In August both total square footage leased and average price per square foot were up over the same month last year, TREB’s Commercial Council Chair Dennis Lunow announced today. Mr. Lunow noted that: • Overall, 910,936 square feet of space of all types was leased through the Board last month, up 14% from the 798,948 recorded in August of 1999.
• In the Industrial space category, 782,773 square feet of space passed through TREB’s MLS system, up 10% from the 712,836 recorded last August. In addition, lease prices rose 6% to $5.04. • Lease prices for commercial/retail space between 0-5,000 square feet in size rose 27% to $14.12 sfn from the comparable figure of $11.12 sfn. • Lease prices for office space between 0-5,000 square feet in size rose 28% to $9.21 sfn from last year’s $7.19.
Furthermore, the amount of office space leased through the Board, at 56,021 square feet, was over double the August ’99 total. Sales Market Highlights In addition, 68 sold transactions were recorded through the Commercial portion of TREB’s MLS system. This is up 39% from the 49 recorded in August ’99, and down marginally from the 69 sold in July. Due to technical difficulties, we are unable to provide data on land sales this month. The problem will be corrected for our September edition.