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The total volume in square feet of retail properties sold in the GTA since 2006 has fluctuated from lows of 2.3 million square feet in 2009 and in 2012 to a high of 7.1 million square feet in 2011.
The pattern is similar in retail properties greater than 50,000 square feet with lows of 960,000 square feet and 983,000 in 2008 and 2009, respectively, to a high of 4.9 million square feet also in 2011.
The financial crisis of 2008 had a clear impact in the 2007-09 period with the lowest volumes both in square footage and dollar sales. 2015 witnessed a sharp correction following two very strong years in both square footage and dollar sales. (See table and chart below.)
The net purchase in the period of 2010-2016 YTD of the larger retail purchasers is tabulated below and represents only the GTA and is obviously not representative of the Canadian scope. The scope of properties will include other asset classes.
This article is an excerpt from Petrus Commercial Realty Corp. newsletter the Real Estate Report (GTA) Volume 23.02 – Retail.
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