As of early March, the percentage of employees in Toronto’s financial hub averaged 43 per cent of prepandemic occupancy levels, according to data from consulting firm Strategic Regional Research Alliance
, which conducts in-depth interviews and surveys of downtown office tenants. That is the highest level of occupancy since the pandemic started – a dismal sign of the slow return to the office.when volume was 55 per cent of prepandemic occupancy and the slowest day was a Friday at 32 per cent.
As the amount of time spent in the office has faltered, employers are trying to figure out how much space they need. They are either putting their space up on the sublease market or reducing the amount of space when it comes to their lease renewal. This is in addition to the reams of sublets that came on the market during the first three years of the pandemic.
Tech company Financeit has a staff of 250 employees. An average of 50 of them physically go into the office. As demand for office space declines, investors are starting to shy away from office buildings. There was a total of $75-billion worth of commercial real estate transactions in Canada last year. Of that amount, 10 per cent were office building deals, according to Altus data. That is down from a share of 17 per cent in 2019. And the risk to buying an office tower is rising.
Throughout the underground mall, places that used to be in top locations, next to escalators or at the intersection of two buildings, continue to be empty or have their windows papered over. There are signs advertising places to lease in many locations and retail staff can be seen surfing their phones for lack of customers.
The president of the Oliver and Bonacini group of upscale restaurants and catering said that his fine dining eateries such as Canoe and Jump are mostly thriving in the middle of the week for lunch and dinner.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.
New Glasgow's Cafe Italia restaurant will close March 18 | SaltWireEvery cent he had was spent on equipment and other costs associated with opening a restaurant. With nothing left to give, a then 30-year-old Jeff Gillin ...
اقرأ أكثر »