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Finance and insurance firms lead office space take-up in Canada

Average lease size in 2025 was 50% more than in 2021
In December 2025, Royal Bank of Canada signed a lease to occupy 326,000 square feet, or 40.5% of the Simcoe Place office tower in downtown Toronto. Finance and insurance firms have been increasing the size of their office leases. (CoStar)
In December 2025, Royal Bank of Canada signed a lease to occupy 326,000 square feet, or 40.5% of the Simcoe Place office tower in downtown Toronto. Finance and insurance firms have been increasing the size of their office leases. (CoStar)
CoStar Analytics
March 25, 2026 | 12:20 P.M.

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Finance and insurance firms have always been an important source of demand for office space, but in recent quarters their share of total office leasing activity has become even more pronounced.

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News | Finance and insurance firms lead office space take-up in Canada