American Appraisal: GTA Industrial Real Estate Study 2013
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The document analyzes 2,500 industrial real estate sales in the Greater Toronto Area between 2007-2013 to understand the impact of the recession. It finds that: 1) Total industrial real estate sales in the GTA dropped 60% due to the recession, with Peel region seeing the highest sales volume of $3.7 billion. 2) Peel had the hottest market with 542 light industrial properties sold, followed by Toronto at 509 sales. 3) The average building size purchased decreased by 16,608 square feet since the recession. 4) Durham region saw the greatest price volatility with a 55% spread between its highest ($67/square foot) and lowest ($43/square foot) average unit
American Appraisal: GTA Industrial Real Estate Study 2013
- 1. Greater Toronto Area industrial real estate-five years later To help better understand the recession’s continuing economic consequences for industrial real estate, American Appraisal analyzed 2,500 industrial real estate sales that occurred within the Greater Toronto Area (GTA) between January 2007 and June 2013. Where we stand today: how the recession impacted GTA industrial real estate Prime real estate $ $3.7 billion SOLD The amount spent on 852 industrial property purchases in Peel since Jan 2007, making it the region that has seen the highest sales volume. 2008 2009 2010 Total plunge 60% $ Dip the total GTA industrial real estate sales took as a result of the recession. SOLD .00 $96 YORK $ 2008 2009 2010 SOLD $4 3 .00 DURHAM 2008 2009 2010 Hottest spot .00 $96 YORK Shrinkage $4 3 .00 542 $ The total number of light industrial properties* sold in Peel, making it the GTA’s hottest 96.00 market. $ Toronto SOLD is the runner-up with 509 sales. 2008 2009 2010 DURHAM YORK DURHAM 16,608 SF The decrease in average building size being purchased. .00 Bumpiest Ride 55% The greatest spread between highest and lowest average unit price—55%—was seen in Durham between 2010 ($67/SF) and 2011 ($43/SF). Least Volatile $96 YORK $4 3 .00 DURHAM Highest unit sale price $96/SF The highest average price per square foot* paid in 2013 happened in York Region. $18/SF Lowest unit sale price The most stable area with respect to change in the average unit sale price* is Halton with a total spread of $18/SF. The lowest average price per square foot* paid since the recession hit was in Durham in 2011. * Denotes general purpose light industrial property. $4 3 .00 $43/SF