Over 900,000 sq. ft. of commercial/industrial/office space was leased through the TREB MLS system in October, the best performance since June, Commercial Council Chair Dennis Lunow reported today. Lease prices continued to creep upward, Lunow noted, with industrial rates gaining 3% to $5.08 per sq ft over last month’s $4.93. In addition, commercial/retail rates rose marginally, to $12.80 per sq ft from September’s $12.78.
Sales Market Highlights TREB’s MLS system recorded 47 sold commercial transactions in October, down from the 56 sales recorded in September. Most of the activity (30 sales) took place in the industrial sector (0-5,000 sq. ft.). Here prices fell to $58.04 per sq. ft. from September’s $59.71 per sq. ft., a modest decline of about 3 per cent