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Commercial Real Estate Market Watch

Commercial Market Fast Out of the Gate
With 1,327,780 square feet of space leased in January, market activity was up 13 per cent over the 1,174,981 total recorded during the first month of 2006, Commercial Council Chair Ron Ridsdill announced today. "A good portion of this result is due to the leasing of some very large (300,000 square foot plus)industrial buildings," Mr. Ridsdill noted. "Once uncommon, system improvements have, over the last several years, made leasing this kind of property through TorontoMLS a more viable option for commercial agents."

Prices for leased industrial properties were little changed last month, declining marginally to $5.31 sfn from January 2006, and down four per cent from December's figure of $5.51 sfn.

Sales Market Highlights
In January, TREB Members reported 43 total sales, of which 27 were Industrial properties in all size categories. These averaged $61.87 per square foot. Non MLS-sources give a figure of $90.75 per square foot for the same class of property. While the TMLS figure is usually lower than that of outside information providers, a number of large industrial sold through TMLS during the month, which accounts for the reversal.

Commercial Market Watch - January 2007

Posted on Monday, February 19, 2007 at 02:08PM by Registered CommenterElaine | CommentsPost a Comment

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