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The Greater Toronto Area (GTA) had 2,510,239 square feet of new supply this quarter, 1.8 million square feet of which went up in the GTA West. And this new supply has helped contribute to the 60 basis point increase quarter-over-quarter in the vacancy rate. Even with the increase in vacancy, net asking rents increased to $6.15 per square foot, reflecting the continued tightness of the market.
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