•The unemployment rate decreased 40 basis points (bps) to 5.9% in Toronto between May and June of 2019. This represents an addition of 9,600 jobs.

•Class A net rents in the Financial Core submarket came in at $40.05 per sq. ft. This is a record high and represents a 3.6% increase quarter-over-quarter.

•King Portland Centre, located at 602 – 620 King Street West, has completed construction this quarter. The joint venture between Allied Properties and RioCan is introducing 255,565 sq. ft. of new inventory to the Downtown West submarket. This project is 100% leased by Shopify and Indigo.

•160 Front Street West officially broke ground this quarter. The 46-story tower is currently 100% leased by TD Bank of Canada and Ontario Teachers’ Pension Plan.

•The Suburban market encountered a negative net absorption of 534,340 sq. ft. leading to a 70 bps increase in overall vacancy to 12.9%. This was primarily due to the Highway 10 & 401 and the Meadowvale submarkets experiencing 147,181 sq. ft. and 181,698 sq. ft. of negative net absorption respectively.