toronto real estate market watch commercial october 2010

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For All TREB MemberInquiries: (416) 443-8152

October 2010

0

10

20

30

40

50

60

70

80

OctSepAugJulJunMayAprMarFebJanDecNovOct

Total Number of Commercial Sales

2009 2010

36 units sold

0.0

0.2

0.4

0.6

0.8

1.0

1.2


Total Square Footage of all Leased Space

2009 2010

648,934 sq. ft.

Executive Council,Commercial Division

Larry B. PurchaseChairman

Garry LanderPast Chairman

Bob AireyArmando Bernardo John BorrelliJohn CrombiePeter De GuerreCynthia Lai, FRI Tony MaJoe PanchyshynDonald Patterson Joanne RosenGeorge SachsNeel Surendran, CCIMMario Vitelli

Lease Transactions Up Four Per Cent Over 2009 November 3, 2010 — In October, TREB Commercial Members reported 648,934 square feet of leased space, up four per cent from the 625,841 leased square feet recorded in October of 2009.“Businesses have become more upbeat regarding future sales growth and their intentions to make capital investments. This improvement in sentiment has translated into heightened demand for space from which to operate,” Commercial Council Chair Larry Purchase.TREB Commercial Members leased 511,839 square feet of industrial space, up 24 per cent over last October’s total of 412,360 square feet. In addition, 43,649 square feet of commercial space leased during the month, which constituted a 63 per cent decline from October 2009’s 118,914 square foot figure. Finally, commercial members leased 93,446 square feet of office space, down one per cent from the 94,567 square feet recorded during the same month last year.Industrial space in all size categories leased for an average of $5.14 per square foot net (sfn), down 11 per cent from the average of $5.78/sfn reported in October of 2009. Commercial space traded for an average of $18.19/sfn, a 23 per cent increase from the average of $14.74/sfn recorded during the same period last year. Office space traded for an average of $11.20/sfn, rising 23 per cent from the average of $9.11/sfn for October 2009.

Sales Market HighlightsTREB Commercial Members recorded 36 sales of IC&I properties last month. Of these transactions, 17 were industrial buildings of all size categories, which sold for an average price of $125.29 per square foot – up 141 per cent from the average of $51.90 last year. The average sales price for industrial properties sold through the MLS® was also higher than the average of $96.54 per square foot derived from non-MLS® sources. The 19 Commercial/Retail transactions recorded in October sold for an average price of $235.32 per square foot. This figure is up 84 per cent from the average of $127.68 per square foot recorded in October of 2009. u

2

$0

$25

$50

$75

$100

$125

$150

$175


Sold Industrial Properties, 5,001 - 15,000 Square Fee

Dol

lars

per

sq.

ft.

2009 2010

$146.04/Square Foot

SOLD INDUSTRIAL PROPERTIES

October 2010

$144.26/Square Foot

$0

$25

$50

$75

$100

$125

$150

$175


Sold Industrial Properties, 0 - 5,000 Square Feet

Dol

lars

per

sq.

ft.

20102009

Area Sales Total Sold Av. Price TorontoE07 1 2,000 $174.00W01 1 4,000 $115.00W05 1 1,852 $180.35Total: 3 7,852 $145.44

EastE14 1 2,768 $92.85Total: 1 2,768 $92.85

WestW20 1 4,286 $145.01W21 1 2,100 $152.38W24 1 1,750 $128.57W28 1 1,250 $152.00Total: 4 9,386 $144.52

NorthN08 3 6,184 $155.72N10 2 3,450 $161.59Total: 5 9,634 $157.83

Grand Total: 13 29,640 $144.26

0 - 5,000 SQ. FT.

Area Sales Total Sold Av. Price TorontoE08 1 10,000 $112.00W07 1 5,463 $156.51Total: 2 15,463 $127.72

NorthN11 1 8,674 $178.69Total: 1 8,674 $178.69

Grand Total: 3 24,137 $146.04

5,001 - 15,000 SQ. FT.

3

October 2010

SOLD INDUSTRIAL PROPERTIES

$0

$25

$50

$75

$100

$125

$150


Sold Industrial Properties, 50,001 Square Feet & Over

Dol

lars

per

sq.

ft.

2009 2010

N/A

N/A

$0

$25

$50

$75

$100

$125

$150


Sold Industrial Properties, 15,001 - 50,000 Square Feet

Dol

lars

per

sq.

ft.

2009 2010

$78.77/Square Foot

N/A

Area Sales Total Sold Av. Price

WestW17 1 22,850 $78.77Total: 1 22,850 $78.77

Grand Total: 1 22,850 $78.77

15,001 - 50,000 SQ. FT.


Grand Total: N/A N/A N/A

50,001 SQ. FT. AND OVER

All information on this publication is copyright © 2009. Toronto Real Estate Board Commercial Division. All rights reserved.

