27 Apr 2011

Office space continues to dwindle in Toronto

A new report is making it abundantly clear that if people in the Toronto area want to rent or lease office space, they better do so quickly.

According to Avison Young, Canada's largest commercial real estate company, demand for local office space has increased steadily since the end of the recession in 2009, with activity being particularly robust in the downtown and midtown portions of the GTA. For instance, the downtown Toronto area posted an 8.9 percent office availability rate, a two-year low, with vacancy rates even lower at 6.6 percent.

Bill Argeropoulous, vice president and director of research for Avison Young, say the downtown figures testify to the health of the commercial real estate industry.

"All one has to do is look at the successful lease-up of the newest downtown office developments, currently 93 percent leased and climbing," Argeropoulous said.

Should your search for available office space prove unsuccessful, Jiffy Storage serves as a fine alternative. Jiffy is more than a storage unit facility, it's also a workplace. Jiffy Workplace offers office-seekers the space and resources they need to get their jobs done in a quiet, comfortable environment.
 

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