The commercial real estate market in London and area ended 2009 with a bang.
After a dismal 18 consecutive months, the industrial market has taken off with sales and leasing topping $1 million in the last three months, said Peter Whatmore, senior vice-president of CB Richard Ellis, a commercial real estate firm.
"It is very exciting news," said Whatmore. "It has been such a challenging time but I feel confident we are in a recovery mode. It is slowly and steadily moving forward.
"This is a lot better than plant closings."
New businesses have been moving to the ING building on Roxborough Rd., which has leased about 100,000 square feet -- half of its available space. There are also new tenants on Highbury Ave., leasing more than 100,000 square feet of industrial space.
