Building Magazine


More than 800,000 square feet traded in January

Toronto Real Estate Board (TREB) members saw 842,475 square feet of space traded in January 2008, Commercial Council Chair Garry Lander announced. “The new year is off to a brisk start,” said Mr. Lander.

Lease rates traded within their customary ranges last month. Industrial space (all size categories) went for an average of $5.49 sfn, up three per cent over January of 2007. Meanwhile commercial space traded for an average of $17.03 sfn, and office space for an average of $11.87 sfn.

TREB members reported 58 sales of industrial/commercial properties in January, of which 29 were industrial properties in all size categories.

These sold for an average of $123.67 per square foot, which compares to a figure of $111.55 derived from non-MLS sources.

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