Office Market Dashboards Colliers International | Greater Toronto Area
Q4
2009
GREATER TORONTO AREA
Office Market Dashboards 1.
GTA Regional
21. Don Mills – Eglinton
2.
Downtown
22. Hwy 404 & Hwy 407
3.
Financial Core
23. Woodbine-Steeles
4.
Downtown North
24. Markham
5.
Downtown East
25. Pickering-Oshawa
6.
Downtown South
7.
Downtown West
8.
Midtown
9.
Yonge-Bloor
10.
Yonge-St.Clair
11.
Yonge-Eglinton
12.
GTA North
13.
Dufferin-Finch
14.
North Yonge Corridor
15.
Richmond Hill
16 16.
V Vaughan h
17.
Yorkdale
18.
GTA East
19 19.
Consumer Road
20.
Duncan Mills
26. Scarborough Town Centre 27. Toronto East 28. GTA West 29. Airport Corporate Centre 30. Airport East 31. Airport West 32. Hwy 427 /Bloor-Islington 33. Brampton 34. Burlington 35. Cooksville 36. Hurontario & Hwy 401 37. Mississauga City Centre 38. Meadowvale 39. Oakville 40. Sheridan
Q4 | 2009
COLLIERS INTERNATIONAL
GTA OFFICE MARKET AND SUBMARKET BOUNDARIES
LEGEND
Highway 9 9 Highway 999 Highway Highway Highway
Highway Main Road GO Transit
H7 H7 CO CO
KH KH YD YD
TW TW
YS YS
YB YB
College Street College College Street Street Street College College College Street Street
LAKE ONTARIO
Dundas Street Dundas Street West Street West West Dundas Street West Dundas Dundas Street West
DN DN
Street Sherbourne Sherbourne Street Sherbourne Street Street Sherbourne Street Sherbourne
Bloor Bloor Bloor Street Street Street Street West West West West Bloor Bloor Bloor Street Street West West
Parliament Parliament ParliamentStreet Street Street Street Parliament Parliament Parliament Street Street
St. St. St. Clair Clair Clair Avenue Avenue Avenue West West West Clair Avenue West St. St. St. Clair Avenue West
CV CV
W W W W EW EEE QE Q Q Q Q Q
OV OV
aaayyyyyy W W Waaa W W ttthththhhhW t e e e bbbe iizizzaaaabbb EE EE Ellllillizizz E eeeeennnnn e e e e e Q Q Quuuuuu Q Q Q
TE TE
Gardiner Gardiner Gardiner Expressway Expressway Expressway Expressway Gardiner Gardiner Gardiner Expressway
D D D Do D D V V on oo oo al al nV nn nn le le Val V V alle al al P P leyyyyyy P le le rk rk Pa P P w w ark aa aa ay ay rkw rk rk way w w ay ay ay
YS YS Mount Mount Mount Pleasant Pleasant Pleasant Road Road Road Pleasant Road Mount Mount Mount Pleasant Road
HB HB
ST ST
DO DO
Avenue Ossington Ossington Avenue Ossington Avenue Avenue Ossington Ossington Avenue
BU BU
YE YE
Street Street Dufferin Dufferin Dufferin Street Street Street Dufferin Street Dufferin Dufferin
66 aayyyy666 w w w waaa w igigghhhhhw H H H Hiigig H
00077777 yyy44444 waaaaayyy ww w w w h h h h h g g g Hiiigiigg HHH H
DM DM
Prepared By: Colliers International Research Department
Highway Highway Highway 401 401 401 401 Highway Highway Highway 401
CR CR
Spadina Spadina Spadina Road Road Road
MC MC 333333 44400000 yyy44 a a a a a w www ggghhhhhw Hiiigiig HHH H
NY NY
Yonge Yonge YongeStreet Street Street Street Yonge Yonge Yonge Street Street
AE AE
TW TW
SW SW
PO PO
407 407 407 Highway Highway Highway 407 407 407 Highway Highway Highway
Avenue AvenueRoad Road Road Avenue Road Avenue Avenue Road
Highw Highw Highway ay ay ay427 427 427 427 Highw Highw Highw ay ay 427 427
111000000 yyy444444111 waaaaaayyy w w w w hhhw Hiiiiggiigggghhh H H H H H
AC AC
HH HH MV MV
WS WS DF DF
AW AW
11 000000111 yyy44444 waaaaayyy www w h h h h h g g g ii HHHiigigg
MA MA
H H H ig ig hw hw H H Hig ig ig ighw ay ay hw hw hway 48 48 ay ay ay 48 48 48 48
H H Hig ig ig igh hhh hw ig ig w wa w aaa ayyy 44400 w 440000 000 0
WB WB
BR BR
Submarket Boundary
Hi Hi High ghwa wayyyy 40 gh Hi Hi Hi wa gh 40444 wa 40 4 40
RH RH
TE TE
Queen Street Queen Street West Street West Queen West Street West Queen Queen Street West
00
10 10 kilometers kilometers
20 20
DW DW
King Street King Street West Street West West King Street West King King Street West
FC FC
DE DE
DS DS
Gardine Gar dinerrrrr Exp dine Gar dine Gar Gar Express Exp dine Exp way way way ress ressway Exp way way
Our Knowledge is your Property 速 Colliers Macaulay Nicolls (Ontario) Inc., Brokerage and certain of its subsidiaries, is an independently owned and operated business and a member firm of Colliers International Property Consultants, an affiliation of independent companies with over 240 offices throughout more than 50 countries worldwide. This document has been prepared by Colliers International for advertising and general information only. Colliers International does not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.
