Increased office vacancies offer chance for growing companies to expand

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A number of growing companies are searching for new offices even as the pandemic has forced closures and downsizing elsewhere. Some businesses are shifting to larger offices months or years, simply because market conditions are so favourable.

TORONTO -- When COVID-19 began spreading across Canada, the newly formed Broken Heart Love Affair creative agency had set up in a Toronto lightbulb plant-turned office building originally built in 1908.

Some businesses are shifting to larger offices months or years before they anticipate outgrowing their current locations. simply because market conditions are so favourable. With more commercial space available, prospective tenants have gained negotiating power. That grew to 14.6 per cent for the first quarter of 2021, up from 10.3 per cent at the same time last year, which covers the period before the worst of pandemic's economic effects hit.

While continuous shifts in COVID-19-related public health measures make it difficult to offer an outlook for the sector, Ramscar says the gradual reopening of the country will lead to decreased rates in areas like Toronto. While Dabrowski and his colleagues weren't in the office during the pandemic as much as they were prior, he was confident the team would want to return when vaccination is widespread and restrictions ease.

 

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yeah that's one way of looking at it

Hogwash Increased vacancies shows the economy is collapsing.

haha so yay for illegal and unjust closing of business’s.

Wish my husbands union would do this. We’d both sleep better knowing he’s safe

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