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Overall quarterly net absorption in Downtown Toronto took a step back in the second quarter recording 68,147 square feet compared to over 300,000 square feet in the first quarter of 2016. That said, leasing velocity remained strong with Financial Services, Public and Technology sectors accounting for over 80 percent of total leasing. Net asking rents continued it's upward trend with Class A rents rising 1.1 percent quarter over quarter. The office market remains tight and tenants have limited quality options to choose from.
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