Click here to close now.

Welcome!

MICROSOFT CLOUD Authors: Liz McMillan, Elizabeth White, Pat Romanski, Jaynesh Shah, Carmen Gonzalez

News Feed Item

Toronto Real Estate Board Reports Commercial Market Figures

TORONTO, ONTARIO -- (Marketwired) -- 07/04/14 -- Stepping into his role as President of the Toronto Real Estate Board, Paul Etherington announced a year-over-year increase in combined industrial, commercial/retail and office space leased through the TorontoMLS system in the second quarter of 2014. There was over 5.8 million square feet of total space leased in Q2 2014 - up by 15.6 per cent compared to Q2 2013. At over 4.2 million square feet, the amount of industrial space leased was up by 10.8 per cent year-over-year. The industrial segment accounted for almost three quarters of total leased space.

Annual change in average lease rates was mixed. The average industrial lease rate, for properties leased on a per square foot net basis for which pricing was disclosed, was $5.10 - up by 5.5 per cent in comparison to Q2 2013. The average commercial lease rate was down by 2.4 per cent to $18.93 per square foot net. The average office lease rate was essentially unchanged compared to the same time frame last year.

"The industrial leasing market can be considered an indicator of business confidence. A lot of industrial activity in the Greater Toronto Area is pointed at the production of goods for export abroad and particularly south of the border to the United States. If we continue to see an uptick in industrial leasing, this could suggest that an increasing number of businesses are preparing for an upturn in export orders. However, it is important to point out that there still exists some uncertainty with regard to the value of the Canadian Dollar, so we could still experience some volatility in leasing activity moving forward," said Toronto Real Estate Board President Paul Etherington.

There was a total of 239 industrial, commercial/retail and office properties sold through the TorontoMLS system in the second quarter of 2014. This result was down from 342 transactions reported in Q2 2013. Most of the decline was in the industrial market segment. The average selling price on a per square foot basis for transactions where pricing was disclosed was up for industrial properties. Average selling prices were down for commercial/retail properties and office properties.

"Changes in average selling prices were the result of both market forces and a different mix of properties sold, in terms of type, size and geography, this year compared to last. Business investment in Canada has been slow to recover since the recession. However, if we see a sustained recovery in the export sector, investment in industrial, commercial/retail and office properties will likely increase," continued Mr. Etherington.


Second Quarter 2014: All Commercial Lease Transactions      
Total Leased Space for All Lease Transaction Types on       
 TorontoMLS                                                 
                                                            
                         Total Leased Square Feet           
                       Q2 2014        Q2 2013       % Change
------------------------------------------------------------
Industrial           4,249,686      3,835,033          10.8%
------------------------------------------------------------
Commercial             803,914        538,137          49.4%
------------------------------------------------------------
Office                 764,383        658,046          16.2%
------------------------------------------------------------
Total                5,817,983      5,031,216          15.6%
                                                            
Second 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              
                       Q2 2014        Q2 2013       % Change 
------------------------------------------------------------ 
Industrial           1,641,909      1,930,865         -15.0% 
------------------------------------------------------------ 
Commercial             308,473        214,506          43.8% 
------------------------------------------------------------ 
Office                 252,780        258,121          -2.1% 
------------------------------------------------------------ 
Total                2,203,162      2,403,492          -8.3% 

Second Quarter 2014: Per Square Foot Net Commercial Leasing 
 Summary                                                    
Lease Transactions Completed on a Per Square Foot Net Basis 
 with Pricing Disclosed on TorontoMLS                       
                                                            
                             Average Lease Rate             
                       Q2 2014        Q2 2013       % Change
------------------------------------------------------------
Industrial               $5.10          $4.83           5.5%
------------------------------------------------------------
Commercial              $18.96         $19.43          -2.4%
------------------------------------------------------------
Office                  $13.73         $13.71           0.1%
------------------------------------------------------------
                                                            
                                                            
Second Quarter 2014: All Commercial Sale Transactions       
Total Number of Sales on TorontoMLS                         
                                                            
                                Total Sales                 
                       Q2 2014        Q2 2013       % Change
------------------------------------------------------------
Industrial                  92            146         -37.0%
------------------------------------------------------------
Commercial                 106            130         -18.5%
------------------------------------------------------------
Office                      41             66         -37.9%
------------------------------------------------------------
Total                      239            342         -30.1%
                                                            
Second Quarter 2014: Commercial Sales Completed with Pricing 
 Disclosed on TorontoMLS                                     
                                                             
