With the rise of A.I. and hybrid work, there were concerns that demand for office space would weaken. In reality, return to office policies and a growing corporate footprint for some of the country's biggest companies has led to increased demand for office space and a drop in office vacancy rates. New buildings, those with the best amenities, and good locations are in the highest demand. And the industrial vacancy rate (think logistics plants and warehousing) has tightened-- dropping in the GTA to just 2.2%, the lowest in the country. Both are positive signs for the economy. In today's edition of In This Economy?! host Mike Eppel talks the future of office space with Adam Jacobs, national head of research for Colliers Canada.
With the rise of A.I. and hybrid work, there were concerns that demand for office space would weaken. In reality, return to office policies and a growing corporate footprint for some of the country's biggest companies has led to increased demand for office space and a drop in office vacancy rates. New buildings, those with the best amenities, and good locations are in the highest demand. And the industrial vacancy rate (think logistics plants and warehousing) has tightened-- dropping in the GTA to just 2.2%, the lowest in the country. Both are positive signs for the economy.
In today's edition of In This Economy?! host Mike Eppel talks the future of office space in Toronto with Adam Jacobs, national head of research for Colliers Canada.