Welcome!

News Feed Item

Commercial Realtors(R) Report Latest Commercial Market Figures

TORONTO, ONTARIO -- (Marketwired) -- 05/06/14 -- Toronto Real Estate Board Commercial Network Members reported 450,092 square feet of combined industrial, commercial/retail and office space leased through the TorontoMLS system in April 2014, on a per square foot net basis where pricing was disclosed. This result was down from 625,545 square feet leased in April 2013. Industrial space accounted for three-quarters of all space leased in April.

"While the amount of space leased last month was down on a year-over-year basis, it is important to point out that the average lease rate for the all-important industrial segment was up by 11 per cent. This growth was due to both market forces and a change in the mix of industrial properties leased," said Commercial Committee Chair Cynthia Lai.

The average industrial lease rate in April 2014 was $5.35 per square foot net - up by 11 per cent compared to $4.82 in April 2013. The average commercial/retail lease rate, at 18.63, was down by 15.8 per cent year-over-year. The average office lease rate was down by a similar 15.5 per cent over the same reporting period. For both the commercial/retail and office segments, much of the dip in the average lease rates was compositional, with a shift in the size and geography of properties leased.

There were a combined 45 industrial, commercial/retail and office sales reported in April 2014 through the TorontoMLS system. This result was down by 21 per cent compared to 57 sales in April 2013. Industrial and office sales were down on a year-over-year basis, while commercial/retail transactions were up.

Average sale prices on a per square foot basis were up for all market segments. The average industrial selling price was up by 15.8 per cent year-over-year to $108.13. The average commercial/retail selling price, at $212.46, represented an increase of 14.2 per cent year-over-year. Office property transactions had an average selling price of $217.54 - up 17.8 per cent compared to April 2013.

"For the first two months of 2014, we experienced a respectable pace of growth in the Canadian economy. In March, we also experienced quality employment growth in the GTA and a dip in the unemployment rate. The consensus view is that while the consumer-driven sectors of the economy continue to drive growth, we should see a greater contribution from business investment and exports moving forward. This will obviously be favorable for the commercial real estate market," continued Ms. Lai.


First 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               
                         April       April          % 
                          2014        2013     Change 
----------------------------------------------------- 
Industrial             338,076     466,494     -27.5% 
----------------------------------------------------- 
Commercial              54,752      70,148     -21.9% 
----------------------------------------------------- 
Office                  57,264      88,903     -35.6% 
----------------------------------------------------- 
Total                  450,092     625,545     -28.0% 
Source: TREB Commercial Division                      

First Quarter 2013: Per Square Foot Net Commercial   
Leasing Summary                                      
Lease Transactions Completed on a Per Square Foot Net
Basis with Pricing Disclosed on TorontoMLS           
                                                     
                     Average Lease Rate              
                        April        April          %
                          2014        2013     Change
-----------------------------------------------------
Industrial         $      5.35 $      4.82      11.0%
-----------------------------------------------------
Commercial         $     18.63 $     22.14     -15.8%
-----------------------------------------------------
Office             $     13.23 $     15.65     -15.5%
-----------------------------------------------------
                                                     
Source: TREB Commercial Division                     
                                                      
First Quarter 2013: Commercial Sales Completed with   
Pricing Disclosed on TorontoMLS                       
                                                      
                   Sales (Price Disclosed)            
                         April       April         %  
                          2014        2013    Change  
----------------------------------------------------- 
Industrial                  18          30     -40.0% 
----------------------------------------------------- 
Commercial                  22          18      22.2% 
----------------------------------------------------- 
Office                       5           9     -44.4% 
----------------------------------------------------- 
Total                       45          57     -21.1% 

                                                     
First Quarter 2013: Commercial Sales Completed with  
Pricing Disclosed on TorontoMLS                      
                                                     
             Avg. Sale Price Per Sq. Ft.             
                 (Pricing Disclosed)                 
                         April       April         % 
                          2014        2013    Change 
-----------------------------------------------------
Industrial         $    108.13 $     93.42      15.8%
-----------------------------------------------------
Commercial         $    212.46 $    186.09      14.2%
-----------------------------------------------------
Office             $    217.54 $    184.70      17.8%
-----------------------------------------------------

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 39,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada's largest real estate board.

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
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th 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 wait for long dev...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Kubernetes, Docker and containers are changing the world, and how companies are deploying their software and running their infrastructure. With the shift in how applications are built and deployed, new challenges must be solved. In his session at @DevOpsSummit at19th Cloud Expo, Sebastian Scheele, co-founder of Loodse, will discuss the implications of containerized applications/infrastructures and their impact on the enterprise. In a real world example based on Kubernetes, he will show how to ...
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Digital Transformation, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportuni...
As the world moves toward more DevOps and Microservices, application deployment to the cloud ought to become a lot simpler. The Microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. Serverless computing is revolutionizing computing. In his session at 19th Cloud Expo, Raghav...
Is the ongoing quest for agility in the data center forcing you to evaluate how to be a part of infrastructure automation efforts? As organizations evolve toward bimodal IT operations, they are embracing new service delivery models and leveraging virtualization to increase infrastructure agility. Therefore, the network must evolve in parallel to become equally agile. Read this essential piece of Gartner research for recommendations on achieving greater agility.
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, wil...
Ixia (Nasdaq: XXIA) has announced that NoviFlow Inc.has deployed IxNetwork® to validate the company’s designs and accelerate the delivery of its proven, reliable products. Based in Montréal, NoviFlow Inc. supports network carriers, hyperscale data center operators, and enterprises seeking greater network control and flexibility, network scalability, and the capacity to handle extremely large numbers of flows, while maintaining maximum network performance. To meet these requirements, NoviFlow in...
StarNet Communications Corp has announced the addition of three Secure Remote Desktop modules to its flagship X-Win32 PC X server. The new modules enable X-Win32 to safely tunnel the remote desktops from Linux and Unix servers to the user’s PC over encrypted SSH. Traditionally, users of PC X servers deploy the XDMCP protocol to display remote desktop environments such as the Gnome and KDE desktops on Linux servers and the CDE environment on Solaris Unix machines. XDMCP is used primarily on comp...
SYS-CON Events announced today that StarNet Communications will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. StarNet Communications’ FastX is the industry first cloud-based remote X Windows emulator. Using standard Web browsers (FireFox, Chrome, Safari, etc.) users from around the world gain highly secure access to applications and data hosted on Linux-based servers in a central data center. ...
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...