News
Toronto Commercial Real Estate

Enticing Tenants Into Older Buildings

Look for landlords to offer incentives to lure tenants to move into mature office towers after an exodus of tenants for newer spaces. (They should try using guilt. It's the main reason most people visit their grandparents.) A new report from JLL Canada notes Vancouver will see 16% more Class-A inventory come to market by 2017, with planned buildings 60% pre-leased. In Toronto, seven developments will inject 5M SF of new space into the downtown market by 2017, and Toronto tenants pre-leased in the new developments will give back over 300k SF. JLL president Brett Miller says landlords are "reevaluating rental rates and offering increased tenant inducements to secure early, long-term renewals with quality tenants."

Continue reading this story with a free account

Log in or register
Related Topics: Brett Miller, JLL Canada
Sign up for more articles like this
Subscribe to Bisnow's Toronto Newsletters
Related Stories

JVP Development Is Betting $37M Of Its Own Money That Frisco Is Ready For Spec Office

Hedge Fund Bids $88M For Spirit Airlines' Former HQ

Federal Government To Sell Nearly 31K SF In Five Points: The Denver Deal Sheet

Avison Young Had Assets Frozen By Bank Over Unpaid Taxes

Artificial Intelligence Companies Reshaping Dublin Office Demand As OpenAI Confirms HQ

Mars Factory Overhaul Stalls As Candymaker's Chicago Expansion Accelerates

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

Empire State Building Observation Deck Hemorrhaging Visitors, Value

Cortland, Pulte, INVH, Walker & Dunlop Execs Talk Changing Demographics, AI

Oyster Point's Second Phase Half-Leased As Kilroy Navigates Soft Lab Demand

BXP Closes In On Next D.C. Office Development As It Shrinks Assets

America's War Machine Is Growing, Sparking A Defense Real Estate Boom