TORONTO, June 4, 2018 – Toronto Real Estate Board President Tim Syrianos announced that TREB Commercial Members reported 210,579 square feet of combined industrial, commercial/retail and office space leased through the TREB MLS® System, on a per square foot net basis with pricing disclosed, in May 2018. This result was down from 389,671 square feet of leased space reported in May 2017. In a departure from the norm, the industrial market segment did not account for the largest share of leased space reported in May. This was due to the fact that no large spaces of 50,000 or more square feet were reported leased with pricing disclosed. This was also a key reason why the average industrial lease rate, for transactions with pricing disclosed, was substantially higher than the May 2017 average on a per square foot net basis. Average lease rates are generally higher for smaller properties. The average commercial/retail lease rate, on a per square foot net basis, was up to $24.35 in May 2018