The Toronto commercial market had another good month in September, with space leased and average lease rates up from both August 2000 and September 1999, Commercial Council Chair Dennis Lunow announced today.
“Historically,” Mr. Lunow said, “the fall market tends to show an increase in activity, and with this increase comes a working down of inventory and a resultant increase in rates.” Among the highlights of this month’s report: • Total space leased through the Board came in at 989,083 square feet, up 17% from September of 1999, and up 9% from the 910,936 square feet recorded in August. • Average lease rates for all classes of Industrial space rose to $5.19 sfn, up 5% from last September’s $4.93, and up 3% from the $5.04 sfn recorded in August.
“September gave us nothing but good news,” Mr. Lunow concluded. Sales Market Highlights In addition, there were 65 sales of Industrial/Commercial properties recorded by the TREB MLS system, up slightly from the 56 recorded in September of last year.