JLL reports Toronto office vacancy rate continues to rise

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JLL reports Toronto office vacancy rate continues to rise
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TORONTO — A new report from commercial real estate firm JLL suggests there may not be any movement on interest rates until the third quarter of 2024 and even then, the market may see fewer cuts than it is hoping for.

In the Ontario office sector, the gap between higher- and lower-grade buildings continues to widen as Class A dominates absorption. Leasing activity in downtown Toronto during Q1 was primarily driven by renewal and sublease transactions, with a notable concentration in the financial core and downtown south nodes.

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