Commercial DivisionToron to Rea l Es ta te Boardwww. t rebcommerc ia l . com

4

LEASED INDUSTRIAL SPAcE

October 2010

$0

$5

$10

$15

$20


Leased Industrial Space, 0 - 5,000 Square Feet

Dol

lars

per

sq.

ft. n

et

2009 2010

$6.17/sfn

$0

$5

$10

$15

$20


Leased Industrial Space, 5,001 - 15,000 Square Feet

Dol

lars

per

sq.

ft. n

et

2009 2010

$6.09/sfn

Area Leased Total Leased Av. Price

TorontoE04 1 1,890 $4.75E08 1 2,020 $4.75E09 1 1,200 $7.95W04 1 4,330 $5.25W05 4 7,868 $5.08W06 1 3,600 $6.00Total: 9 20,908 $5.38

EastE11 2 5,078 $5.85Total: 2 5,078 $5.85

WestW13 5 13,266 $3.81W16 1 1,318 $6.95W17 6 14,467 $5.18W23 1 1,350 $4.25W24 2 7,850 $4.73W27 1 3,500 $10.80W29 1 3,860 $15.54Total: 17 45,611 $6.03

NorthN01 1 1,450 $8.00N03 1 1,605 $9.25N08 8 18,292 $6.41N10 4 9,593 $7.43Total: 14 30,940 $6.95

Grand Total: 42 102,537 $6.17

0 - 5,000 SQ. FT.


TorontoE01 1 7,625 $12.12E09 1 6,000 $8.00W05 1 9,850 $4.25Total: 3 23,475 $7.76

WestW21 3 25,411 $6.24W25 1 9,700 $4.50Total: 4 35,111 $5.76

NorthN08 3 30,559 $5.19Total: 3 30,559 $5.19

Grand Total: 10 89,145 $6.09

5,001 - 15,000 SQ. FT.


TorontoC11 1 47,115 $4.00W05 2 78,768 $4.58W06 1 16,579 $7.75Total: 4 142,462 $4.76

EastE13 1 26,289 $4.50Total: 1 26,289 $4.50

WestW17 1 38,158 $4.25Total: 1 38,158 $4.25

NorthN08 1 47,104 $4.25Total: 1 47,104 $4.25

Grand Total: 7 254,013 $4.56

5

LEASED INDUSTRIAL SPAcE

October 2010

$0

$5

$10

$15

$20


Leased Industrial Space, 50,001 Square Feet & Over

Dol

lars

per

sq.

ft. n

et

2009 2010

$4.50/sfn

N/AN/A N/A N/A$0

$5

$10

$15

$20


Leased Industrial Space, 15,001 - 50,000 Square Feet

Dol

lars

per

sq.

ft. n

et

2009 2010

$4.56/sfn

15,001 - 50,000 SQ. FT.


WestW24 1 66,144 $4.50Total: 1 66,144 $4.50

Grand Total: 1 66,144 $4.50





TorontoE09 1 200 $310.00Total: 1 200 $310.00

NorthN02 1 436 $533.26Total: 1 436 $533.26

Grand Total: 2 636 $463.05

6

SOLD cOmmERcIAL/RETAIL PROPERTIES

October 2010

$0

$100

$200

$300

$400

$500

$600

$700

$800

$900

$1000


Sold Commercial/Retail Properties, 0 - 1,000 Square Feet

Dol

lars

per

sq.

ft.

2009 2010

$463.05/Square Foot

$0

$40

$80

$120

$160

$200

$240

$280

$320

$360

$400

OctSepAugJunJunMayAprMarFebJanDecNovOct

Sold Commercial/Retail Properties, 1,001 - 2,500 Square Feet

Dol

lars

per

sq.

ft.

2009 2010

$259.51/Square Foot

0 - 1,000 SQ. FT.


TorontoC04 1 2,200 $511.36E03 1 2,400 $231.25E07 1 1,173 $405.80W10 1 1,320 $134.85Total: 4 7,093 $329.06

EastE15 1 1,800 $144.39E17 1 2,400 $141.67Total: 2 4,200 $142.83

WestW15 1 1,800 $322.22W16 1 1,088 $249.08W17 1 1,300 $169.23W29 1 1,890 $214.29Total: 4 6,078 $242.84

NorthN03 1 1,766 $356.74N08 1 1,205 $158.30N11 1 1,625 $289.23Total: 3 4,596 $280.84

Grand Total: 13 21,967 $259.51

1,001 - 2,500 SQ. FT.

7

SOLD cOmmERcIAL/RETAIL PROPERTIES



October 2010

$0

$40

$80

$120

$160

$200

$240

$280

$320

$360

$400


Sold Commercial/Retail Properties, 2,501 - 5,000 Square Feet

Dol

lars

per

sq.

ft.

