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Five-star office space tightens sharply as demand rebounds

Downtown Toronto availability drops year over year as large deals pick up
Tenants have leased more than 360,000 square feet in the past year at Carttera's 530 Front Street West, known as Portland Commons, a 580,972-square-foot office building completed in 2024.
Tenants have leased more than 360,000 square feet in the past year at Carttera's 530 Front Street West, known as Portland Commons, a 580,972-square-foot office building completed in 2024.

Office availability in downtown Toronto's five-star-rated office buildings has tightened to 5.4%, its lowest in the past decade, marking a sharp reversal from post-pandemic highs.

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