Office Region Dashboard: Greater Toronto Area REGIONAL INDICATORS
Q4-09
MAP OF REGION
182,244,129
184,487,005
Net Absorption
(588,231)
234,855
Vacancy Rate
5.9%
6.1%
40 40 40 40 404 40 44 4 44
Office Inventory*
Average Additional Rent
$15.81
$14.53
407 407 407 407 407
427 427 427 427 427
$16.20
00 4 4110 444
$17.70
666 6 yy6 y6 66 66 ayyayya ayy6 ayya a a w w a a a h h w w w hw hw hh hig hw hw ig h h igig ig ig ig ig H ig ig ig HH H H H H H H H H
Average Asking Net Rent
111 1 000 01 4440
Highway Highway Highway 48 48 Highwayyy48 Highwa Highwa 48 48 48
Trend
40 44 00 00 00 40 40 40 0000 0
Q4 2009
Brock Street Brock Brock Street Street Brock Brock Brock Street
Highway Highway Highway 999 Highway Highway Highway
Q3 2009
401 401 401 401 401 401
33333 444444000 W W W W W EEEW Q Q Q QEEE Q Q
yyy W Waaa W W 0777 00 00 hhhW th th th 4440 bbbeeeeeettt zzzaaaaaabbb EEElilili n n n eee eeeeeeeee Q Q Quuuuuu Q Q Q
Highway High High way 555 High High way way way
LAKE ONTARIO 50 50
25 25
00
kilometers kilometers
*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. There are 2075 office buildings surveyed in the GTA office region.
AVAILABLE SPACE OPTIONS Number of units on the regional market by size brackets
AVAILABLE SUPPLY SPLIT Sublease
Direct
Sublease as % of Total Available
20,000,000
Square Feet
18,000,000
Total Available Office Space: 15285487 sf
45% 40%
14,000,000
35%
Available Sublease 20%
12,000,000 10,000,000
20 - 50k sf
50k - 100k sf
100k sf +
1588
651
347
289
30
25
# of units**
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q4 2009 TOP Office Lease Transactions by Size
25%
8,000,000
Address
Suite
Sq. Ft.
Landlord
Tenant CI Financial
20% 15%
80%
10%
2,000,000
5%
0
0%
Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Avail. Office Space
Not Avail. Office Space
0
192,000
1490 Denison Street
0
46,000
Neamsby Investments Inc
N/A
43,000
Brookfield Management
Baker & Mckenzie
181 Bay Street
$70
80,000,000
$60
70,000,000
Date
Address
Price
10/28/2009
151 Front Street West
$180,000,000
12/15/2009
77 Bloor Street West
$96,500,000
Cadillac Fairview
12/15/2009
60 Bloor Street West
$67,575,000
Cadillac Fairview
60,000,000
$50
Sq. Ft.
40,000,000
$23.52 30,000,000
$31.84
20,000,000
$10
10,000,000
$-
Purchaser
Size
$/PSF
325,772
$553.00
Morguard Investments Limited
370,306
$261.00
Morguard Investments Limited
255,727
$352.00
Northam Allied Properties REIT Realty Advisors
Finance 27%
Data,Publishing, Broadcasting Services 11%
$28.49
$20
Vendor
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
50,000,000 $40 $30
0
TOP Office Sale Transactions by Price
Gross Rent
$60.25
15 York Street
Cadillac Fairview Corporation
Q4 2009
GROSS RENT & AVAILABILITY BY BUILDING CLASS
Gross Rent $/Sq. Ft.
10k - 20k sf
30%
6,000,000 Available Direct
Professional Services 22%
Class AAA
Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Manufacturing & Distribution 17%
18 MONTH TREND Absorption
Asking Net Rent
6.1%
6.2%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
6.0%
20
5.8% 15
$16.20
5.4% 5 5.2% -
Q4 2008
Q1 2009
-5
-10
Q2 2009
Q3 2009
Q4 2009
5.0%
4.8%
4.6%
Vacancy Rate
5.6% 10
Q3 2008
Public Service & Private Sector Services 21%
Others 2%
Vacancy Rate
25
Net Rent $/sf. / Absorption (100,000's)
4k - 10k sf
50%
16,000,000
4,000,000
0 - 4k sf
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
18 York Street
Great West Life
650,000
PricewaterhouseCoopers
Q1 2011
2465 Argentia Road
First Gulf Corporation & Sun Life
250,000
BMO
Q2 2010
15 York Street
Cadillac Fairview
207,000
N/A TBD
Q1 2010
REGIONAL CHARACTERISTICS * The GTA is Canada's largest urban economic region in terms of size in population, economy and office space. * Built on strong foundations that include world-renowned educational and health institutions, a diversity of internationally competitive sectors and clusters, and a highly-skilled, well-educated and growing population. * GTA includes the City of Toronto plus & surrounding regional municipalities, which are comprised of 25 local municipalities of which 11 have populations greater than 100,000 (as of 2008). * Over time Toronto has maintained its position as Canada's financial and industrial center. * Economic strength and dominance of the area is reflected in its concentration of corporate headquarters.
