Commercial Update

Almost 500,000 Square Feet Leased In April

May 20, 2009 — TREB Members reported 466,837 square feet of leased space in April, Commercial Council Chair Garry Lander reported today. This is in comparison to the 1,108,430 recorded in April of 2008. “While still trading below last year’s levels, the result represents an 11 per cent month-over-month increase from March,” Mr. Lander noted.

Industrial space in all size categories leased for $5.43 last month, unchanged from April 2008. Commercial space traded for $14.22, down five per cent from the $14.91 figure seen in April of 2008.

Sales Market Highlights

TREB Members recorded 30 sales of IC&I properties in April, including 15 industrial buildings of all size categories which averaged $61.33 per square foot. This compares to the $100.98 per square foot obtained from non-MLS sources.

Information Provided by the Toronto Real Estate Board

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