2009 2010

$134.21/Square Foot

$0

$30

$60

$90

$120

$150

$180

$210

$240

$270

$300


Sold Commercial/Retail Properties, 5,001 Square Feet and Over

Dol

lars

per

sq.

ft.

2009 2010

$230.05/Square Foot

N/A


NorthC02 1 2,600 $161.54Total: 1 2,600 $161.54

NorthN08 1 2,750 $108.36Total: 1 2,750 $108.36

Grand Total: 2 5,350 $134.21

Area Sales Total Sold Av. Price TorontoC08 1 10,000 $379.50W03 1 15,625 $134.40Total: 2 25,625 $230.05

Grand Total: 2 25,625 $230.05

5,001 SQ. FT. AND OVER2,501 - 5,000 SQ. FT.

$0.0

$7.5

$15.0

$22.5

$30.0


Leased Commercial/Retail Space, 0 - 5,000 Square Feet

Dol

lars

per

sq.

ft.

2009 2010

$19.51/sfn

8

October 2010

LEASED cOmmERcIAL/RETAIL SPAcE

$0

$5

$10

$15

$20

$25

$30


Leased Commercial/Retail Space, 5,001 - 15,000 Square Feet

Dol

lars

per

sq.

ft.

2009 2010

$15.00/sfn

N/A N/A N/A N/AN/A


TorontoC01 2 5,414 $23.36C02 1 814 $41.28C04 1 1,100 $23.00C08 1 1,500 $19.20C12 1 1,000 $33.60E02 1 800 $24.00E05 1 428 $27.00W04 2 2,150 $18.42Total: 10 13,206 $24.09

EastE14 1 700 $12.00Total: 1 700 $12.00

WestW14 1 1,650 $13.00W21 1 1,196 $25.00W27 1 1,080 $15.56W28 1 1,752 $20.55Total: 4 5,678 $18.34

NorthN06 1 1,150 $14.00N07 1 1,889 $22.00N08 1 2,100 $12.50N10 1 4,819 $9.28N11 2 1,331 $32.41Total: 6 11,289 $15.22

Grand Total: 21 30,873 $19.51

0 - 5,000 SQ. FT.


WestE07 1 12,776 $15.00Total: 1 12,776 $15.00

Grand Total: 1 12,776 $15.00

5,001 - 15,000 SQ. FT.

15,001 - 50,00 SQ. FT.






9

LEASED OFFIcE SPAcE

October 2010

$12.06/sfn

$0

$5

$10

$15

$20


Leased Office Space, 0 - 5,000 Square Fee

Dol

lars

per

sq.

ft. n

et

2009 2010

$0

$5

$10

$15

$20


Leased Office Space, 5,001 - 15,000 Square Feet

Dol

lars

per

sq.

ft. n

et2009 2010

$12.15/sfn

Area Leased Total Leased Av. Price EastE15 1 10,200 $15.87Total: 1 10,200 $15.87

NorthN03 2 12,060 $9.00Total: 2 12,060 $9.00

Grand Total: 3 22,260 $12.15


TorontoC01 2 4,532 $11.52C02 1 1,000 $13.33C06 1 120 $32.50C07 1 1,600 $14.00C10 1 750 $10.00C14 1 4,922 $15.00E09 1 780 $18.46W02 1 5,000 $8.00W05 1 485 $7.00Total: 10 19,189 $12.04

EastE14 1 1,655 $12.00Total: 1 1,655 $12.00

WestW14 1 469 $8.00W15 1 819 $16.50W17 2 1,401 $11.02W21 1 890 $16.18W24 1 750 $11.20Total: 6 4,329 $12.82

NorthN01 1 1,350 $14.00N08 2 3,020 $10.02N10 1 968 $8.25N11 3 3,474 $13.31N12 1 494 $12.15Total: 8 9,306 $11.76

Grand Total: 25 34,479 $12.06

5,001 - 15,000 SQ. FT.

Area Leased Total Leased Av. Price Grand Total: N/A N/A N/A

0 - 5,000 SQ. FT.


15,001 - 50,000 SQ. FT.

Area Leased Total Leased Av. Price TorontoW06 1 16,579 $7.75Total: 1 16,579 $7.75

NorthN03 1 20,128 $11.50Total: 1 20,128 $11.50

Grand Total: 2 36,707 $9.81

Area Sales Total Sold Av. Price Total Acre Av. Price

Grand Total: N/A N/A N/A N/A N/A

10

SOLD LAND

October 2010

Area Sales Total Sold Av. Price Total Acre Av. Price

WestW21 1 16,000 $63.13 0.37 $2,729,729.73Total: 1 16,000 $63.13 0.37 $2,729,729.73

NorthN14 1 21,164 $37.09 0.49 $1,602,040.82N22 1 118,048 $8.17 2.71 $355,902.21Total: 2 139,212 $12.57 3.20 $546,717.19

Grand Total: 3 155,212 $17.78 3.57 $772,967.79

130,001 SQ. FT. AND OVER0 - 130,000 SQ. FT.

