Leased Space In GTA On Upswing
This morning, the Toronto Real Estate Board Commercial Division Members reported a 16%year-over-year increasein total SF leased. Where were you one year ago today? Do you feel 16% better?
Industrial properties in the GTA drove the bus, accounting for 83%of total lease transactions. Space that houses population-service businesses was down 42.1% (industrial was up 33.6%), while office was up just 2.7%. The average industrial lease rate was also up slightly--6.5%. There was also a large jump in the average selling price for commercial and retail properties. Industrial and office were down. For TREB senior manager of market analysis Jason Mercer, some perspective is required. We are expecting to see some growth [in 2013], just not over each and every month, Jason says. We expect to see some volatility continue through this year.