Despite Numbers, Market Still Strong
Leased space in April declined 7.3% compared with April 2012, according to theToronto Real Estate Boards (TREB) most recent commercial market figures. Doeconomic naysayersknow something the rest of us dont?Industrial properties--dependent on imports and exports--accounted for three quarters of all square footage leased (466k SF), but that was down 24% compared with the same period last year. However, as TREB commercial division chair Cynthia Lai says, the average net industrial lease rate per SF for transactions through MLS was up. The demand is still enough to sustain the price, she tells us. That even stands up when factoring in all the American brokerages in the market doing deals outside of MLS. I am hearing they are still doing well, she adds.