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Our Knowledge is your Property速
COLLIERS INTERNATIONAL
DOWNTOWN MARKET AND SUBMARKET BOUNDARIES Street Street Dupont Street Dupont Street Dupont Street Dupont
LEGEND Road Avenue Avenue Road Avenue Road Road Avenue Avenue Road
Main Road GO Transit
Parliament Parliament Parliament Street Street Parliament Parliament Parliament Street Street Street
Sherbourne Sherbourne Sherbourne Street Street Sherbourne Sherbourne Sherbourne Street Street Street
College College College Street Street Street Street College College College Street ue ue Aven Aven rsity rsity ue ue ue Unive Unive Unive Avenue Aven Aven rsityAven rsity rsity University Unive Unive
Dundas Dundas Dundas Street Street Street West West West Street West Dundas Dundas Dundas Street West
DN DN
Gerrard Gerrard Gerrard Street Street Street East East East
Do Do Do Va Va lley lley Don Do Do n Va nn nn Pa Pa Valley Va Va rkw rkw lleyPa lley lley ay ay Parkw Pa Pa rkway rkw rkw ay ay ay
Submarket Boundary Jarvis Jarvis Jarvis Street Street Jarvis Jarvis Jarvis Street Street Street
Church Church Church Street Street Church Church Church Street Street Street
Yonge Yonge Yonge Street Street Yonge Yonge Yonge Street Street Street
Street Bay Bay Street Bay Street Street BayStreet Bay
Spadina Spadina Spadina Avenue Avenue Spadina Spadina Spadina Avenue Avenue Avenue
Dufferin Dufferin Dufferin Street Street Dufferin Dufferin Dufferin Street Street Street
Ossington Ossington Ossington Avenue Avenue Ossington Ossington Ossington Avenue Avenue Avenue
Bathurst Bathurst Bathurst Street Street Bathurst Bathurst Bathurst Street Street Street
Bloor Bloor Bloor Street Street Street West West West Street West Bloor Bloor Bloor Street West
Highway
Prepared By: Colliers International Research Department
Queen Queen West Street West Queen Street West Street Queen Street West Queen Street West Queen West Street Adelaide Street Adelaide West Street West Adelaide West Street West Street Adelaide Adelaide West Street Adelaide
FC FC
DW DW
DE DE
Front Front Front Street Street Street West West West Street West Front Front Front Street West ee ee eetttttt Str Str Stree rk rk rkStr ee ee Yo Yo York Str Str rk rk Yo Yo Yo
DS DS
Gardiner Gardiner Expressway Expressway Expressway Gardiner Expressway Gardiner Gardiner Expressway st st ast aaa st Ea E st E E uaaayyy E uu uu Qu Q Q 's Q 's Q n's nnn 's en eee 's ueeee uu uu Qu Q Q Q Q
Lake Lake Lake Shore Shore Shore Boulevard Boulevard Boulevard West West West
00
0.5 0.5 kilometers kilometers
11
LAKE ONTARIO
Our Knowledge is your Property 速 Colliers Macaulay Nicolls (Ontario) Inc., Brokerage and certain of its subsidiaries, is an independently owned and operated business and a member firm of Colliers International Property Consultants, an affiliation of independent companies with over 240 offices throughout more than 50 countries worldwide. This document has been prepared by Colliers International for advertising and general information only. Colliers International does not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.
Office Market Dashboard: Downtown
Q4-09 MAP OF MARKET
456,285
DN DN
College College College Street Street Street CollegeStreet College College Street Street
Avenue Avenue Avenue University University UniversityAvenue Avenue Avenue University University University
5.1%
5.3%
Average Asking Net Rent
$24.25
$21.38
Average Additional Rent
$21.86
Dufferin Dufferin DufferinStreet Street Street Dufferin Dufferin Dufferin Street
Street Street Street West West West West Dundas Dundas Street Dundas Street Street West West
Vacancy Rate
Parliament Parliament ParliamentStreet Street Street Street Parliament Parliament Parliament Street Street
84,760
Street Street Street Jarvis Jarvis JarvisStreet Jarvis Jarvis Street Jarvis Street
Net Absorption
Sherbourne Sherbourne Sherbourne Street Street Sherbourne Sherbourne SherbourneStreet Street Street Street
70,597,227
Street Bay Bay Street BayStreet Street Street Bay Bay
68,543,864
Yonge Yonge YongeStreet Street Street Yonge Street
Office Inventory*
Trend
SpadinaAvenue Avenue Spadina Avenue Spadina Avenue Avenue Avenue Spadina Spadina Spadina
Q4 2009
Bathurst Street Bathurst Street BathurstStreet Street Street Street Bathurst Bathurst Bathurst
Q3 2009
Gerrard Gerrard GerrardStreet Street Street StreetWest West West West Gerrard Gerrard Gerrard Street Street West West
Gerrard Street East Gerrard Gerrard Street Street East East Gerrard Gerrard GerrardStreet Street StreetEast East East StreetEast East Dundas Dundas DundasStreet Street East Street Street East East
Queen Queen Street Queen Street Street West West West West West West
Queen Queen QueenStreet Street Street StreetEast East East East Queen Queen Queen Street Street East East
KingStreet King Street West Street King West West Street West King King Street West
FC FC
DW DW
$19.34
DonValle Don Don Valley Valley Valley Don Don Valle Parkw Parkw Parkw Valle Park Park Park yy Parkw ay ay ay Parkw Parkw way way way ay ay ay
MARKET INDICATORS
DE DE
West West West Street West Street West Street Front Street Front Street Front Front Front
ssway ssway Expre Expre Expre ssway ssway er er er Expressway Expre Gardin Gardin Gardin er Expre er Gardiner Gardin Gardin
*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. There are 564 office buildings surveyed in this market.
DS DS Lake Shore Lake Lake Shore Boulev Shore Lake Lake Shore Boulevard Boulev Shore Boulev ard West ard Boulev West ard West West ard West
AVAILABLE SUPPLY SPLIT
00
Sublease
Direct
8,000,000
50%
7,000,000
45%
11
LAKE ONTAR IO
AVAILABLE SPACE OPTIONS Number of units on the market by size brackets
40%
6,000,000 Square Feet
0.5 0.5 kilometers kilometers
Sublease as % of Total Available
35%
5,000,000
st st Ea Ea st st st ay ay ay East Ea Ea ay Ea Qu ay Qu 's 's 's Quay Qu Qu 'sQu 's een een Qu Qu Qu een's een een Queen Qu Qu
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
504
235
106
115
2
1
30%
4,000,000
25% 20%
3,000,000
15%
2,000,000
# of units**
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q4 2009 TOP Office Lease Transactions by Size
10%
1,000,000
5%
0
0%
Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Address
Sq. Ft.
