Toronto Commercial Real Estate

Leased Space Up 12 Per Cent in September

Toronto Real Estate Board Members reported 1,112,814 square feet of space leased through the TMLS system in September, a 12 per cent increase over the 988,678 figure reported during September 2006, Commercial Council Chairman Garry Lander announced today. “Square footage is also up 38 per cent from August,” said Mr. Lander. “Either way you look at it, the Fall IC&I market is off to a fast start.”

No marked price trends could be seen in September’s figures. While leased industrial space (all size categories) rose five per cent to $5.80 sfn over September 2006, commercial space fell 29 per cent to $12.52 sfn from last year’s figure of $17.58 sfn.

Sales Market Highlights

TREB Members reported 57 IC&I properties sold through the TorontoMLS system in September. Industrial properties (all size categories) comprised 32 of these sales and averaged an unusually low $61.17 per square foot, due to the sale of one very large (200,000 square foot plus) property through MLS during the month. Non-MLS sources gave a figure of $76.67 per square foot.

See Full Report [in PDF format].