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Toronto Office Market Report Q4 2021

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research article

While Q4 2021 saw strong momentum of economic and office leasing activity in the Greater Toronto Area, the emergence of the Omicron variant forced companies to once again rethink their return to-office expectations as many postpone their return-to-office plans.

  • Absorption for the GTA netted positive this quarter at 751,123 square feet, mostly attributed to the delivery of predominantly pre-leased new supply projects in the Downtown East market. Menkes’ LCBO Tower and both Waterfront Innovation Centre buildings were completed, totaling 1.2 million square feet of new inventory.
  • GTA vacancy increased by 230 basis points (bps) year-over-year to 8.7%; meanwhile, the amount of sublease vacant space decreased by 262,191 square feet.
  • 2022 is poised to test the viability of hybrid work models in the long run, as landlords and occupiers rebuild confidence in the office as a tool for enabling company growth and longevity.

Toronto Office Market Report Q4 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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Leo Lee

Directeur national Opérations, Recherche | Canada

Toronto West

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