Landlord
Tenant
0
192,000
Cadillac Fairview Corporation
CI Financial
181 Bay Street
Suite 2100
43,000
Brookfield Management
Baker & Mckenzie
150 York Street
Suite 1100
19,350
Oxford Properties Group Inc.
Yamana Gold Inc.
Q4 2009
15 York Street
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Not Avail. Office Space
Gross Rent
$70
Suite
30,000,000
TOP Office Sale Transactions by Price $60
25,000,000
$60.25
Date
$43.69
$50
10/28/2009
$40
$27.92 $30
15,000,000
$34.98
Sq. Ft.
Gross Rent $/Sq. Ft.
20,000,000
10,000,000
12/21/2009 12/15/2009
Address
Price
151 Front Street West 86 - 94 Berkeley Street & 49 Ontario St 54 Berkeley Street
$180,000,000 $16,800,000 $3,820,000
Vendor
Purchaser
Northam Realty Advisors Lasalle Investment Management Berkeley Consulting Limited
Allied Properties REIT Whiterock REIT and Return on Innovation Capital King Berkeley
Size
$/PSF
325,772
$553
87,105
$193
0
$0
Holdings Inc.
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
$20 5,000,000
$10
Finance 34%
-
$-
Class AAA Class A Class B Class C Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Data,Publishing, Broadcasting Services 12%
18 MONTH TREND Absorption
Asking Net Rent
Vacancy Rate
Manufacturing & Distribution 6%
10.0%
29
Professional Services 24%
9.0%
Others 3%
Public Service & Private Sector Services 21%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
8.0% 21
$21.38
7.0%
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
6.0%
18 York Street
Great West Life
650,000
PricewaterhouseCoopers
Q1 2011
15 York Street
Cadillac Fairview
207,000
N/A TBD
Q1 2010
17
5.3%
13
5.0% 9
4.0%
5
3.0%
1 -3
2.0%
Q3 2008
Q4 2008
Q1 2009
-7
Q2 2009
Q3 2009
Q4 2009
1.0% 0.0%
Vacancy Rate
Net Rent $/sf. / Absorption (100,000's)
25
MARKET CHARACTERISTICS * Largest office market in the GTA with the lowest vacancy rate * GTA top annual rental rates are achieved in buildings located in this market * Market is in high demand by users looking for a prestige urban location and modern, state-ofthe-art architecture * Limited parking, but great access to public transit and the PATH system, Toronto's underground walkway * Proximity to multiple amenities and services add convenience for employees and customers * Submarket will benefit from the development of the Metrolinx transportation plan and
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Financial Core SUBMARKET INDICATORS
Q4-09
MAP OF SUBMARKET
Q3 2009
Q4 2009
Trend
Office Inventory*
31,593,740
33,615,743
Net Absorption
4,321
630,572
DN DN
AVAILABLE SPACE OPTIONS
Queen Queen West West Street Street West Queen Queen Street Queen
West West Street Street Richmond Richmond Richmond West West West Street Street StreetWest Richmond Richmond Richmond Street
$24.90
Victoria Victoria Victoria Street Street Victoria Victoria VictoriaStreet Street Street Street
$26.52
FC FC KingStreet King King Street West Street Street West King West King King Street
Yonge Street Yonge Street Yonge YongeStreet Yonge Street Street Street
Average Additional Rent
DW DW
Street BayStreet Bay Street Street Bay Street Street Bay Bay Bay
6.9% $25.28
nue nue nue Ave Ave Avenue nue nue sity sity sityAve Ave Ave iver iver iversity sity sity Un Un Univer iver iver Un Un Un
6.3% $27.83
Street Simcoe Simcoe Street Simcoe Street Street Simcoe SimcoeStreet
Vacancy Rate Average Asking Net Rent
Street Street StreetWest Adelaide Adelaide Adelaide West West Street Street Adelaide Adelaide AdelaideStreet
Number of units on the submarket by size brackets
# of units**
0 - 4k sf
170
4k - 10k sf
124
10k - 20k sf
74
20 - 50k sf
81
50k - 100k sf
1
100k sf +
0
DE DE
*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. There are 109 office buildings surveyed in this submarket. West West Front Front Street Front Street West West West Street Street Street West Front Front Front Street
AVAILABLE SUPPLY SPLIT
Square Feet
Sublease
York Street York York Street Street York Street YorkStreet
Direct
Sublease as % of Total Available
5,000,000
20%
4,500,000
18%
4,000,000
16%
3,500,000
14%
3,000,000
12%
2,500,000
10%
DS DS 0 0 0
y yyy aay wa w w sw sss w w ss sss res re re pre re xxppp Ex EE errrrr E eee ine in in in in rd rd rd ard aaa rdin G G Ga G
0.1 0.1 0.1 0.2 0.2 0.2 kilometers kilometers kilometers
RECENT TRANSACTIONS Q4 2009
2,000,000
8%
1,500,000
6%
1,000,000
4%
500,000
2%
TOP Office Lease Transactions by Size Address
Suite
Sq. Ft.
Landlord
Tenant
15 York Street
Entire space
192,000
Cadillac Fairview Corporation
CI Financial
181 Bay Street
20, 21
43,000
Brookfield Management
Baker & Mckenzie
19,350
Oxford Properties Group Inc.
