Cushman and Wakefield just released their mid-year report on office space. For the second year in a row, Toronto has experienced negative absorption. Negative absorption simply means that at the end of the year, more space is available than at the beginning.
Toronto, however, did experience new office tower construction. The Bay & Adelaide Centre just opened last year. The Telus Tower and the new RBC Centre were completed in 2009 as well. . This has created a negative absorption – while the overall uptake of office space was positive.
This is also the reason why its still a landlord’s market. The negative absorption is supposed to end in 2011. It is therefore time to obtain an office from Officeexec. Our prices take into account our strong relationship with Toronto’s major office landlords, and are not affected by seasonal swings. Our price per square foot is usually lower than what a small business could negotiate, and we translate those savings back to you.