Toronto Commercial Real Estate - Brokers reports

Page 1

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.


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