Description: Toronto Regional Real Estate Board is the online information source for comprehensive coverage of real estate listings and services in the Greater Toronto area.
real estate (46254) market (3579) commercial real estate (2083) toronto real estate (260) toronto mls (45) treb (18) toronto real estate board (14) trreb (8) toronto regional real estate board (8) ontario land transfer tax (6)
TRREB Commercial Network Members reported 5,195,707 square feet of leased space through TRREB's MLS® System in Q1 2023 for all lease transaction types across the industrial, commercial/ retail and office market segments. This result represented a 20 per cent per cent decrease compared to the Q1 2022 result of 6,498,421 square feet.
Year-over-year changes in space leased were down across all three market segments.
Annual changes in average lease rates for transactions with pricing disclosed were mixed. The average industrial lease rate for Q1 2023 was $13.89, in line with $13.80 in Q1 2022. The average commercial/retail lease rate was $29.04, down from $39.34 in Q1 2022. The average office lease rate, at $15.48, was in line with the average reported in Q1 2022.