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Trends currently seen in the Downtown Toronto market reflect slower leasing activity, particularly in the financial core, and fewer large tenants in the market. Smaller tenants have been more active, particularly in the sublease market where large blocks have become available in recent quarters. More space has been pre-leased in Downtown Toronto’s 5.0 million square feet of upcoming development. Sun Life Financial’s recent lease of 280,000 square feet at One York remains the largest deal to date in 2014. In Q1, Entertainment One signed a 70,000 square foot lease at QRC West and RBC increased its footprint at 88 Queen’s Quay, adding 50,000 square feet over two floors.
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