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Commercial real estate heats up

The National Post writes on Canada's "staggering growth" in commercial real estate, a market that grew 48% in 2010. Led by Toronto, which saw growth of 93% and 1,156 total transactions for the year, the surge is attributed to a stronger economy and growing investor confidence.

"It's almost as if the recession was 20 years ago, instead of just two," John O'Bryan, vice-chariman of CB Richard Ellis, said in a release. "It was really a coast-to-coast recovery � something we haven't seen before."

"This level of activity was not unexpected," Mr. O'Bryan said. "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."

"On a regional basis, Toronto saw the value of its transactions double from $3.8-billion in 2009 to $7.4-billion last year.  In Vancouver, 1,263 commercial real estate transactions took place during 2010, valued at over $2.9-billion, which was relatively unchanged from 2009."

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original source National Post
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