Yamana Gold Inc.
150 York Street
0 Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
10/28/2009
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Not Avail. Office Space
1100
TOP Office Sale Transactions by Price Date
0%
Q3 2008
Address 151 Front Street West
Price
Vendor
Purchaser
Size
$/PSF
$180,000,000
Northam Realty Advisors
Allied Properties REIT
325,772
$553
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
Gross Rent
Finance 51%
14,000,000 $70
** Counting smallest divisible units in existing buildings and buildings under construction.
$60.25 12,000,000
$60
$51.80 10,000,000
$40.68 $35.30
$40
8,000,000 6,000,000
$30 $20
4,000,000
$10
2,000,000
$-
Sq. Ft.
Gross Rent $/Sq. Ft.
$50
Manufacturing & Distribution 5% Data,Publishing, Broadcasting Services 5%
-
Class AAA Class A Class B Class C Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND Asking Net Rent
Vacancy Rate
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
18 York Street
Great West Life
650,000
PricewaterhouseCoopers
Q1 2011
15 York Street
Cadillac Fairview
207,000
N/A TBD
Q1 2010
8.0%
6.9%
7.0% 6.0%
SUBMARKET CHARACTERISTICS 5.0%
$25.28
4.0% 3.0% 2.0% 1.0%
Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Public Service & Others Private Sector 1% Services 10%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Absorption
64 60 56 52 48 44 40 36 32 28 24 20 16 12 8 4 -4 -8
Professional Services 28%
* Most dense office submarket in the GTA with one of the lowest vacancy rates * GTA top annual rental rates are achieved in buildings located in this market * Majority of tenants occupy 4,000 sf or less * Prestige urban location and modern, state-of-the-art architecture * Limited parking, but great access to public transit and the PATH system, Toronto's underground walkway * Proximity to multiple amenities and services add convenience for employees and customers * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
0.0%
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Downtown North SUBMARKET INDICATORS
Q4-09
MAP OF SUBMARKET
Office Inventory*
14,760,296
14,760,296
Net Absorption
72,162
(167,756)
Vacancy Rate
2.3%
2.3%
Average Asking Net Rent
$18.30
$15.94
t aa asssssttt aa Ea ttEEE eeeettt trtr tree trtr Str SSS rrS oo oo orr lo loo BB BB Blo B
YB YB
Trend
eee e nnnu uu ue ve ve ve venn AAve w w AA ie ie ie iew yv yv ayv yv yvie B B B B Baayv
Q4 2009
Queen's Queen's Queen'sPark Park Park ParkCrescent Crescent Crescent CrescentEast East East East Queen's Queen's Queen's Park Park Crescent Crescent East East
Q3 2009
Harbord Harbord Street Harbord Street Street
TE TE
East East Street Street East Wellesley WellesleyStreet East Wellesley Street East Street Wellesley Wellesley
College Street College Street Street College Street College College Street
Don DonValley Valley Parkw Valley Valley Parkway Parkw Valley Valley ay ay Parkw Parkw ay ay
DN DN Gerrard Street Gerrard Gerrard Street StreetWest West West Street Gerrard Gerrard Gerrard West Street West
$18.65 Bathurst BathurstStreet Street Street Bathurst Street Bathurst Bathurst Street
1,000,000
85%
900,000
75%
800,000
65%
Square Feet
700,000
0.5 0.5 0.5
111
AVAILABLE SPACE OPTIONS Number of units on the submarket by size brackets 0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
66
12
12
11
0
0
45%
500,000
# of units** 35%
400,000
25%
300,000 200,000
15%
100,000
5%
0
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q4 2009 TOP Office Lease Transactions by Size Address
Suite
Sq. Ft.
Landlord
Tenant
481 University Ave
Suite 701
7,165
Crown Realty
0
22 College Street
Suite 501
5,575
Canbra Realty
0
220 Yonge Street
Suite 211
4,794
Cadillac Fairview
0
-5%
Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Not Avail. Office Space
Gross Rent
$37
TOP Office Sale Transactions by Price 7,000,000
$34.94 $36.60
Date
Address
10/27/2009
314 Jarvis Street
6,000,000
$35
5,000,000
$33
4,000,000
$31.32
Price
Vendor
Purchaser
Size
$/PSF
$1,960,000
6142869 Canada Inc.
1666794 Ontario Inc.
9,245
$212
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES Sq. Ft.
$34
Gross Rent $/Sq. Ft.
DE DE
FC FC
kilometers kilometers kilometers kilometers kilometers kilometers
55%
600,000
$36
Street Street Street ChurchStreet Church Church Street Street Church Church Church
000
Street Yonge Yonge Yonge Street Street Street Yonge Yonge YongeStreet
West Street West Street Queen Queen Queen West StreetWest QueenStreet West Street Queen West Street Queen
Sublease as % of Total Available
Bay Bay Street Street Bay Bay BayStreet
Sublease
Avenue Avenue University University Avenue UniversityAvenue Avenue University University
Direct
Avenue Spadina Spadina Avenue Spadina Avenue Avenue Spadina SpadinaAvenue
AVAILABLE SUPPLY SPLIT
Street Parliament Parliament Street ParliamentStreet Street Parliament Parliament Street
Dundas Street Dundas StreetWest Street West West Dundas Street West Dundas Dundas Street West
Sherbourne Sherbourne SherbourneStreet Street Street
$20.85
Street Street Street JarvisStreet Jarvis Jarvis Street Street
Average Additional Rent
*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. There are 74 office buildings surveyed in this submarket.
