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Toronto Absorbed 1M SF Of Class-A Office In 2016

Menkes Developments and HOOPP's One York Street in Toronto's South Core financial district

Toronto office had another top-notch year in 2016, with more than 1M SF of Class-A space absorbed downtown — 116k SF in the final quarter alone, according to fresh figures from Cushman & Wakefield. Toronto, home to One York St, above, has been a “global poster child for downtown urban growth,” the firm said, and there seems to be no stopping the city's momentum, driven by tech, Big Data, e-commerce and software firms seeking core locations. Amid one of the most significant development booms since the early 1990s, downtown's availability rate fell to 4% in Q4, an eight-year low, Cushman reported.