March 11, 2008 — In February, TREB Members reported 844,348 square feet of space leased through the TorontoMLS system, Commercial Council Chair Garry Lander announced today. “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.”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.
Sales Market Highlights
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.
Source: TREB (Toronto Real Estate Board)