Downtown Office Tenants want Less of a Good Thing

CBRE Toronto, Downtown Office Market Snapshot

By: Masha Dudelzak, MBA Senior Research Analyst, Toronto
With a total 5.4 million SF under construction in downtown Toronto, the city is experiencing a construction boom the likes of which it has not seen since the late 1980s and the early 1990s. Even the last major office development cycle, which saw 4.4 million SF completed between 2009 and 2011, pales in comparison. Square footage aside, the current development cycle differs in one important way from the last office construction boom – relocating tenants are taking less space than they previously occupied.
 

on June 27, 2013