TORONTO, February 18, 2010 — Last month, TREB Commercial Members reported 660,815
square feet of leased space. This result was a substantial increase compared to the 336,029 leased
square feet recorded in January of 2009, when the rate of economic decline was greatest during the
recent recession.
According to Commercial Council Chair Garry Lander, “Two quarters of growth in the Canadian
economy coupled with six straight months of employment growth in the GTA suggests that recovery
has taken hold. Commercial transactions in 2010 should improve over 2009 levels as recovery
continues in the goods producing and service sectors.”
Lease rates fell in January. Industrial space in all size categories leased for $4.60 per sfn (square
foot net), a 14 per cent decline from the $5.38 per sfn recorded in the same month last year.
Commercial space fell 23 per cent to 14.59 per sfn from $18.90 per sfn last year. Office space traded
for $10.83 per sfn, down 8 per cent from $11.73 per sfn in January 2009.
Sales Market Highlights
TREB Commercial Members recorded 42 sales of IC&I properties in January, including 16 industrial
buildings of all size categories which averaged $62.41 per square foot. This compares to a figure of
$46.73 per square foot derived from non-MLS sources.
For a complete copy of the Commercial Realty Watch visit www.TREBCommercial.com
Members of the Toronto Real Estate Board’s Commercial Division adhere to a strict Code
of Ethics and Standards of Business Practice, only those who have met the standards
established by their peers are eligible to become Members.
Greater Toronto REALTORS® are passionate about their work. They adhere to a strict
Code of Ethics and share a state-of-the-art Multiple Listing Service. Serving over 28,000
Members in the Greater Toronto Area, the Toronto Real Estate Board is Canada’s largest
real estate board. Greater Toronto Area open house
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