The Canadian commercial real estate sector (CRE) grew 48% in 2010, with C$18.9 billion in investment, according to data released by CB Richard Ellis Ltd. The investment total is the closest that Canadian CRE has approached to its pre-recession peak of C$19.8 billion in 2005.
The number of transactions for 2010 reached a total of 4,589 in 2010, up from 3,872 in 2009. With the exception of London, Ontario, all regional markets saw an increase in volume in 2010. Toronto dominated the industry by finishing 2010 with C$7.4 billion in trades, up from C$3.8 billion in 2009.
‘It's almost as if the recession was 20 years ago, instead of just two,’ says John O'Bryan, vice chairman of CB Richard Ellis, said in a release. ‘It was really a coast-to-coast recovery – something we haven't seen before. Virtually every asset class in the country showed strong performance, although operating businesses, such as hotels, manufacturing plants, and retirement homes were somewhat slower to recover.’
SOURCE: CB Richard Ellis Ltd.
