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Quality sublet space continues to decline - Q2 2014

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The vacancy rate in the Greater Toronto Area (GTA) remained at 9.4% in Q2 2014. Sublet space continued to drop this quarter but remains at a higher level than experienced in the past four years. Many tenants have traded up from their existing space by opting for more cost effective Class A sublet space, including our DTZ Canada head office in Toronto.

28 office buildings, representing 7.4 million square feet of new inventory were under construction. The majority of new construction was concentrated Downtown (7 buildings, 5 million sq ft) and in the GTA West (16 buildings, 1.6 million sq ft) markets.

Source : DTZ (Groupe UGL)

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Keywords : DTZ