Commercial Real Estate News Blog

John Vivadelli, CEO and founder of AgilQuest Corporation, talks about commercial real estate potentially facing a perfect storm - one that will utterly change the capital markets and the way corporations account for their office space on their balance sheets.

Residential rents are slumping and landlord concessions increasing, following an influx of property to market in the Northern Emirates. Meanwhile, utility snafus have hampered office rents, but government efforts at real estate market stimulus and oversight are in the works. See the following article...

Fund Acquires Dallas Office Buildings for $130 Million

Office Tenants and Landlords Battle for Upper Hand

In Uncertain Times, Stable D.C. Office Market Attracts Buyers

Hines Snaps Up $20.4 million Office Property

That’s what BC’s Civil Forfeiture Office calls Royal Bank and BMO, according to the Vancouver Province. The charge results from RBC and BMO allegedly taking a blind eye to mortgage...

Atlanta Begins to Pare Down Glut of Office Space

$20.6 Million Medical Office Deal in Arlington, Va. Heralds Sales Pickup

MARKETWIRE
Wed May 5 2010, 9:30am ET
Dateline: TORONTO, ONTARIO

TORONTO, ONTARIO–(Marketwire – May 5, 2010) – In April, TREB Commercial Members reported 1,155,944 square feet of leased space, up 148 per cent over the 466, 837 square feet of leased space recorded during April 2009, Commercial Council Chair Garry Lander announced today.

“The above average rates of economic growth experienced over the past two quarters has benefitted the GTA commercial real estate market. Both goods producing and services producing sectors have rebounded strongly, resulting in steady employment growth,” Mr. Lander said. “April’s leased space figure, the best monthly result for 2010, points to the fact that GTA businesses are confident that growth will continue and are acquiring the necessary space.”

Industrial space in all size categories leased for an average of $4.79 per square foot net (sfn) compared to $5.43/sfn recorded in April 2009. Commercial space leased for an average of $12.34/sfn compared to $14.22 for the same month last year. The average lease rate for office space was $12.78/ sfn compared $12.12/sfn last year.

Sales Market Highlights

TREB Commercial Members reported 58 sales of IC&I properties in April, including 23 industrial buildings of all size categories with an average selling price of $53.66 per square foot. Non-MLS sources provided an average selling price of $52.90 per square foot for the same time period.

Complete copy of the Commercial Realty Watch at www.TREBCommercial.com

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