Welcome!

News Feed Item

GTA Commercial REALTORS(R) Report Commercial Market Figures

TORONTO, ONTARIO -- (Marketwired) -- 01/06/14 -- Toronto Real Estate Board Commercial Network Members reported a total of 5,410,687 square feet of leased industrial, commercial/retail and office space in the fourth quarter of 2013. This result was down by 8.4 per cent in comparison to the fourth quarter of 2012. The year-over-year dip in the amount of space leased was concentrated in the industrial market segment.

Approximately 77 per cent of the space leased was industrial in nature, with the office and commercial/retail segments accounting for 13 per cent and 10 per cent respectively.

Average lease rates, for properties transacted on a per square foot net basis and for which pricing was disclosed, were up for the industrial, commercial/retail and office property segments. "The trend for manufacturing output has been somewhat flat over the last year and has not yet surpassed pre-recession levels, which may explain, at least in part, why industrial leasing activity did not experience year-over-year growth in the fourth quarter. In contrast, retail trade has generally been trending upward, which has been a positive for the demand for commercial/retail space. Given that the demand for office space is driven by all sectors of the economy, it makes sense that we saw the amount of leased office space increase," said Commercial Committee Chair, Cynthia Lai.

Commercial Network Members also reported a combined 260 industrial, commercial/retail and office property sales in the fourth quarter of 2013. This result represented a slight dip compared to the total of 265 transactions reported during the same period in 2012. Similar to the leasing market, the dip in the number of sales was driven by the industrial market segment. Average sale prices on a per square foot basis for transactions where pricing was disclosed were up for all three market segments.

"While leasing and sales activity in the fourth quarter was down in comparison to last year, pricing was up for major market segments. This suggests that demand for industrial, commercial/retail and office space has remained strong enough relative to supply to exert upward pressure on pricing," continued Ms. Lai.

Fourth Quarter 2013: All Commercial Lease Transactions
Total Leased Space for All Lease Transaction Types on TorontoMLS

         Total Leased Square Feet
                                        %
               Q4 2013    Q4 2012  Change
-----------------------------------------
Industrial   4,144,169  4,948,124  -16.2%
-----------------------------------------
Commercial     570,156    475,879   19.8%
-----------------------------------------
Office         696,362    480,784   44.8%
-----------------------------------------
Total        5,410,687  5,904,787   -8.4%
Source: TREB

Fourth Quarter 2013: Per Square Foot Net Commercial Leasing Summary
Lease Transactions Completed on a Per Square Foot Net Basis with Pricing
Disclosed on TorontoMLS

            Leased Square Feet                     Average Lease Rate
                                        %                  Q4      Q4      %
               Q4 2013    Q4 2012  Change                2013    2012 Change
-----------------------------------------  ---------------------------------
Industrial   1,756,560  2,466,050  -28.8%  Industrial   $5.32   $4.65  14.3%
-----------------------------------------  ---------------------------------
Commercial     209,281    209,370    0.0%  Commercial  $19.02  $15.10  26.0%
-----------------------------------------  ---------------------------------
Office         192,361    148,895   29.2%  Office      $13.34  $12.35   8.0%
-----------------------------------------  ---------------------------------
Total        2,158,202  2,824,315  -23.6%
Source: TREB

Fourth Quarter 2013: All Commercial Sale Transactions
Total Number of Sales on TorontoMLS

               Total Sales
                                        %
               Q4 2013    Q4 2012  Change
-----------------------------------------
Industrial         108        116   -6.9%
-----------------------------------------
Commercial         105        102    2.9%
-----------------------------------------
Office              47         47    0.0%
-----------------------------------------
Total              260        265   -1.9%

Fourth Quarter 2013: Commercial Sales Completed with Pricing Disclosed on
TorontoMLS

                                              Avg. Sale Price Per Sq. Ft.
         Sales (Price Disclosed)                  (Pricing Disclosed)
                                        %                  Q4      Q4      %
               Q4 2013    Q4 2012  Change                2013    2012 Change
-----------------------------------------  ---------------------------------
Industrial         104         96    8.3%  Industrial  $97.40  $86.45  12.7%
-----------------------------------------  ---------------------------------
Commercial         101         83   21.7%  Commercial $254.27 $211.24  20.4%
-----------------------------------------  ---------------------------------
Office              45         37   21.6%  Office     $233.67 $187.75  24.5%
-----------------------------------------  ---------------------------------
Total              250        216   15.7%
Source: TREB

NOTE: Some table totals may differ due to conversion and rounding.

