Figures

Toronto Suburban Office Figures Q3 2026

Year-to-date absorption reaches pre-pandemic levels in suburbs

October 14, 2026 5 Minute Read

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  • The overall vacancy rate fell 50 basis points (bps) quarter-over-quarter to 19.6% as continued leasing activity drove absorption.
  • The suburban market recorded approximately 237,000 sq. ft. of net absorption in Q3 2026, marking another quarter of strong positive absorption.
  • Net asking rents in the suburban market decreased by $0.11 per sq. ft. to $18.25 per sq. ft., representing the first decline in a year, as absorption slowed compared to Q2 2026.
  • Sublease vacancy increased 110 bps quarter-over-quarter, diverging from broader national trends. Despite the quarterly uptick, the year-over-year trend remains downward.
  • Class B positive absorption outpaced Class A positive absorption as occupiers sought lower-cost office space.