Toronto Real Estate Board

Toronto Real Estate Board

July 20, 2009 10:00 ET

Toronto Real Estate Board: Over 500,000 Square Feet Leased In June

TORONTO, ONTARIO--(Marketwire - July 20, 2009) - Last month, TREB Members reported 560,425 square feet of leased space, in comparison to the 1,017,518 leased square feet recorded in June of 2008, Commercial Council Chair Garry Lander reported today. "The pace of activity remains below last year, in line with the performance of the general economy," Mr. Lander noted.

Prices were mixed in June. Industrial space in all size categories leased for $4.79 sfn, down 17% from the $5.78 recorded in June 2008. Commercial space traded for $13.47 sfn, down 20% from the $16.75 figure seen during the same month last year. Finally, office space traded for $14.69, up 24% from last June's $11.81 sfn figure, a possible indicator that higher quality office space is being listed on the MLS in the face of a challenging market.

Sales Market Highlights

TREB Members recorded 59 sales of IC&I properties in June, including 28 industrial buildings of all size categories which averaged $82.91 per square foot. This compares to the $65.26 per square foot obtained from non-MLS sources.

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.

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