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Leasing activity in the Greater Toronto Area (GTA) picked up in the third quarter with overall net absorption of 1.9 million square feet. As a result, the overall availability rate dropped by 20 basis points to 4.8 percent. This quarter has seen the resurgence of leasing activity in the GTA North market with almost 1 million square feet of positive net absorption recorded, contributing to an increase in average net asking rates. The investment market continues to be dominated by high activity in the GTA West, with sales volumes over $235 million recorded this quarter.
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