                          Sales (Price Disclosed)            
                       Q2 2014        Q2 2013       % Change 
-------------------------------------------------------------
Industrial                  89            118         -24.6% 
-------------------------------------------------------------
Commercial                 106            106           0.0% 
-------------------------------------------------------------
Office                      41             44          -6.8% 
-------------------------------------------------------------
Total                      236            268         -11.9% 

Second Quarter 2014: Commercial Sales Completed with Pricing
 Disclosed on TorontoMLS                                    
                                                            
                    Avg. Sale Price Per Sq. Ft. (Pricing    
                                 Disclosed)                 
                       Q2 2014        Q2 2013       % Change
------------------------------------------------------------
Industrial              $97.58         $89.48           9.0%
------------------------------------------------------------
Commercial             $142.76        $168.01         -15.0%
------------------------------------------------------------
Office                 $169.90        $183.80          -7.6%
------------------------------------------------------------
                                                            
Source: TREB                                                                
NOTE: Some table totals may differ due to conversion and rounding.          

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 39,000 TREB Members serve consumers in the Greater Toronto Area. TREB is Canada's largest real estate board.

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
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impact.
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, data security and privacy.
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example t...
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will addresses this very serious issue of profound change in the industry.
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using the URL as a basic building block, we open this up and get the same resilience that the web enjoys.
We are reaching the end of the beginning with WebRTC, and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) i...
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, June 9-11, 2015, at the Javits Center in New York City. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be
Container frameworks, such as Docker, provide a variety of benefits, including density of deployment across infrastructure, convenience for application developers to push updates with low operational hand-holding, and a fairly well-defined deployment workflow that can be orchestrated. Container frameworks also enable a DevOps approach to application development by cleanly separating concerns between operations and development teams. But running multi-container, multi-server apps with containers is very hard. You have to learn five new and different technologies and best practices (libswarm, sy...
SYS-CON Events announced today that DragonGlass, an enterprise search platform, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. After eleven years of designing and building custom applications, OpenCrowd has launched DragonGlass, a cloud-based platform that enables the development of search-based applications. These are a new breed of applications that utilize a search index as their backbone for data retrieval. They can easily adapt to new data sets and provide access to both structured and unstruc...
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session at @ThingsExpo, Ryan Bagnulo, Solution Architect / Software Engineer at SOA Software, focused on desi...
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and assessments, including a decade of leading incident response and digital forensics. He is co-author of t...
SYS-CON Events announced today that MetraTech, now part of Ericsson, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Ericsson is the driving force behind the Networked Society- a world leader in communications infrastructure, software and services. Some 40% of the world’s mobile traffic runs through networks Ericsson has supplied, serving more than 2.5 billion subscribers.
While great strides have been made relative to the video aspects of remote collaboration, audio technology has basically stagnated. Typically all audio is mixed to a single monaural stream and emanates from a single point, such as a speakerphone or a speaker associated with a video monitor. This leads to confusion and lack of understanding among participants especially regarding who is actually speaking. Spatial teleconferencing introduces the concept of acoustic spatial separation between conference participants in three dimensional space. This has been shown to significantly improve comprehe...
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists will peel away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud environment, and we must architect and code accordingly. At the very least, you'll have no problem fil...
The Domain Name Service (DNS) is one of the most important components in networking infrastructure, enabling users and services to access applications by translating URLs (names) into IP addresses (numbers). Because every icon and URL and all embedded content on a website requires a DNS lookup loading complex sites necessitates hundreds of DNS queries. In addition, as more internet-enabled ‘Things' get connected, people will rely on DNS to name and find their fridges, toasters and toilets. According to a recent IDG Research Services Survey this rate of traffic will only grow. What's driving t...
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
The Internet of Things promises to transform businesses (and lives), but navigating the business and technical path to success can be difficult to understand. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, demonstrated how to approach creating broadly successful connected customer solutions using real world business transformation studies including New England BioLabs and more.
The recent trends like cloud computing, social, mobile and Internet of Things are forcing enterprises to modernize in order to compete in the competitive globalized markets. However, enterprises are approaching newer technologies with a more silo-ed way, gaining only sub optimal benefits. The Modern Enterprise model is presented as a newer way to think of enterprise IT, which takes a more holistic approach to embracing modern technologies.
Every day we read jaw-dropping stats on the explosion of data. We allocate significant resources to harness and better understand it. We build businesses around it. But we’ve only just begun. For big payoffs in Big Data, CIOs are turning to cognitive computing. Cognitive computing’s ability to securely extract insights, understand natural language, and get smarter each time it’s used is the next, logical step for Big Data.