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Increased office vacancies offer chance for growing companies to expand
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Fred Lum/The Globe and Mail
Toronto’s downtown office vacancy rate hit 9.1 per cent in the first quarter of this year, as more businesses tried to get rid of their office space after months of work-from-home mandates.
The vacancy rate was nearly two percentage points higher than the fourth quarter of last year, marking the highest level since early 2008 when the global financial crisis led to a vacancy rate of 9.5 per cent, according to a new report from commercial real estate firm CBRE.