Toronto Real Estate Board

Toronto Real Estate Board

June 17, 2009 10:31 ET

Toronto Real Estate Board: Over 600,000 Square Feet Leased in May

TORONTO, ONTARIO--(Marketwire - June 17, 2009) - TREB Commercial Members reported 644,130 square feet of space leased in May through the TorontoMLS® system, reported Commercial Council Chair Garry Lander. "While still below 2008 levels, this figure represents an improvement over the first four months of the year," said Mr. Lander.

Prices declined for Industrial and Commercial space in May. Industrial space (all size categories) traded at $5.34 sfn, down 12 per cent from May of 2008 when the price was $6.08 sfn. Commercial space traded for $11.27 sfn, a 22 per cent decline from the same month last year.

Sales Market Highlights

Of the 50 IC&I sales recorded through TorontoMLS® last month, 28 were industrial properties, which averaged $69.20 per square foot. Non-MLS®.

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