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Timing of New Supply Further Boosts Toronto Office Vacancy

Holes Form in Market as Tenants Bolt From Old Office Space to New Construction
Pictured is The Well in downtown Toronto. (Marcus Oleniuk/CoStar)
Pictured is The Well in downtown Toronto. (Marcus Oleniuk/CoStar)
Market Analytics
January 24, 2023 | 9:21 P.M.

Going into the pandemic, Toronto’s downtown office market was a different world, with vacancies sitting around 2%.

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