TORONTO, ONTARIO, September 6, 2018 – Toronto Real Estate Board President Garry
Bhaura announced that TREB Commercial Network Members reported over 275,000
square feet of leased space, in transactions undertaken on a per square foot net basis
with pricing disclosed, across the industrial, commercial/retail and office market segments.

While the overall amount of space leased was down year-over-year, the amount of space
leased in the important industrial market segment was up substantially. Two-thirds of total
space leased was in the industrial segment, which generally accounts for the majority of
space leased through TREB’s MLS® System.

Year-over-year changes in average lease rates were mixed in August 2018. The average
industrial and office lease rates were up compared to August 2017. The average
commercial/retail lease rate was down over the same time period. It is important to note
that annual changes in average lease rates can be the result of changing market
conditions and changes in the mix of properties leased from one year to the next.

“The regional economy in the Greater Toronto Area remains very healthy. The
unemployment rate is low from a historic perspective, which suggests positive conditions
for many businesses operating in the GTA and Greater Golden Horseshoe more broadly.
While we certainly must be mindful of the potential impacts of trade-related issues, it
seems like conditions are in place to keep the demand for commercial real estate strong
moving forward,” said Mr. Bhaura.

There were 39 combined industrial, commercial/retail and office transactions reported
through TREB’s MLS® System with pricing disclosed in August 2018 – up from 34
transactions in August 2017. Annual changes in average sale prices per square foot were
varied based on changing market conditions and changes in the mix of properties leased
from one year to the next.

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