Sublet market comes to prominence as existing tenants navigate stagnant economy: Report

Commercial Real Estate Company JLL has released a report providing insight on Toronto’s industrial sector in the first quarter of 2024.

The report noted that the sublet market came to prominence as existing tenants navigated a stagnant economy.

According to the report, vacancy saw a 70 basis point increase to 3.1 per cent quarter-over-quarter, the highest rate seen since Q3 2017.

The report also noted that the market saw a large amount of negative net absorption at -2.6M s.f....