•Toronto’s job market continues to remain healthy as the unemployment rate came in at 5.6% for December of 2019. According to Statistics Canada, this represents a 60 basis points (bps) decrease from January of 2019.

•Record market fundamentals present in Toronto’s downtown core has led the overall vacancy rate to compress by 10 bps quarter-over-quarter to a record- low 2.0%. Since Q4 2018, strong leasing activity has caused the overall downtown vacancy rate to decrease by 70 bps.

•80 Atlantic Avenue, an 80,000 sq. ft. office development by Hullmark completed construction this quarter. Located in the Liberty Village submarket, this newly completed development is 100% pre-leased by Universal Music Group, Spaces and Jackman Reinvents.

•The Vaughan submarket added 43,500 sq. ft. Class A space with the completion of 277 Cityview Boulevard in Q4 2019.

•The Suburban market experienced a 130 bps decrease in vacancy from 13.1% in Q4 2018 to 11.8% in Q4 2019 stemming from 1,146,275 sq. ft. of positive net absorption in 2019.