Professional Services 15%
$32 3,000,000 $31
Finance 28%
2,000,000 $30 1,000,000
$29
Data,Publishing, Broadcasting Others Services Manufacturing & 2% 3% Distribution 5%
-
$28 Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
15 MONTH TREND
Public Service & Private Sector Services 47%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Absorption
Asking Net Rent
Vacancy Rate
Address
25
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
3.0%
No Construction took place during this period 20
$15.94
2.5%
SUBMARKET CHARACTERISTICS
2.3%
10
2.0%
5 1.5%
-
Q4 2008
Q1 2009
-5
Q2 2009
Q3 2009
Q4 2009 1.0%
-10 0.5%
-15 -20
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
15
* Offering all downtown location advantages but at lower rental prices than in the Financial Core * Great connections to public transit and road system makes this submarket accessible to employees and clients/customers. * Great proximity to an educated and productive labour force * With new residential high-rise development, residential development will increase and expand and diversify labour pool * Incorporates Toronto Discovery District a 2.5 square km research park with a highly concentrated mix of research, bio-medical companies, finance and business support services * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
0.0%
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Downtown East SUBMARKET INDICATORS
MAP OF SUBMARKET
4,058,643
(45,026)
110
Vacancy Rate
5.2%
5.8%
Average Asking Net Rent
$16.72
$16.74
Average Additional Rent
$10.32
Richmond Richmond Richmond Street Street East East Richmond Richmond RichmondStreet Street Street StreetEast East East East Adelaide Adelaide AdelaideStreet Street Street StreetEast East East East Adelaide Adelaide Adelaide Street Street East East
FC FC
Net Absorption
East East East Street Street Street Queen Queen Queen East East Street StreetEast Queen Queen Queen Street
Queen Queen Queen Street Street East East Queen Queen QueenStreet Street Street StreetEast East East East
Street ParliamentStreet Street Parliament Parliament Street Street Parliament Parliament
4,027,283
DN DN
Trend
King King King Street Street StreetEast East Street East King King King Street East Front FrontStreet Street StreetEast East East Front Front Front Front Street Street East East
Jarvis Lower JarvisStreet LowerJarvis Street Street Lower Jarvis Street Lower Lower Street
TE TE
y yy ay aa wa w w rkw rk rk ark aa rk rk Pa P P yP yy yy lley lle lle alle aa lle lle Va V V V V nV nn on oo Do D D D D D
Q4 2009
Street Street Street Church Church ChurchStreet Street Street Church Church Church
Q3 2009
Street Street YongeStreet Yonge Yonge Street Street Yonge Yonge Yonge
Office Inventory*
Q4-09
Avenue Eastern Eastern Eastern Avenue Avenue Eastern Eastern Eastern Avenue
DE DE
st st st st Ea Ea East Ea Ea ard ard ard rd rdEa rd ev ev ev va va va ul ul ule ule ule Bo Bo Boul ee eBo Bo Bo e or ore or or sh shor ke ke kesh ke ke La La Lake La La La
Gardiner Expressway Gardiner Expressway Expressway Gardiner Expressway Gardiner Gardiner Expressway
DS DS
$10.36
ttt st Eas Eas Eas st st Ea Ea ay Ea ay ay ay Quay Qu Qu Qu n's n's 's 's Qu 's een's ee ee een een Queen Qu Qu Qu Qu
*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. There are 108 office buildings surveyed in this submarket.
LAKE ONTARIO
AVAILABLE SUPPLY SPLIT Direct
Sublease
0 0 0
Sublease as % of Total Available
1 1 1
kilom kilometers eters
600,000
50% 45%
500,000 Square Feet
0.5 0.5 0.5
AVAILABLE SPACE OPTIONS
40%
Number of units on the submarket by size brackets
35%
400,000
30%
300,000
25%
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
82
31
6
10
0
1
# of units**
20%
200,000
15% 10%
100,000
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q4 2009
5%
0 Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Not Avail. Office Space
Gross Rent
$35
$30
TOP Office Lease Transactions by Size
0%
Address
Suite
Sq. Ft.
Landlord
Tenant
210 King Street E
Suite 300
16,271
Autodesk
N/A
3 Church Street
Suite LL5
1,720
N/A
N/A
3,000,000
TOP Office Sale Transactions by Price
2,500,000
$31.01
Date
Address
Price
Vendor
Purchaser
Size
$/PSF
12/21/2009
86 - 94 Berkeley Street & 49 Ontario St
$16,800,000
Lasalle Investment Management
Whiterock REIT and Return on Innovation Capital
87,105
$193
$31.28
$25
Gross Rent $/Sq. Ft.
$20 1,500,000
Sq. Ft.
