Q1 2025 TORONTO OFFICE MARKET REPORT

WORKPLACE

The Greater Toronto Area office market continues to experience a shift, with space delivery outpacing tenant demand. Vacancy rates have climbed to 16.2%—up from 15.5% just last quarter—yet landlords are holding firm on net rents, now averaging $23.09 per square foot. So how are deals still getting done?

Read our Q1 2025 Office Market Report for more information on how the market has been trending and how tenants can leverage current market conditions.

April 25, 2025

TRANSACTION MANAGEMENT