GTA Commercial REALTORS(r) release Commercial Market Report
TORONTO, April 6, 2010 - In March, TREB Commercial Members reported 860,895square 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. Asif Khan, Realtor Re/Max All-Stars Realty Inc. Google me: Asif Khan Re/Max Follow me on Twitter Become a Fan on Facebook