First, credit where it’s due – these links are from Morning Brew – one of the very few but great daily mailers I subscribe to and recommend! If you only click on 4, here are my favourites!SMART Goals – Specific, Measurable, Attainable, Realistic, TimelyWarren Buffett’s “2 List” Strategy – How to Maximize Your Focus and […]
As the Canadian commercial real estate market strives for stability amid the challenges of rekindling workplace confidence in the post-pandemic era, the tech sector emerges as a dynamic player with a profound impact. Tech giants, including Shopify and Dell, have made strategic decisions regarding in-office work, while companies like Zoom and Salesforce are mandating a return to a more progressive work environment.
Toronto Office Market Report Q3 2023 – The Greater Toronto Area (GTA) reached a brief period of stabilization during the third quarter, specifically in the Downtown and Midtown markets where vacancy declined from a record high in the last quarter to 10.9%, a 20-basis point (bps) decline quarter-over-quarter (QoQ).
While Q4 2021 saw strong momentum of economic and office leasing activity in the Greater Toronto Area, the emergence of the Omicron variant forced companies to once again rethink their return to-office expectations as many postpone their return-to-office plans.
Absorption for the GTA netted positive this quarter at 751,123 square feet, mostly attributed to the delivery of predominantly pre-leased new supply projects in the Downtown East market. Menkes’ LCBO Tower and both Waterfront Innovation Centre buildings were completed, totaling 1.2 million square feet of new inventory.
GTA vacancy increased by 230 basis points (bps) year-over-year to 8.7%; meanwhile, the amount of sublease vacant space decreased by 262,191 square feet.
2022 is poised to test the viability of hybrid work models in the long run, as landlords and occupiers rebuild confidence in the office as a tool for enabling company growth and longevity.
Great article found here – https://theconversation.com/in-a-lockdown-where-does-work-end-and-parenting-begin-welcome-to-the-brave-new-world-of-zigzag-working-169088 Employers might also consider tweaks for lockdown working, including: Recognising that working parents may be frequently interrupted, prolonged periods of “focused time” do not exist, and there is no such thing as “complete silence” Not starting online meetings exactly on the hour, when school class sessions typically start Checking […]