11

Humber River

5th Concession

Brimley R

d.

Halton Hills/Milton Townline

Durham

-Victoria Line

Brock/Scugog Townline

Durham

/Northum

berland Line

401 Hwy.

35/11

5

Taunton Rd.

Townline Rd.

Taunton Rd. 4th Concession

Lawrence

Midland

Kennedy Rd.

St. Clair

Don V

alle

y P

arkw

a y

Dufferin

Victoria Park

Yonge

Eglinton

Leslie

401

Bayview

Danforth Ave.

Allen Rd.

St. Clair

Bloor

409

Eglinton

Bloor

Q.E.W.

Steeles

Newmarket

Hwy. 407

Major Mackenzie Dr.

Gamble Rd.

Bloomington Rd.

Newmarket

Yonge St.

Hw

y. 404

Steeles

Hwy. 407

Whitchurch/Stouffville

Davis Drive

York-Durham

Line

Durham

23

Hwy. 9

Orangeville

Peel Townline

Winston Churchill

(17th Sideroad)

Mayfield Rd.

Heart Lake Rd.

Wellington Townline

Hw

y. 50 York-Peel Tow

nline

Brampton

Mississauga

Hw

y. 427 Et obicoke C

reek

Hwy. 6

Wellington Townline

Bell School Line

Ninth Line Dundas

BurlOak Rd.

Credit River

Bloor

St. Clair

Bay

view

Eglinton

401

Don River

C1

C2

C3

C8

C9

C10

C11

W1

W2

W3

W4

W5

C4

C6

C7 C14C15

C13C12

W6

W7

W8

W9

W10

Cawthra

2ndLine

BurlingtonMilton/Oakville Line

Winston

Churchill

Hamilton/W

entworth

Townline

Burlington

Oakville

Milton

North

Halton Hills

Milton

W25

W26

W27

W22

W21

W13

W12 W16

W15 W14

W19

W17

W20

Derry Rd.

Brampton

Caledon

W23

W24

W2819th Avenue

Aurora

N02 N01

N03

N04

N05

N06

N07

Markham

MarkhamUnionville

N10

N11

N12

N13

Regional 30

East Gwillimbury

N15

Uxbridge

N16

Lake Simcoe

Georgina

N17

Ro u g e River

Pickering Townline

Durham

23

401

6th Concession

Townline

Durham

23

E12

AjaxPickering

Pickering

Whitby

Oshawa

E13

E18

E14 E15

E19

E16

Scugog

Brock

E21

N24

Lake Scugog

ScugogIsland

NewcastleBowmanvilleE17 E20

Morningside

Coxw

ell

Lake Ontario

Lake Ontario

E1

E6E3

E2

E4

E5 E7 E11

E10

E8

E9

Toronto Real Estate Board

Toronto

NW18

Regional 38

East Gwillimbury

Regional 32

401

Pickering-Ajax

Markham

Rd.

Credit River

Mavis

Hwy. 9

Hw

y. 27

Dufferin/Sim

coe Line

Regional 15

Sunnidale Townline Vespra

Hwy. 9

Steeles

Bathurst

King/Vaughan

New

Tecumseth-Adjala Line

New

Tecumseth/Bradford-W

est Gw

illimbury Tow

nline

Vaughan

King

N08

N14

New Tecumseth BradfordWest GwillimburyN19

N18

Hwy. 89

Bradford-West Gwillimbury/Innisfil

Hwy. 89

Regional 2

Regional 2

Hwy. 9

Townline

Adjala

N20

Tosorontio

N21Essa

N22Innisfil

N23

Hwy. 90

410

Township Line

W29

Average Square Foot Net: The trimmed average of all Net Leases in a particular MLS® district or Area expressed on a per square foot basis. (ie: total $ volume for a district or area ÷ total square footage for the district or area)

Commercial/Retail: Commercial or Retail space for user, excluding Offices and Office Buildings.

Industrial: Industrial buildings or space for user.

Net Lease: A Leasing agreement whereby the tenant pays the rent and certain expenses connected with the leased premises. All information contained in the Commercial Insight concerns Net agreements.

Office: Office space for lease (the Commercial Realty Watch contains no sold information for office buildings).

Total Leased/Total Sold/Sold (space): The amount, expressed in square feet, of space actually leased in a particular MLS® district or Area.

Note: When making use of the figures contained in this report, please be advised that the sold and leased properties reported on are only those listed through the TREB MLS® system. There are transactions that take place outside the purview of this system and therefore cannot not be captured in this report.

TORONTO REAL ESTATE BOARD SERVIcE AREAS

October 2010

GLOSSARy OF TERMS