Resurgence in the production of goods and services for export to the US led to an uptick in industrial leasing in the GTA last month, with industrial property transactions accounting for nearly 80% of the 529k SF of space leased in August, according to the Toronto Real Estate Board. Q2 GDP data shows Canada’s economic pace has accelerated, TREB president Paul Etherington notes, fueling activity in the industrial market. “The hope is that growth in exports will continue.” On the sales side, TREB reports 51 combined industrial, commercial/retail and office properties changed hands in August (down from 55 last year).
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