#Toronto Commercial Office Leasing Numbers From TREBTORONTO, March 5, 2013 -- Toronto Real Estate Board (TREB) Commercial Division Members reported 460,884 total square feet of leased space through the TorontoMLS system in February (based on lease transactions for which pricing was disclosed). This result represented a year-over-year increase of 16 per cent in comparison to February 2012.
Industrial properties accounted for approximately 83 per cent of total lease transactions. The average industrial lease rate associated with February transactions was $5.13 per square foot net – up by more than 6.5 per cent compared to February 2012.
“It is a positive sign to see that both the industrial square footage leased and the average industrial lease rate was up in February. I am cautiously optimistic, but we will likely continue to see some volatility in the number and size of transactions from month to month. Economic growth in Canada continues to trend below average and economic uncertainty persists south of the border,” said TREB Commercial Division Chair Cynthia Lai.
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