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Toronto Office Market Report Q2 2022

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research article

In Q2 2022, the uncertainty of both the economic climate and the future of the office in corporate strategies continued in a way that may feel familiar for landlords, tenants and industry professionals who have been enduring these conditions for the past two years.

  • Across the Greater Toronto Area, 1 million square feet of negative absorption were recorded, and while vacancy grew to 9.6% this quarter, it should be noted that the curve of post-COVID vacancy growth is flattening.
  • Downtown sublet availability as a proportion of total availability peaked at 41.7% in Q1 2021, and has now returned to pre-COVID levels at 22.6% in Q2 2022.
  • Downtown office occupancy increased to 27% of the pre-COVID normal, but employers who are intent on mandating a return to office have faced challenges with the enforcement of these policies.
 

Toronto Office Market Report Q2 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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Adam Jacobs

Senior National Director, Research | Canada

Toronto Downtown

Colliers Canada's head of research, leading a cross-country team of 20 mapping, analytics and research professionals. Formerly head of Canada research at Cushman Wakefield and Director of Analytics at Oxford Properties. Featured in mainstream publications such as the Toronto Star, industry publications and podcasts. Specializing in the big picture and the fundamentals driving real estate - demographics, the macro environment and the global economy. 

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