Toronto Real Estate Board

Toronto Real Estate Board

March 19, 2009 10:17 ET

TREB: 472,663 Square Feet Leased In February

TORONTO, ONTARIO--(Marketwire - March 19, 2009) - In February 2009, TREB Members reported 472,663 square feet of space through the TorontoMLS system, Commercial Council Chair Garry Lander announced today. This figure compares to the 844,348 figure recorded during the same month in 2008.

The average lease rate for Industrial space was $5.17 sfn, from February 2008's level of $5.84 sfn. "Lease rates have responded to the softer commercial market conditions experienced this year," according to Lander.

Sales Market Highlights

TREB Members reported 36 sales of all property types during February. Of these, the 21 Industrial sales averaged $92.37 per square foot. This compares to a figure of $74.03 derived 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.

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.

Contact Information