Investment in Toronto commercial real estate continues to remain strong across the board, according to the JLL Capital Markets Insight, Q3 2017 report.

Overall Toronto investment volumes for the third quarter hit $3.9B, up from $3.2B in the second quarter, the JLL report found. Private investors continued to dominate, representing 57.3% of buyer volume.

“We expect this trend to continue in the coming quarters due to an ever-increasing interest in core properties from domestic and foreign buyers,” concludes the report.

Investment in the office sector led the way for the quarter, representing 44.5% of investments, up 51% year-over-year. Overall, office investment reached $1.7B as compared to $1.5B in Q2.

Toronto industrial investment volumes in Q3 stood at approximately $540M compared to $690M in the previous quarter.

The GTA’s multifamily sector continued to show high investment activity despite low supply in the marketplace. Much of the trade volume was in the Class-B and C product range.

“There remains significant market demand for quality multifamily product. We expect the marketplace to remain highly competitive for the near-term,” the report states.

Investment in the retail sector rose to $730M, up from $475M in Q2. Urban retail remained a huge focus for many large Canadian REITs and institutional owners.

“The recent demise of Sears has created opportunities for redevelopment and new leasing in major regional malls across the country, while malls in some smaller markets are exploring repurposing of former retail space,” the report said.

Hotel investment in the GTA remains the big winner, continuing at record-setting levels. Overall hotel investment volumes through Q3 sat at $865M, up from $440M from the same period in 2016.