Commercial Property Sales Total $4.7 Billion in Q3

The total value of property sales across the Greater Toronto Area in Q3-2019 was $4.7 billion, declining marginally from $4.8 billion in Q3-18. The total volume of sales increased 10% from a year ago to 352 transactions.

ICI land experienced the largest year-over-year growth (+$708 million; +196%) to $1.1 billion, with the sale of East Harbour, a master-planned commercial development, selling for a sum of $690 million to Cadillac Fairview.

Apartment sites experienced a year-over-year gain of 119% (+$465 million), with the highest valued sales this quarter located at 33 Avenue Road & 140 Yorkville Road for $171 million, 30 Mutual Street (88 Queen Phase 2A) for $107 million at a proposed GFA of $210 psf, and 2291 Eglinton Avenue East & 888 Birchmount Road in Scarborough for $105 million.