Commercial Real Estate Markets

August Sees Over 800,000 Square Feet In Leased Space

With 806,743 square feet of space leased, August 2007 turned out to be another solid month for the Greater Toronto Area Industrial/Commercial real estate market, Toronto Board Commercial Council Vice Chairman Garry Lander announced today.

“This summer, a total of 3,070,102 square feet of space has traded through the TorontoMLS system,” Mr. Lander said. “This is up 13 per cent over the 2,716,065 recorded during summer 2006.”

At $6.35 sfn, prices for Industrial leased space (all size categories) rose 12 per cent over August 2006. Commercial properties also increased from that time-frame, rising 12 per cent from $15.86 sfn to $17.86 sfn.

Sales Market Highlights

In August, 53 sales of Industrial/Commercial properties took place through the TorontoMLS system. Of them, 23 were industrial buildings in all size categories that sold for an average of $100.30 per square foot. This compares to a figure of $78.54 derived from non-MLS sources.

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