In February, TREB members reported 844,348 square feet of space was leased through the TorontoMLS system. “This figure is up marginally over January’s 842,475 square foot total, and we should see those figures climb even higher as the IC&I spring market gradually takes off,” said Commercial Council Chair Garry Lander. Lease rates remained relatively unchanged from their year-ago levels, with industrial space trading for $5.84 sfn and commercial space going for $15.23 sfn.
In February, TREB Members reported 63 sales of IC&I properties. Of these, 38 were industrial properties of all size categories, which averaged $109.38 per square foot. This compares with a price of $72.57 per square foot derived from non-MLS sources.