20 Sep 2011

Office vacancy rates fall to 10 percent in Toronto

While residential property purchases are increasing in the GTA, demand for office space is also on the rise, a new report indicates.

According to commercial real estate services firm Cushman and Wakefield, vacancy rates fell from 10.5 percent in the second quarter to 10 percent in the third quarter in Toronto.

Paul Morse, senior managing director of office leasing for the commercial real estate organization, said office space in downtown Toronto is particularly hard to come by.

"The overall strength and vitality of the downtown core remains solid and we expect this trend to continue as financial institutions' demand for office space moves toward a more normal market and head office activities from other sectors choose to consolidate and expand in the core driven by proximity to labor, transportation and rising costs of commuting," said Morse.

But it isn't just Toronto that's seeing a surge in office space demand – the trend is occurring throughout the country. National vacancy rates fell from 10.4 percent from April through June, to 9.9 percent for July through September.

This is precisely the market Jiffy Self Storage services. Jiffy Workspace gives businessowners the extra room they need to maximize work productivity.  

Be Sociable, Share!
Comment

Related Articles [3]

Self-Employed? How a Storage Unit Can Benefit You

January 28th, 2021
Do you own a business or brand? Are you self-employed and looking for some extra space for your business needs? If this sounds like you, then a storage unit can easily be the...

Benefits of Using a Storage Unit as an Office

December 27th, 2019
Modern businesses are looking for new and unique ways to cut costs and maintain quality services for their customers. One of the areas many small businesses overspend on is...

What Are Mobile Office Containers and Trailers?

May 21st, 2018
When you are running a business,sometimes you can find yourself needing short-term (as opposed to permanent) office space. This can be due to renovations going on that...

Hammad Assan joined Jiffy Self-Storage in June 2012. He has over 20 years of experience in various Customer service, Sales and Management roles and is a Certified Self-Storage Operator through the Canadian Self Storage Association. His passion for sales and customer service has maintained Jiffy Self-Storage’s position as one of the GTA’s most successful Storage Facilities, as recognized by winning the Consumer Choice Award 22 years in a row, a perfect A+ rating with the BBB with zero complaints and a 4.5/5 Star Review rating on Google. Our tenants greatly appreciate his dedication to exceptional customer service and as a result Jiffy Self-Storage has been recognized and awarded for that. Please contact Hammad about any of your storage, parking, workspace or retail unit needs.

Leave a Comment






Recent Posts Blog Categories Archives Subscribe to RSS Feeds
Essential SSL