Toronto\u0027s highly coveted \u0027Class A\u0027 office towers took a hit in Q1 as companies reassessed their office space needs. Read more.
Highly coveted “Class A” office towers, which are typically more prestigious locations with more tenant offerings that rent for above-market rates, took a hit in the first quarter as companies reassessed their office space needs.
The tech company initially planned to take up 254,000 square feet of the space with an option to expand into another 433,752 square feet, but opted to develop its current location at the King Portland Centre instead.Article content Jonathan Peretz, JLL’s managing director for the Greater Toronto Area, said he’s seeing companies call back their employees for three to four days a week and scouting the office market for higher quality spaces with more amenities.
While downtown vacancies ticked up in the first quarter, even more space opened up in outlying regions of the GTA.
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