New year, familiar market fundamentals
In the first quarter of 2021, the Greater Toronto Area (GTA) office market continued to exhibit market trends in line with the preceding three quarters. The vaccine rollout remains a notable point of optimism against a backdrop of rising COVID-19 cases in the City of Toronto and Ontario as a whole. On April 1st, the Ontario government announced new lockdown measures that will last for at least 28 days, following the declaration of a third wave in March. Government action and forecasts will continue to be a point of focus for landlords and tenants alike, as planning for re-entering the workplace continues to evolve.