Toronto Real Estate Board

Toronto Real Estate Board

April 17, 2009 10:30 ET

TREB: Leased Space Over 400,000 Square Feet in March

TORONTO, ONTARIO--(Marketwire - April 17, 2009) - TREB Commercial Members reported 421,642 square feet of space in March according to Garry Lander, Commercial Council Chair. This compares to the 933,299 square feet recorded during March of 2008.

Lease rates for Industrial space (all size categories) came in at $5.59 sfn, unchanged from March 2009. "The lower level of activity seems to have translated into a flattening of rental rates," Mr. Lander commented.

Sales Market Highlights

Of the 38 sales of industrial/commercial properties in March, the 21 Industrial property sales (all size categories) averaged $121.18 per square foot. This compares to the $79.60 per square foot figure obtained through non-MLS® sources.

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