Greater Toronto Commercial REALTORS® Report October Commercial Figures

Toronto, November 3, 2011 – Toronto Real Estate Board Commercial Division Members reported a combined 445,501 square feet of leased industrial, commercial and office space through the TorontoMLS® system in October 2011 – down by a third compared to October 2010. Of the total space leased, industrial property types
accounted for 371,755 square feet – down 31 per cent compared to October 2010.

The average lease rate for industrial space in October 2011 was $4.40 per square foot net – 15 per cent lower compared to October 2010.
“Slower than expected economic growth this year coupled with a less certain outlook for the economy moving forward has had an impact on the industrial leasing market in the Greater Toronto Area,” said Commercial Division Chair Larry Purchase.

“Uncertainty with regard to the situation in the United States and Europe has caused some businesses to move to the sidelines when it comes to making real estate investment decisions. This is especially the case for GTA industrial concerns focused on export markets.”
There were 38 combined industrial and commercial sales in October 2011 compared to 39 sales in October 2010. The average selling price for industrial properties was down almost 16 per cent year-over-year to $105.49 per square foot. The average selling price for commercial properties was down 41 per cent year-over-year to $154.85 per square foot.

“Softer commercial market conditions this year compared to last likely played some role in the average selling price decline. However, from year to year the type, size and geography of industrial and commercial properties sold can also change substantially. These kinds of compositional differences likely also had an impact on the average selling price,” added Purchase.

Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 32,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada’s largest real estate board.

For Media:
Mary Gallagher
Toronto Real Estate Board
1400 Don Mills Road
Toronto ON M3B 3N1
Office: (416) 443-8158

Source: Toronto Real Estate Board (TREB)

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REAL ESTATE SNATCH is the independent real estate blog of Samir Safadi, Sales Representative of West-100 Metro View Realty Ltd, brokerage it is dedicated to covering Real Estate News, digital culture, social media and technology, providing analysis of trends, Market Data , reviewing new development. Offering Real Estate services resources and guides. Services are provided to prospective buyers and sellers of real estate by Samir Safadi, Sales Representative, West-100 Metro View Realty Ltd, brokerage, duly registered in the province of Ontario, under Real Estate and Business Brokers Act, 2002 (REBBA 2002) and Member in good standing with



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