March 29, 2020    中文(繁体)   
Q1-2019 Commercial Statistics

TORONTO, ONTARIO, April 22, 2019 – Toronto Real Estate Board
President Gurcharan (Garry) Bhaura announced that TREB Commercial
Network Members reported 6,814,418 square feet of total leased space
for all transaction types across the industrial, commercial/retail and office
market segments. This result represented a 9.1 per cent increase
compared to the first quarter of 2018.

There were mixed results regarding year-over-year changes in average
per square foot net lease rates for transactions with pricing disclosed.
The average industrial lease rate rose to $7.52 from $6.70 in Q1 2018.

Average commercial/retail and office lease rates were both down yearover-year
by 11 per cent and 11.5 per cent, respectively.

It is important to note that annual changes in average lease rates can be
the result of changing market conditions and changes in the mix of
properties leased from one year to the next, in terms of location, size,
mix and other related variables.

“A strong increase in total square footage leased through TREB’s MLS®
System is likely linked to favourable economic conditions throughout the
Greater Toronto Area. Historically low unemployment rates signify that
the region continues to be a hub for economic growth and innovation,
suggesting that space is in demand for a variety of businesses in
multiple sectors,” said Mr. Bhaura.

Total commercial real estate sales decreased by 106 between Q1 2018
and Q1 2019 from 286 to 180. A large part of this decrease was due to
industrial sales declining from 108 in Q1 2018 to 62 in Q1 2019. Also,
office sales declined by 36 from 75 to 39 units sold. Commercial/retail
sales decreased from 103 to 79 units sold.

Posted by: Jackie

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