How Return-To-Office Mandates Are Impacting Toronto's Office Market

The return-to-office mandates in Toronto, led by Ontario's Premier and major banks, are boosting the commercial real estate market, specifically the office sector. Vacancy rates, although elevated compared to pre-pandemic levels, are decreasing, especially in Class A office spaces with superior amenities. The movement back to office spaces is creating demand for better-equipped work environments and is expected to impact local retail and traffic. Organizations are adapting spaces to meet new employee needs, such as updated technology and convenient amenities, to optimize productivity.