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 37,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada's largest real estate board.

Get the latest real estate news and Market Watch information including market watch summary video.

www.twitter.com/TREBhome

www.facebook.com/TorontoRealEstateBoard

www.youtube.com/TREBChannel

Contacts:
Media Inquiries:
Mary Gallagher
Senior Manager Public Affairs
(416) 443-8158
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lead...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
SYS-CON Events announced today that CAST Software will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CAST was founded more than 25 years ago to make the invisible visible. Built around the idea that even the best analytics on the market still leave blind spots for technical teams looking to deliver better software and prevent outages, CAST provides the software intelligence that matter ...
SYS-CON Events announced today that Daiya Industry will exhibit at the Japanese Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ruby Development Inc. builds new services in short period of time and provides a continuous support of those services based on Ruby on Rails. For more information, please visit https://github.com/RubyDevInc.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
As businesses evolve, they need technology that is simple to help them succeed today and flexible enough to help them build for tomorrow. Chrome is fit for the workplace of the future — providing a secure, consistent user experience across a range of devices that can be used anywhere. In her session at 21st Cloud Expo, Vidya Nagarajan, a Senior Product Manager at Google, will take a look at various options as to how ChromeOS can be leveraged to interact with people on the devices, and formats th...
Is advanced scheduling in Kubernetes achievable? Yes, however, how do you properly accommodate every real-life scenario that a Kubernetes user might encounter? How do you leverage advanced scheduling techniques to shape and describe each scenario in easy-to-use rules and configurations? In his session at @DevOpsSummit at 21st Cloud Expo, Oleg Chunikhin, CTO at Kublr, will answer these questions and demonstrate techniques for implementing advanced scheduling. For example, using spot instances ...
First generation hyperconverged solutions have taken the data center by storm, rapidly proliferating in pockets everywhere to provide further consolidation of floor space and workloads. These first generation solutions are not without challenges, however. In his session at 21st Cloud Expo, Wes Talbert, a Principal Architect and results-driven enterprise sales leader at NetApp, will discuss how the HCI solution of tomorrow will integrate with the public cloud to deliver a quality hybrid cloud e...
SYS-CON Events announced today that Yuasa System will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Yuasa System is introducing a multi-purpose endurance testing system for flexible displays, OLED devices, flexible substrates, flat cables, and films in smartphones, wearables, automobiles, and healthcare.
DevOps is under attack because developers don’t want to mess with infrastructure. They will happily own their code into production, but want to use platforms instead of raw automation. That’s changing the landscape that we understand as DevOps with both architecture concepts (CloudNative) and process redefinition (SRE). Rob Hirschfeld’s recent work in Kubernetes operations has led to the conclusion that containers and related platforms have changed the way we should be thinking about DevOps and...
SYS-CON Events announced today that Taica will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Taica manufacturers Alpha-GEL brand silicone components and materials, which maintain outstanding performance over a wide temperature range -40C to +200C. For more information, visit http://www.taica.co.jp/english/.
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busine...
SYS-CON Events announced today that Nihon Micron will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Nihon Micron Co., Ltd. strives for technological innovation to establish high-density, high-precision processing technology for providing printed circuit board and metal mount RFID tags used for communication devices. For more inf...
SYS-CON Events announced today that SourceForge has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SourceForge is the largest, most trusted destination for Open Source Software development, collaboration, discovery and download on the web serving over 32 million viewers, 150 million downloads and over 460,000 active development projects each and every month.
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities – ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups. As a result, many firms employ new business models that place enormous impor...