Real Estate News 
In the first installment of our quarterly update on notable office leasing activity in Toronto, we’ve highlighted the First Movers over the past quarter – companies who made a commitment to move, sublease, expand their footprint or renew their leases.
The downtown Toronto and GTA office markets remain relatively soft due to the effects of COVID-19, although there are some bright spots on the horizon. In person viewings of space increased over the past quarter, with the majority of these companies seeking to lease high-quality, improved spaces.
For well-appointed subleases and other in-demand spaces, it was not uncommon to see multiple competing offers for the same space, with incoming tenants proposing to pay nearly 100% of the asking rent from the companies subleasing their spaces. With respect to industry-specific demand, most brokerage firms have seen activity from tech, professional services and life sciences companies (among other burgeoning industries).
Office Leases in the Greater Toronto Area – Q3 2021
1. theScore at 125 Queens Quay East
- 80,000 square feet
- New lease, moving from 520 King West West
- Property owned by Menkes
2. JP Morgan Chase – 255 Consumers Road
- 42,000 square feet in North York
- Owned by Canderel
3. Think Research at 351 King Street East
- 35,000 square feet
- Renewal of existing lease
- Landlord is First Gulf
4. Localcoin at 480 University Avenue
- 17,000 square feet
- Took sublease space from a Nulogy
5. Travel Edge at 2 Queen Street East
- 74,000 square feet
- Travel Edge subleased space to an incoming subtenant
6. AssuranceIQ at 33 Yonge Street
- 15,000 square feet
- AssuranceIQ took sublease space from Clearco
- Clearco currently occupies large footprint in the building
7. Bolt (Second Closet) at 296 Richmond Street West
- 16,000 square feet
- Took sublease space from Financeit
8. Jobber at 260 Queen Street West
- 16,000 square feet
- Jobber was working in a co-working space pre-pandemic
- Moved to a fully-remote setting during Covid
Follow along with Tech Office as we highlight notable leases that are completed in each quarter.
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The information above was obtained from sources deemed reliable (including quarterly reports from commercial real estate brokerages), however its accuracy cannot be guaranteed. Square footages are approximate.
