From Name

From Email

To Name

To Email

Message

Price of downtown Toronto office space drops in second quarter

from St. Catharines Standard

Price of downtown Toronto office space drops in second quarter St. Catharines Standard Office rents in Toronto and Vancouver fell in the second quarter amid an increase in vacancies and subletting as the coronavirus put the brakes on a multi-year run of tightening supply, says commercial real estate services and investment firm CBRE. “We are witnessing the beginning of a shift in momentum,” CBRE managing director Jon Ramscar said Wednesday after the firm reported a drop in office rents in downtown Toronto of $1.53 per square foot to $35.38 while the office vacancy rose to 2.7 per cent from a record low 2 per cent in the first three months of the year. READ MORE

more