Toronto Office Demographics and Office Rates

Thoughts for those newcomers that are unfamiliar with the real estate market in Toronto.

Downtown West – short streetcar ride from the financial core, mostly cool brick and beam space in a young technology company environment (ie. Web, advertising and media companies) – $30 per square foot per annum
(eg. 1000 sf x $30 psf = $30k / 12 months = $2500 per month)

Financial Core – expensive but a typical mix of financial services, insurance, law firms, accountants etc. – $40 to $60 psf

Downtown East – buildings are spread out but mostly brick and beam / tech users. Limited supply of office space – $25 psf

Downtown North – less expensive traditional office buildings with great transit access. For those companies on a bit of a budget that can’t afford the core. – $30 to $40 psf

Midtown – affordable buildings with transit access.  Caters to smaller tenants of 1000 to 5000 sf. $25 – $35 psf

North Yonge Corridor – price is similar to the Downtown north with great transit access and direct access to highway 401.  Busy neighborhood with a mix of large and small users in newer office towers / buildings. $30 to $40 psf

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