With potential second wave of COVID-19 looming, the Toronto office market sits in "wait-and-see" mode
The Greater Toronto Area (GTA) office market continued to grapple with pandemic impact throughout the third quarter. With more than six months passed since the declaration of a State of Emergency in Ontario in mid-March, tenants and landlords alike still face significant levels of uncertainty looking forward. A partial claw back of the summer’s loosened lockdown measures has been put into effect in concert with Government expectations for increasing COVID-19 case numbers in the fall and winter months. Tenant approaches to the pandemic have varied, as many tenants have begun to re-enter the workplace, while others have taken a slower work-from-home focused approach that will last into 2021.