GTA Commercial REALTORS® Release Commercial Market Report

TORONTO, ONTARIO--(Marketwire - April 6, 2010) - In March, TREB Commercial Members reported 860,895 square feet of leased space, a 104 per cent increase from the 421,642 leased square feet recorded in March 2009, Commercial Council chair Garry Lander announced today.
In the first quarter of 2010, lease transactions for commercial space increased 73 per cent from the first quarter of 2009.

"Demand for commercial real estate is strongly related to economic growth and job creation. As company's order books expand, they will take on more employees and many will ultimately require more space," Mr. Lander said.

"The level of GTA employment has been trending upward since the summer of 2009, with the Canadian economy growing more strongly than expected. The commercial market has benefitted."

Lease rates for industrial space dipped to $4.91 per square foot net (sfn) from the $5.59/sfn figure recorded in March 2009. Commercial and office lease rates rose, with the former trading for $18.59/sfn compared to $17.44/sfn last year and the latter climbing to $12.47/sfn compared to $9.78/sfn last year.

Sales Market Highlights
TREB Members recorded 54 sales of IC&I properties in April, including 34 industrial buildings of all size categories, with an average selling price of $70.27 per square foot. This compares to a figure from non-MLS sources of $70.60 per square foot.
For a complete copy of the Commercial Realty Watch visit www.TREBCommercial.com.

Members of the Toronto Real Estate Board's Commercial Division adhere to a strict Code of Ethics and Standards of Business Practice, only those who have met the standards established by their peers are eligible to become Members.
Greater Toronto REALTORS® are passionate about their work. They adhere to a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 28,000 Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada's largest real estate board. Greater Toronto Area open house listings are now available on www.TorontoRealEstateBoard.com.

For more information, please contact
For Media/Public Inquiries:
Toronto Real Estate Board
Mary Gallagher, Manager Media Relations
Office: (416) 443-8158
Email:maryg@trebnet.com
www.TorontoRealEstateBoard.com

0 comments:

Blog Widget by LinkWithin

Recent Comments

Become a Facebook Fan

Followers

Blog Directories We're On

Must Read Books

  • The Millionaire Real Estate Agent by Gary Keller
  • The Four Hour Work Week by Timothy Ferris
  • Rich Dad, Poor Dad by Robert Kiyosaki
  • Daddy Needs a Drink by Robert Wilder

Live Traffic Feed

Disclaimers

No part of this website is intended to solicit those already under contract.

Legal, accounting and environmental advice should be sought prior to making any form of financial or other commitments.
Opinions expressed herein are those of the authors and may not reflect those of the Brokerage.

REALTOR® Trademark owned or controlled by the Canadian Real Estate Association. Used under license.

Those of you with an overwhelming fear of the unknown will be gratified to learn that there is no hidden message revealed by reading this warning backwards, so just ignore that Alert Notice from Microsoft: However, by pouring a complete circle of salt around yourself and your computer you can ensure that no harm befalls you and your children.
Powered by Blogger, trillions of electrons spinning out of control, and an insatiable appetite to learn.

  © Blogger templates The Professional Template by Ourblogtemplates.com 2008

Back to TOP