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Bay Street Is Canada’s Most Expensive Street for Office, Again

For the fifth consecutive year, Bay Street is Canada’s most expensive office corridor, with rents hitting $68.19/SF, according to JLL. Vancouver’s Burrard Street ranked second ($57.72/SF); Ottawa’s Queen Street ($49.34/SF) was third. The most dramatic dip was seen on Calgary’s 8th Ave SW, which dropped from second to fifth ($60.38 down to $45.60/SF). Average rents for office space on Bay were over 100% higher than average rents elsewhere in Toronto, JLL Canada president Brett Miller said, noting tenants will pay a premium to be close to amenities that enable them to “capitalize on the live, work and play mentality.”

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