2,000,000
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
$4.27
$15
1,000,000
Data,Publishing, Broadcasting Services 33%
$10 500,000
$5
Finance 8% Professional Services 26%
-
$Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Manufacturing & Distribution 10%
15 MONTH TREND Absorption
Asking Net Rent
Vacancy Rate
19
$16.74
TOP PROJECTS UNDER CONSTRUCTION BY SIZE 6.0%
13 5.0%
11 9
4.0%
7 5
3.0%
3 2.0%
1
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
1.0%
-3 -5
0.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
5.8%
15
Public Service & Private Sector Services 16%
7.0%
17
-1
Others 7%
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
125 Queen's Quay East
Aecon
550,000
TEDCO, Corus
Q1 2010
SUBMARKET CHARACTERISTICS * Includes original 10 blocks of Toronto and historic buildings allow for remarkable office space features (Brick&Beam) * Northern part of submarket well connected to downtown & rest of the GTA through public transportation and Gardiner Expressway & Don Valley Parkway * With new residential high-rise developments (e.g. Corktown, Distillery District), the labour pool will increase, expand and diversify * George Brown College's third main Toronto campus will support growth of up to 4,000 new students per year and energize the new East Bay lakefront development by Fall 2011 * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Downtown South SUBMARKET INDICATORS
Q4-09
MAP OF SUBMARKET Trend
41,520
(24,478)
Vacancy Rate
4.0%
3.8%
Average Asking Net Rent
$22.59
$21.71
Average Additional Rent
$17.14
$17.90
FC FC
ttt as as E E E asttt as as Eas E et et et etE et tre tre S S treet tre tre tttS Stre S on on on ontttS on Fr Fr Fr Fron Fr Fr
Front Street West FrontStreet StreetWest West Front Street West Front Front Street West
Lower Lower Lower Simcoe Simcoe Street Street Lower Lower LowerSimcoe Simcoe Simcoe SimcoeStreet Street Street Street
B Bre B B B remm re re re m m mn nnn neee eerrrrrB Bo B ooo ouuu le uule levvv le le aa vva aa ard rd rd rd rd
DS DS
Gardiner Gardiner Gardiner Expressway Expressway Gardiner Expressway Gardiner Gardiner Expressway Expressway Expressway
*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. There are 14 office buildings surveyed in this submarket.
Street Church Church Street Church Street Street ChurchStreet Church
Net Absorption
DW DW
Yonge Yonge YongeStreet Street Street Yonge Street
2,430,831
Street Bay Bay Bay Street Street Street Street BayStreet Bay Bay
2,430,831
York York Street Street York Street Street York YorkStreet
Office Inventory*
Avenue Avenue Avenue UniversityAvenue University Avenue Avenue University University University
Q4 2009
Avenue Spadina Spadina Avenue Spadina Avenue Avenue SpadinaAvenue Spadina
Q3 2009
ttt ee ee eet Stree eet eet Str Str urStr ur Str ur ur rbour rbo rbo rbo Harbo Ha Ha Ha Ha
st st st East Ea st Ea Ea ay Ea ay ay ay Quay Qu Qu 's Qu 's Qu 's 's een een een's Queen Qu Qu Qu Qu
West QuayWest Queen'sQuay West Queen's Quay Quay West Queen's West Quay Queen's Queen's
AVAILABLE SUPPLY SPLIT Direct
Sublease
Sublease as % of Total Available
00
500,000
0.25 0.25
450,000 50%
0.5 0.5
LAKE ON TARIO
kilometers kilometers
60%
AVAILABLE SPACE OPTIONS
400,000
Number of units on the submarket by size brackets 40%
350,000 Square Feet
300,000
30%
250,000
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
8
12
9
25
0
0
# of units**
20%
RECENT TRANSACTIONS Q4 2009
150,000
10%
100,000 0%
TOP Office Lease Transactions by Size Address
50,000
Suite
Sq. Ft.
Tenant
Landlord
No transactions were recorded during this period.
0
-10% Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
TOP Office Sale Transactions by Price
Q4 2009 Date
GROSS RENT & AVAILABILITY BY BUILDING BUILDING CLASS CLASS Avail. Office Space
Not Avail. Office Space
Address
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period.
Gross Rent
1,200,000
$51.33
$50
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
1,000,000
$40
Data,Publishing, Broadcasting Services 42%
$30
600,000
$20
400,000
$10
200,000
$-
Sq. Ft.
800,000
$34.30
Gross Rent $/Sq. Ft.
4k - 10k sf
** Counting smallest divisible units in existing buildings and buildings which are under construction.
200,000
$60
0 - 4k sf
Manufacturing & Distribution 15%
-
Class A Class B Class C Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Others 2%
Finance 12%
Professional Services 20%
Public Service & Private Sector Services 9%
18 MONTH TREND Absorption
Asking Net Rent
4.5%
$21.71
Address
4.0%
20 3.8% 15
2.5%
10 2.0% 1.5% 1.0%
Q3 2008
Q4 2008
Q1 2009
-5
Q2 2009
Q3 2009
Q4 2009
Sq. Ft.
Anchor Tenant
Est. Com.
3.5% 3.0%
5
Developer
No construction took place during this period.
0.5% 0.0%
SUBMARKET CHARACTERISTICS Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Vacancy Rate
25
* Offering many downtown location advantages but at lower rental prices than in the Financial Core along the city's waters' edge * Good connections to public transit and easy access to Gardiner Expressway & DVP makes this submarket accessible to employees and customers. * Submarket is part of the Waterfront Revitalization project will continue to change the area into a more urban community in the years to come * With new residential high-rise development (e.g. Pier/Quay West), the labour pool will increase, expand and diversify * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Downtown West SUBMARKET INDICATORS
Q4-09
MAP OF SUBMARKET 14,433,344
Net Absorption
6,553
58,759
Vacancy Rate
5.1%
4.7%
Average Asking Net Rent
$19.26
$18.08
Average Additional Rent
$12.19
$13.50
TW TW
Bathurst Street Bathurst BathurstStreet Street Bathurst Street Bathurst Street
14,433,344
Queen Street Queen Street Street Queen West West West Street Queen Queen StreetWest West West
Dufferin Dufferin Dufferin Street Street Dufferin Dufferin DufferinStreet Street Street Street
Office Inventory*
Trend
King KingStreet West West King West Street StreetWest King West West
Richmond Richmond Street Richmond Street West Street Richmond West Richmond West
DN DN
ue ue ue Aven Aven ee Avenu Avenu Avenu ersity ersity ersity rsity rsityAven rsity Univ Univ Univ Unive Unive Unive
Q4 2009
Spadina Spadina Spadina Avenue Avenue Spadina Spadina SpadinaAvenue
Q3 2009
Adelaide AdelaideStreet Street Street West West West Adelaide Street Adelaide Adelaide West Street West
DW DW
FC FC
West West West Street West Street West Street Front Street Front Front Street Front Front Front
sswa sswa yy yy y Expre Expre sswa sswa ssway iner iner Expre Expre Expresswa Gard Gard Gard iner iner iner Expre Gard Gard Gardiner
DS DS
*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. There are 216 office buildings surveyed in this submarket.
