- Toronto continues to lead the top 10 North American Central Business Districts with the lowest vacancy rate (1.6%); New York is the second lowest with a vacancy rate of 6.6%.
- Robust demand for flexible, sustainable and high quality space remains a common denominator across the GTA, spurring new office developments in attempts to satisfy demand.
- Cadillac Fairview announced the construction of 160 Front St W a 46-storey office tower featuring 1.2 M SF in the heart of the Financial Core that is scheduled to open in Q3 2022.
- Rental rates in regions located near major transportation systems coupled with new retail completions or improvements continue to climb faster YoY than their counterparts in less-accessible areas. Downtown asking net rents grew by 6.1% YoY, while the GTA West and Midtown continued to see modest growth (3.5% and 1.3%).
