 28.4% last quarter to 25.7%.
  • Average asking net rental rates for the GTA increased by 6.7% to $23.31 per square foot since last quarter, due to a greater proportion of high-quality space with higher rents coming available.

Toronto Office Market Report Q2 2021

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Pour plus d’informations, veuillez contacter:

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.

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Roelof van Dijk

Senior Director, National Research & Analytics | Canada

Toronto Downtown

As Senior Director, Research & Analytics | Canada, Roelof leads the strategy and operation of Colliers Canada Research, delivering market intelligence initiatives that give Colliers and its clients a competitive advantage. He focuses on developing a high-performance national research team that leverages Colliers’ best-in-class market intelligence to produce relevant insights on local and national market and industry trends that inform client decisions, address market needs and support Colliers’ growth strategies.

Roelof has 15 years of experience covering the Canadian commercial real estate market. Prior to his career in commercial real estate, he also worked as a project manager and urban planning consultant for residential developers across the Greater Toronto Area.

Roelof is regularly cited in national publications, such as The Globe & Mail, CBC News, Bloomberg, Reuters, Maclean’s Magazine and the National Post, as well as in local outlets across Canada.

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