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Toronto Office Market Report Q1 2022

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research article

While anticipated returns to office for January 2022 were delayed due to the Omicron outbreak, COVID-19 cases fell steadily throughout Q1 2022, and office attendance bounced back from the post-Omicron lows of early January, motivating institutional and government employers to set firm return to office dates for upcoming months in a variety of hybrid capacities.

  • Despite construction and move-in interruptions over the past two years, new supply reached a 10-year high in Q1 2022 with the addition of 1.8 million square feet of A-class inventory to the Downtown market.
  • Downtown rents marginally increased by 0.7% year-over-year to $36.75 per square foot (psf). Suburban average rents increased 3.3% year-over-year, to $17.13 psf. For the GTA as a whole average asking net rental rates climbed to $25.04 psf, a 13% increase year-over-year, reflective of a greater proportion of available space located in the Downtown market.

Toronto Office Market Report Q1 2022

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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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