GTA COMMERCIAL REALTY – Is your business looking for premium office or commercial space with state-of-the-art building technology, scenic views and cutting-edge conference areas?
It might be smart to start your search right here in the GTA.
According to a recent piece in the Globe and Mail, Cushman & Wakefield Canada Ltd. Predict that Toronto will lead North America next year in developing new “Class A” office space – meaning modern, efficient and centrally-located office spaces within the downtown core.
The Globe’s Beverly Smith writes that commercial office properties are selling well not just in Toronto, but all across the country:
Mark Rose, chief executive officer of Avison Young Inc., says “the rest of the world would love to have these demographics and attributes.” Vacancy in 12 Canadian office markets sat at 7.1 per cent, but by comparison, the 17 U.S. office markets monitored by Avison Young displayed a vacancy rate that was more than double: 15.1 per cent.
That’s a pretty good indication that commercial real estate markets like Toronto’s are a red-hot opportunity for either property investors, or savvy business owners and property managers.
Looking for an office investment that won’t break the bank? “Class B” office buildings – slightly older spaces located midtown – are also on fire in Toronto, currently sitting at their lowest vacancy rate in 25 years according to the same Globe and Mail article cited above.
Searching for a commercial space can be tough because not only is it a significant investment, but you’ve got to find a space that works for you, your organization and of course your employees and customers (if you do plan to use it). If you’ve got any questions or want to take a look at some commercial property listings, feel free to contact our IC&I team today.