Post-secondary schools snapping up empty GTA office space: report

Availability in the Greater Toronto Area’s office market was flat in the third quarter, according to a new report, marking one of the few occasions the metric has held steady in recent years.

Avison Young released its GTA office market report for the third quarter last week. It found the overall availability rate came in at 18.1 per cent and noted the availability rate for offices has been on an upward trend since 2020. 

“This marks only the third time since Q1 (first quarter) 2020 that availability has remained flat quarter-over-quarter. Otherwise, it has consistently risen since the onset of the pandemic,” the report said.

“Stakeholders will be eyeing the market to see whether this key metric may stabilize or even begin to decrease in coming quarters.”