Commercial Real Estate landlords in Toronto and the GTA are dropping rents for their buildings due to the impact of the recent recession.

Troubled companies have also been dumping some of their office space back on to the sub-lease market that is now up 48 per cent from 2009.

Current commercial Real Estate tenants financial stability is contributing to higher rent defaults.

At the end of 2009 office vacancies in the Toronto area increased 20 per cent to 11.3 million square feet.

The average asking Toronto and Area Commercial rent fell 9 per cent from $17.83 in 2008 to $16.20 per square foot according to Commercial Real Estate Company Colliers International.