COLLIERS TORONTO ONE, OFFICE STATISTICS - Q4 2009 Greater Toronto Area Office Concentration
Class
Surveyed
Rate
Q4 2009
12 Months
Avg. Asking Net Rental Rates 5
CENTRAL AREA TOTAL:
AAA A B C All
11 139 322 259 731
12,718,015 28,689,977 33,721,305 12,813,900 87,943,197
1,079,342 1,701,405 1,196,178 549,793 4,526,718
8.5% 5.9% 3.5% 4.3% 5.1%
2,283,240 2,975,226 2,714,119 889,935 8,862,520
7.7% 27.2% 22.1% 13.9% 19.3%
18.0% 10.4% 8.0% 6.9% 10.1%
16.8% 10.2% 5.4% 6.3% 8.6%
(343,131) 1,106,036 (581,703) (58,412) 122,791
(337,499) 1,273,115 (583,624) (90,344) 261,647
$29.16 $22.31 $17.45 $15.09 $20.12
$60.25 $41.92 $34.68 $28.39 $39.33
2,053,363
2,310,000
Financial Core
AAA A B C All
11 26 37 35 109
12,718,015 11,598,752 5,645,411 3,653,565 33,615,743
1,079,342 727,911 345,145 152,509 2,304,907
8.5% 6.3% 6.1% 4.2% 6.9%
2,283,240 1,348,116 650,112 242,694 4,524,163
7.7% 17.1% 20.8% 20.3% 13.0%
18.0% 11.6% 11.5% 6.6% 13.5%
16.8% 12.7% 7.8% 5.5% 12.5%
(343,131) 1,006,337 (35,119) 2,485 630,572
(337,499) 1,106,175 (149,703) (63,167) 555,805
$29.16 $28.22 $19.95 $16.78 $25.28
$60.25 $51.80 $40.68 $35.30 $50.17
2,022,003
880,000
Downtown
AAA A B C All
11 119 241 194 565
12,718,015 23,680,061 24,149,088 10,050,063 70,597,227
1,079,342 1,375,897 905,239 351,686 3,712,164
8.5% 5.8% 3.7% 3.5% 5.3%
2,283,240 2,416,821 2,150,818 578,271 7,429,150
7.7% 27.4% 20.7% 11.4% 18.1%
18.0% 10.2% 8.9% 5.8% 10.5%
16.8% 10.4% 5.0% 5.4% 8.8%
(343,131) 1,062,212 (233,085) (29,711) 456,285
(337,499) 1,122,092 (275,599) (119,789) 389,205
$29.16 $24.42 $18.10 $15.98 $21.38
$60.25 $43.69 $34.98 $27.92 $40.72
2,053,363
1,430,000
A B C All
20 81 65 166
5,009,916 9,572,217 2,763,837 17,345,970
325,508 290,939 198,107 814,554
6.5% 3.0% 7.2% 4.7%
558,405 563,301 311,663 1,433,370
26.5% 27.2% 18.7% 25.1%
11.1% 5.9% 11.3% 8.3%
9.3% 6.4% 9.4% 7.7%
43,825 (348,619) (28,701) (333,495)
151,022 (308,025) 29,445 (127,558)
$18.37 $15.15 $13.28 $16.23
$38.63 $33.61 $29.34 $35.05
0
0
A B C All
391 567 386 1344
45,021,755 38,392,372 13,129,681 96,543,808
3,468,210 2,457,489 828,494 6,754,193
7.7% 6.4% 6.3% 7.0%
5,285,606 3,845,920 1,179,207 10,310,733
25.1% 17.2% 12.1% 20.7%
11.7% 10.0% 9.0% 10.7%
10.0% 7.7% 7.7% 8.7%
626 205,898 (94,460) 112,065
420,448 (834,840) (483,528) (897,920)
$15.53 $12.76 $12.14 $14.04
$28.37 $24.66 $20.67 $25.98
189,513
610,499
A B C
112 216 132
14,778,342 16,119,305 4,263,640
1,389,098 1,254,075 174,514
9.4% 7.8% 4.1%
1,890,240 1,979,939 300,358
16.8% 16.3% 26.4%
12.8% 12.3% 7.0%
12.0% 9.6% 8.9%
(134,755) 85,158 3,957
(154,916) (134,952) (87,392)
$14.15 $11.67 $9.21
$26.25 $24.20 $18.10
All
460
35,161,287
2,817,687
8.0%
4,170,536
17.3%
11.9%
