Occupancy Index - June 1

Comments –

While the Province begins to reduce restrictions on some activities, the office sector in the downtown continues to remain quiet. We began to hear, in late May, more indication that voluntary return to the office is on the increase as vaccinations become more common place. Tenants were reporting more individual requests to come into the office some days during week.  We will likely see an increase in the Index by the end of June and possibly significant change in July.

At SRRA’s 14thForum June 10th on the state of The GTA’s competitiveness relative to other major cities there was general agreement that while the region lags behind in the recovery and the return to office jobs indicators point to positive growth possibly as strong as pre-COVID days

… stay safe - the SRRA Team

Links to Articles of Interest

New York offices looking at 15% occupancy for now, but uncertainty over true appeal of ‘hybrid’ model adds to uncertainty.

New study may have hidden messages for the GTA. If we are hoping to pursue a transit-powered recovery, what would be the impact of households moving to the region’s outer suburbs to purchase more living space?

Undertaking renovations to space before workers come back spurring uptick in building permits.

 Big U.S. firms focus on end of September return to the office.