Density, Lifestyle, Efficiency Good For The Toronto Midtown Office Market
City of Toronto Planning Department conducted a land use study on public and private land adjacent to Eglinton Avenue East/West from Jane Street to Kennedy Road. The program called “Eglinton Connects” culminated in a change to zoning of privately owned properties as well as design and standards set for roadways, public transit corridors, walkways, cycling paths and other public areas.
The Eglinton Connects recognizes the development potential resulting from the Eglinton Crosstown LRT, which is being constructed by Metrolinx, mandated by the Ontario government to expand public transit infrastructure in the Greater Toronto Area with $50 Billion of capital…
Light Rail Transit (LRT) Line A Net Benefit for the Midtown Office Market
Occupants of office space in Toronto’s Midtown office concentration and particularly within the Eglinton Office Node are bellyaching about the traffic congestion and unsightly construction sites dotted along the streetscape of Eglinton from Yonge Street in both directions. In 2011, Metrolinx began construction west of the predominant office density that is centred on Yonge Street over the existing Yonge Subway Line, laying infrastructure to tunnel under Eglinton Avenue West from the western end of the project west of Keele Street.
In Greater Toronto Area a hand-full of landlords control the majority of leased office buildings. The twenty-five largest landlords (by square footage of office space managed) in the Toronto office market have more than half, 54% of the office space in the competitive market under management. The same statistic for A Class office space shows an even greater concentration of properties managed: 62% of existing inventory twenty-five largest landlords of A Class in Toronto office markets.*
However, if you want to be in the best office space in the Toronto Financial Core, which is graded as AAA Class, also known as Bank Towers, there are only 5 landlords: Brookfield, Cadillac Fairview, Oxford, GWL Realty Advisors and…
The North Yonge Corridor is an office sub-market within the Toronto North market that is one of the five major office markets in the Greater Toronto Area. Also sometimes called simply “North Yonge”, it is the strip of Yonge Street that stretches from Lawrence Avenue up to just north of Finch Avenue in North York.
In the major office buildings in the North Yonge Office Node there are 724 separate tenants that occupy office space. There is a huge range of size of office tenants on North Yonge from less than 100 square feet up to more than 300,000 square feet….
Laymen to the office-leasing business in Toronto sometimes mistakenly assume that a sign on an office building in Toronto is that of the company who also owns the building. To the contrary, in most cases a sign on an office building in Toronto is usually reserved for the major tenants of the building, though there are exceptions. In some other jurisdictions in North America, signage is rented on office buildings separately from the lease of office space within a commercial property as though it is advertising space on a billboard. This is rare in any part of Canada.
Signage is often a major negotiation point in an offer to lease…
A sublease on office space might be an excellent, cost-effective solution for office accommodation that satisfies the key criteria in an office search. Most likely the rent on office space under a sublease is far below the rent commanded by a head lease, the office premises being subleased is often complete with leasehold improvements in place and sometimes might even include furniture, phone systems and other fixtures being left behind by the sub-landlord. The length of a sublease term is naturally shorter than a lease term, which could also be a benefit to a tenant that is looking for a shorter length of occupancy.
Though, not to discourage the an office tenant from subleasing, the subtenant should be aware of the fact that in most of the best…
During the night on Saturday, December 21st the climate conditions in the Toronto area caused precipitation that froze on contact with objects on the ground, coating the city with a thick layer of ice. By 2am on Sunday morning the weight of ice on trees caused branches to server and fall onto power lines. This resulted in hundreds of thousands of Toronto Hydro commercial and residential customers being left without power. Freezing rain persisted into Sunday making problems worse so that by the beginning of the workday on Monday, many office workers were without power at their homes and found traveling to the office extremely difficult due to the fact…
Regardless of the type of development, complex or building, rental and lease rates remain consistent in most geographical areas as it relates to the Toronto commercial real estate market including: North York, Richmond Hill, Thornhill, Oakville, Burlington, Brampton, Aurora, Pickering, Ajax, Markham, Scarborough, Etobicoke, Mississauga, Vaughan and Concord.
Part of the reasoning may be that Toronto offices spaces for lease and rent are accessible for employees, which is an important consideration for corporations when considering what type of Toronto office space to lease or…
In a new office-market report released last week, the downtown Toronto office space vacancy rate was reported to be at 4.2 per cent in the last quarter, down from 4.6 percent.
Proof, say analysts that demand for office space for lease, for rent or for sale, is on a definite upswing in the downtown Toronto Market.
Much of Metro Toronto’s downtown core is made up of areas known as the Financial District or the Central Business District as well as Fashion District, Entertainment District, Distillery District, Church & Wellesley.
Downtown Toronto office space retains its appeal thanks to the ease of access via Toronto’s subway system. The Yonge Subway, University Subway, Spadina Subway, Bloor Subway, Danforth Subway, Sheppard Subway, GO Train and the GO Bus all offer direct access to landlords, tenants and developers who are concentrated in the downtown market.
The recent release of Toronto Office Space leasing information by GTA Commercial Realtors shows a reason for optimism in the market. That includes goods news for those in the search for Toronto office space for lease or rent