A recent study by Colliers International states that Downtown Toronto has never had a lower vacancy rate. Right now, Downtown has a 5.1% vacancy rate—its lowest since 2001’s 4.0%.
In the office market, Toronto currently ranks in seventh place in terms of the lowest vacancy rates in North America. Downtown Toronto is where the economy is booming—and you want your company to benefit from the economic boom when all of it happens.
In fact, around eight office development projects are currently under construction in Downtown Toronto with a total of five million square feet for office occupancy. Most of this has already been pre-released. This is evidence that Downtown Toronto is, indeed, becoming the top choice of companies to relocate and move into. There are also fifteen more project development sites that will be available for pre-lease.
Downtown Toronto is home to more than 10,000 professionals. This is where you can look for a talented and competitive workforce to achieve your organizational goals. With the major draw of accessible public transit, the younger generation is indeed being drawn to move to Downtown. Even the big companies—Google and TELUS—have moved into Toronto’s core, realizing the talent pool welling in the area.
If you’re a retail company, there’s all the more reason for you to move downtown. With the spending power of younger professional Canadians, you will make your business available to a wider market segment.
Moving into a new office space, in an entirely new part of the city or country will be complicated. From the complex legal work to the renovation of the space you will be moving into, there are several issues you will have to face for a smooth transition to your new space. Although the steps involved may seem overwhelming at first, this should not stop you from expanding the potential of your business. Instead, contact a Toronto based corporate relocation and space design consultant. Your consultant will help create and navigate all of the necessary steps of your seamless relocation project plan.
DJ McGauley & Associates is a trusted name in the industry. Our experience and expertise in relocation and renovation is bested by none. After all, don’t you want the best relocation specialist as you plan to move to the best area for your business?