Toronto’s office vacancy rose in Q2, but fell in certain areas

Nesto, an online mortgage lender, has acquired CMLS Group. Avison Young's report shows Toronto's office market vacancy rates rose overall but fell in certain areas. Class A and trophy buildings saw gains, while class B and C buildings experienced losses. Average office space rental rates increased to $27.3 per square foot. Potential changes to Toronto's office regulations could reduce the overall office inventory if the city relaxes its policy on replacing office space in redevelopment projects.