"Riding the wave of renewed economic growth and the recovering labour market, the volume of IC&I leased space continues to run well above last year's levels," Commercial Council Chair Larry Purchase noted."

By category, TREB Commercial Members leased 644,830 square feet of industrial space, up 176 per cent over last July's total of 233,342 square feet. In addition, they leased 47,406 square feet of commercial space, up 20 per cent over July 2009's 39,575 figure. Finally, 32,354 square feet of office space was leased- down 19 per cent from the 39,854 square feet recorded during the same month last year.

Average lease rates were mixed in July. Industrial lease rates for all size categories rose four per cent to $5.53 per square foot net (sfn) from the $5.33/sfn recorded in July of 2009. Commercial space leased for an average of $19.75/sfn – up 24 per cent from the $15.91/sfn figure recorded for the same month last year. Finally, office space leased for a rate of $10.28/sfn – down 14 per cent from last July's $11.98/sfn figure.

Information on Commercial Real Estate in Toronto

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