Toronto Suburban Office Figures Q1 2023
April 28, 2023
- The suburban vacancy rate reached a record high of 20.1% during the quarter, having noted a considerable 700,000 sq. ft. of negative net absorption.
- Net rental rates remain relatively stable despite an increasingly vacant market and continued influx of competing sublet availabilities.
- 8750 The Gore Road was delivered during the quarter, introducing 55,000 sq. ft. of Class A office space to the Brampton submarket.
- Prioritized ESG goals impose net rental premium towards LEED certified buildings, however, building age, among a multitude of factors, exhibit large influence on said premium.