Welcome!

Microsoft Cloud Authors: Janakiram MSV, Yeshim Deniz, David H Deans, Andreas Grabner, Stackify Blog

News Feed Item

Commercial Realtors(R) Report Latest Commercial Market Figures

TORONTO, ONTARIO -- (Marketwired) -- 04/03/14 -- Toronto Real Estate Board Commercial Network Members reported a year-over-year increase in the total amount of combined industrial, commercial/retail and office space leased through the TorontoMLS system in the first quarter of 2014. In Q1 2014, total space leased amounted to 4,517,411 square feet - up by 3.6 per cent in comparison to 4,363,905 square feet leased during the first three months of 2013. The largest annual rate of growth was reported for the office market segment (+29 per cent), followed by the commercial/retail segment (+6.9 per cent). The total amount of industrial space leased was down by less than one per cent year-over- year.

Annual change in average lease rates was mixed. The average commercial lease rate, for properties leased on a per square foot net basis for which pricing was disclosed, was up by almost 23 per cent. Some of this change was due to a different mix of properties leasing this year compared to last. The average industrial lease rate was down only slightly compared to last year and the average office lease rate was down by approximately six per cent.

"Since coming out of the recession, we have certainly seen a few false starts as it relates to economic growth, particularly where business investment and exports are concerned. However, the first GDP data point for 2014 was very encouraging. Hopefully, the positive result for first quarter leasing activity in the GTA points to continued economic growth, as businesses take on more space in response to anticipated growth in demand for goods and services produced in southwestern Ontario," said Commercial Committee Chair Cynthia Lai.

There were 197 combined industrial, commercial/retail and office property sales through the TorontoMLS system in the first quarter of 2014. Average selling prices on a per square foot basis for transactions where pricing was disclosed were up for industrial and commercial/retail properties and down for office properties. In addition to market forces, annual price changes also resulted from changes in the mix of properties sold, in terms of both size and geography.

"Conditions are in place to support an increase in commercial real estate investment in the GTA. The expectation is that the US economy will continue to pick up steam, which should help facilitate the long-awaited recovery in the Canadian export sector. All of this, coupled with the continuation of accommodative borrowing costs, could prompt an increase in sales activity moving forward," continued Ms. Lai.

First Quarter 2014: All Commercial Lease Transactions

Total Leased Space for All Lease Transaction Types on TorontoMLS

Total Leased Square Feet
                                 Q1 2014           Q1 2013          % Change
----------------------------------------------------------------------------
Industrial                     3,393,108         3,407,593             -0.4%
----------------------------------------------------------------------------
Commercial                       532,818           498,308              6.9%
----------------------------------------------------------------------------
Office                           591,485           458,004             29.1%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Total                          4,517,411         4,363,905              3.5%

First Quarter 2014: Per Square Foot Net Commercial Leasing Summary

Lease Transactions Completed on a Per Square Foot Net Basis with Pricing
Disclosed on TorontoMLS


Leased Square Feet                      Average Lease Rate
                                     %                                     %
             Q1 2014   Q1 2013  Change               Q1 2014  Q1 2013 Change
--------------------------------------  ------------------------------------
Industrial 1,675,453 1,445,762   15.9%   Industrial    $5.16    $5.19  -0.6%
--------------------------------------  ------------------------------------
Commercial   193,305   219,767  -12.0%   Commercial   $20.35   $16.58  22.8%
--------------------------------------  ------------------------------------
Office       229,967   150,504   52.8%     Office     $12.30   $13.07  -5.9%
--------------------------------------  ------------------------------------
--------------------------------------  ------------------------------------
Total      2,098,725 1,816,032   15.6%


First Quarter 2014: All Commercial Sale Transactions

Total Number of Sales on TorontoMLS

Total Sales
                                 Q1 2014           Q1 2013          % Change
----------------------------------------------------------------------------
Industrial                            73               113            -35.4%
----------------------------------------------------------------------------
Commercial                            88               103            -14.6%
----------------------------------------------------------------------------
Office                                36                50            -28.0%
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Total                                197               266            -25.9%

First Quarter 2014: Commercial Sales Completed with Pricing Disclosed on
TorontoMLS


                                       Avg. Sale Price Per Sq. Ft.
Sales (Price Disclosed)                (Pricing Disclosed)
            Q1 2014 Q1 2013  % Change              Q1 2014 Q1 2013  % Change
-------------------------------------  -------------------------------------
Industrial       68      82    -17.1%  Industrial   $81.78  $75.08      8.9%
-------------------------------------  -------------------------------------
Commercial       88      87      1.1%  Commercial  $234.79 $182.29     28.8%
-------------------------------------  -------------------------------------
Office           36      37     -2.7%  Office      $186.89 $229.36    -18.5%
-------------------------------------  -------------------------------------
-------------------------------------  -------------------------------------
Total           192     206     -6.8%

Greater Toronto REALTORS® are passionate about their work. They are governed by a strict Code of Ethics and share a state-of-the-art Multiple Listing Service. Over 38,000 TREB Members serve consumers in the Greater Toronto Area. The Toronto Real Estate Board is Canada's largest real estate board.