10.5%
(45,641)
(377,260)
$12.60
$24.71
December-09 Buildings
Midtown
SUBURBS TOTAL:
GTA East
GTA North
GTA West
Office Inventory 1
Vacant Space
Vacancy Rate 2
Available Space
Q4 2009 Sublet Availability 3 Availability Rate 4
Q4 2008 Availability
Net Absorption
Net Absorption
Avg. Asking Gross
Net New Supply
Currently Under
Rental Rates
Q4 2009
Construction
A
59
7,888,467
452,526
5.7%
959,872
33.9%
12.2%
8.9%
53,566
45,622
$19.20
$37.24
B
85
6,128,912
154,381
2.5%
262,373
21.1%
4.3%
4.5%
15,181
(48,573)
$14.34
$29.99
C
54
1,409,798
32,944
2.3%
52,144
0.0%
3.7%
2.4%
10,420
(21,897)
$13.95
$22.61
All
198
15,427,177
639,851
4.1%
1,274,389
29.9%
8.3%
6.5%
79,167
(24,848)
$17.73
$34.88
A
220
22,354,946
1,626,585
7.3%
2,435,495
28.0%
10.9%
8.9%
81,816
529,742
$15.47
$27.29
B
266
16,144,155
1,049,033
6.5%
1,603,608
17.8%
9.9%
7.0%
105,559
(651,316)
$14.03
$24.30
C
200
7,456,243
621,036
8.3%
826,704
7.7%
11.1%
8.1%
(108,836)
(374,238)
$12.89
$21.33
All
686
45,955,344
3,296,655
7.2%
4,865,807
21.2%
10.6%
8.1%
78,539
(495,812)
$14.51
$25.18
GREATER
AAA
11
12,718,015
1,079,342
8.5%
7.7%
18.0%
16.8%
(343,131)
(337,499)
$29.16
$60.25
TORONTO
A
530
73,711,732
5,169,615
7.0%
8,260,833
2,283,240
25.9%
11.2%
10.1%
1,106,662
1,693,563
$17.27
$31.84
AREA
B
889
72,113,677
3,653,667
5.1%
6,560,039
19.2%
9.1%
6.6%
(375,805)
(1,418,464)
$14.56
$28.49
TOTAL:
C
645
25,943,581
1,378,287
5.3%
2,069,141
12.9%
8.0%
7.0%
(152,871)
(573,872)
$13.23
$23.52
All
2,075
184,487,005
11,280,911
6.1%
19,173,253
20.0%
10.4%
8.7%
234,855
(636,273)
$16.20
$30.72
0
0
0
63,515
189,513
546,984
2,242,876
2,920,499
SURVEY RESULTS PRESENTED IN THIS REPORT HAVE BEEN CONDENSED FOR EASY REFERENCE. NOTES: 1
Office Inventory:
For the purpose of this report, buildings with less than 10,000 sf of office space and buildings owned and occupied by the government have not been included in the office inventory.
2
Vacancy Rate:
The Vacancy Rate is the amount of vacant space divided by the existing building inventory base. Vacant space is available and physically unoccupied, and it includes both head lease and sublease space.
3
Sublet Availability:
This ratio represents the share of available sublease space of the total available space.
4
Availability Rate:
The Availability Rate is the amount of available space divided by the building inventory base. Available space is space that is available for lease and may or may not be vacant.
5
Average Rental Rates:
Average rental rates are calculated off available spaces which also quote rental figures.
Information contained herein has been obtained from the owners or from other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice.