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Observer Walt
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From Financial Post:
There's nothing to buy in the Toronto office market.
That's the explanation for the city finishing dead last in investment activity among 12 global markets studied by CB Richard Ellis.
The survey found only $1.6-billion was invested in the Toronto market for the full year 2006, down from $2.3-billion in 2005.
The lower volume of investment in Toronto's office market is a direct reflection of the fact there is an acute shortage of investment office product in the Toronto area," said Blake Hutcheson, Canadian president of CB Richard Ellis.
Internationally, London finished on top with $34.3-billion in investments last year, up from $27.3-billion. New York was secon at $27.2-billion, up from $20.6 billion in 2005. Toronto was the only Canadian city large enough to be considered for the survey.
There's nothing to buy in the Toronto office market.
That's the explanation for the city finishing dead last in investment activity among 12 global markets studied by CB Richard Ellis.
The survey found only $1.6-billion was invested in the Toronto market for the full year 2006, down from $2.3-billion in 2005.
The lower volume of investment in Toronto's office market is a direct reflection of the fact there is an acute shortage of investment office product in the Toronto area," said Blake Hutcheson, Canadian president of CB Richard Ellis.
Internationally, London finished on top with $34.3-billion in investments last year, up from $27.3-billion. New York was secon at $27.2-billion, up from $20.6 billion in 2005. Toronto was the only Canadian city large enough to be considered for the survey.