Contacts:
Media Inquiries:
Mary Gallagher
Senior Manager Public Affairs
(416) 443-8158
[email protected]

Twitter: www.twitter.com/TREBhome
Facebook: www.facebook.com/TorontoRealEstateBoard
YouTube: www.youtube.com/TREBChannel

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
Nordstrom is transforming the way that they do business and the cloud is the key to enabling speed and hyper personalized customer experiences. In his session at 21st Cloud Expo, Ken Schow, VP of Engineering at Nordstrom, discussed some of the key learnings and common pitfalls of large enterprises moving to the cloud. This includes strategies around choosing a cloud provider(s), architecture, and lessons learned. In addition, he covered some of the best practices for structured team migration an...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, provided a fun and simple way to introduce Machine Leaning to anyone and everyone. He solved a machine learning problem and demonstrated an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intelligence and B...
Recently, REAN Cloud built a digital concierge for a North Carolina hospital that had observed that most patient call button questions were repetitive. In addition, the paper-based process used to measure patient health metrics was laborious, not in real-time and sometimes error-prone. In their session at 21st Cloud Expo, Sean Finnerty, Executive Director, Practice Lead, Health Care & Life Science at REAN Cloud, and Dr. S.P.T. Krishnan, Principal Architect at REAN Cloud, discussed how they built...
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud ...
22nd International Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, and co-located with the 1st DXWorld Expo will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud ...
DevOps at Cloud Expo – being held June 5-7, 2018, at the Javits Center in New York, NY – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Among the proven benefits,...
@DevOpsSummit at Cloud Expo, taking place June 5-7, 2018, at the Javits Center in New York City, NY, is co-located with 22nd Cloud Expo | 1st DXWorld Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait...
Cloud Expo | DXWorld Expo have announced the conference tracks for Cloud Expo 2018. Cloud Expo will be held June 5-7, 2018, at the Javits Center in New York City, and November 6-8, 2018, at the Santa Clara Convention Center, Santa Clara, CA. Digital Transformation (DX) is a major focus with the introduction of DX Expo within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive ov...
SYS-CON Events announced today that T-Mobile exhibited at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on qua...
SYS-CON Events announced today that Cedexis will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Cedexis is the leader in data-driven enterprise global traffic management. Whether optimizing traffic through datacenters, clouds, CDNs, or any combination, Cedexis solutions drive quality and cost-effectiveness. For more information, please visit https://www.cedexis.com.
SYS-CON Events announced today that Google Cloud has been named “Keynote Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Companies come to Google Cloud to transform their businesses. Google Cloud’s comprehensive portfolio – from infrastructure to apps to devices – helps enterprises innovate faster, scale smarter, stay secure, and do more with data than ever before.
SYS-CON Events announced today that Vivint to exhibit at SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California. As a leading smart home technology provider, Vivint offers home security, energy management, home automation, local cloud storage, and high-speed Internet solutions to more than one million customers throughout the United States and Canada. The end result is a smart home solution that sav...
SYS-CON Events announced today that Opsani will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Opsani is the leading provider of deployment automation systems for running and scaling traditional enterprise applications on container infrastructure.
SYS-CON Events announced today that Nirmata will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Nirmata provides a comprehensive platform, for deploying, operating, and optimizing containerized applications across clouds, powered by Kubernetes. Nirmata empowers enterprise DevOps teams by fully automating the complex operations and management of application containers and its underlying ...
SYS-CON Events announced today that Opsani to exhibit at SYS-CON's 21st Cloud Expo, which will take place on October 31 through November 2nd 2017 at the Santa Clara Convention Center in Santa Clara, California. Opsani is creating the next generation of automated continuous deployment tools designed specifically for containers. How is continuous deployment different from continuous integration and continuous delivery? CI/CD tools provide build and test. Continuous Deployment is the means by which...