Greater Toronto REALTORS report May commercial figures
TORONTO, JUNE 3, 2011 ` Toronto Real Estate Board (TREB) Commercial Members reported 936,769 square feet of leased space in May 2011, up 98 per cent from the 472,278 leased square feet reported in May 2010.
"Strong growth in the Canadian economy during the first quarter benefitted the commercial real estate market in the Greater Toronto Area. Recent growth in the manufacturing, transportation and warehousing, and wholesaling sectors has been especially beneficial to the industrial segment of the market," noted Toronto Real Estate Board Commercial Division Chair Larry Purchase.
By category, TREB Commercial Members leased 814, 144 square feet of industrial space, up 131% per cent from 352,009 square feet leased in May 2010. There was 42,436 square feet of commercial space leased during the month, a 32% per cent decline from the 62,767 square feet leased in May 2010. Finally, 80,189 square feet of office space was leased, up 39 per cent from the 57,502 square feet leased in May 2010.
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