Lak Lake Lak Sh eee e Sh Sh ore Sh Shore ore ore Bo oreBo Bo ule ule Bo Boule ulev ulev ulev var var var ard ard ard dddWe We We st We West st st st
AVAILABLE SUPPLY SPLIT
00
Direct
Sublease
West West QuayWest Quay West Quay Queen'sQuay West Queen's Quay Queen's Queen's Queen's
0.5 0.5
L AKE ON TAR IO
11
kilometers kilometers
Sublease as % of Total Available
60%
1,600,000 50%
AVAILABLE SPACE OPTIONS
Square Feet
1,400,000
Number of units on the submarket by size brackets
1,200,000
40%
1,000,000
30%
800,000
20%
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
166
63
13
13
1
0
# of units**
** Counting smallest divisible units in existing buildings and buildings which are under construction.
600,000 10%
400,000 0%
200,000
RECENT TRANSACTIONS Q4 2009 TOP Office Lease Transactions by Size
0
-10%
Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
GROSS RENT & AVAILABILITY BY BUILDING CLASS Not Avail. Office Space
Avail. Office Space
Address
Suite
Sq. Ft.
Landlord
Tenant
425-439 King Street W
Suite 600
14,551
Allied Properties REIT
Transgaming Technologies
590 King Street W
Suite 200
14,000
Sharpe Blackmore Incorporated
277 Wellington Street W
Suite 800
4,400
YAD Investments Limited Redcliff Realty Management Inc Truprop Limited
Q4 2009
Gross Rent
$35
9,000,000 $33.33 8,000,000
$30
TOP Office Sale Transactions by Price
7,000,000
$30.08
Walters Forensic Engineering
Date
Address
Price
Vendor
Purchaser
Size
$/PSF
$25 6,000,000
No transactions were recorded during this period.
5,000,000
$15
4,000,000
Sq. Ft.
Gross Rent $/Sq. Ft.
$24.15 $20
3,000,000
Finance 18%
2,000,000 1,000,000
$-
Class A
Class B
Manufacturing & Others Distribution 2% 9%
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND Absorption
Asking Net Rent
Address
Vacancy Rate
10.0%
23
$18.08
19 17
6.0%
11
5.0%
9
4.7%
7 5
4.0% 3.0%
3 1
Vacancy Rate
13
Sq. Ft.
Anchor Tenant
Est. Com.
SUBMARKET CHARACTERISTICS
8.0% 7.0%
15
Developer
No construction took place during this period.
9.0%
21 Net Rent $/sf. / Absorption (10,000's)
Public Service & Private Sector Services 22%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
25
-1
Professional Services 26%
Data,Publishing, Broadcasting Services 23%
$10
$5
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
* Offering all downtown location advantages but at lower rental prices than in the Financial Core - excellent options for those tenants whose operations do not require a core location * Good connections to public transit (streetcars along King St W and Queen St W) and easy access to Gardiner Expressway makes this submarket accessible to employees and customers. * With new residential high-rise development (e.g. Concord's CityPlace), the labour pool will increase, expand and diversify * Significant amount of former factory buildings have been converted into office buildings hosting information industry, art and design workspaces - aka Brick & Beam office space * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
2.0% Q3 2008
Q4 2008
Q1 2009
-3 -5
Q2 2009
Q3 2009
Q4 2009
1.0% 0.0%
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
COLLIERS INTERNATIONAL
MIDTOWN MARKET AND SUBMARKET BOUNDARIES
LEGEND
401 401 Highway Highway 401 401 Highway 401 Highway Highway
Highway
Lawrence Lawrence Avenue Avenue Avenue West West West Lawrence Avenue West Lawrence Lawrence Avenue West
n Mi nn nn Don Do Do Mills Mi Mi lls Ro lls Road Ro lls Mi Mi ad ad Ro lls Ro ad ad
Le Le Le sli sli Le Le Lesli St St sli sli slie re re ee ee eSt et et St St Stre re re reet et et et
Allen Allen Allen Road Road Road Road Allen Allen Allen Road
Main Road GO Transit Submarket Boundary
Y Y Y on on ge ge Yon Y Y onge on on St St geSt ge ge re re et et Stre St St reet re re et et et
YS YS
Davenport Davenport Davenport Road Road Road Road Davenport Davenport Davenport Road
East East Avenue Avenue East Eglinton Eglinton Avenue East Avenue Eglinton East Avenue Eglinton Eglinton Drive Drive Laird Laird Drive Laird
West West Avenue Avenue West Clair St. Clair Avenue St. Clair West Avenue Clair St. West Avenue St. Clair St.
Mount Mount Mount Pleasant Road Pleasant Road Mount Mount Mount Pleasant Pleasant Pleasant Road Road Road
Bathurst Bathurst Bathurst Street Street Street Street Bathurst Bathurst Bathurst Street Street
Avenue Avenue Avenue Road Road Avenue Avenue Avenue Road Road Road
Eglinton Eglinton Avenue Eglinton Avenue Avenue West West West
Avenue Avenue Avenue Bayview Bayview BayviewAvenue Avenue Avenue
YE YE
Prepared By: Colliers International Research Department
aaayyyyyy w ww ww waaa aaaaaarrrrrrkkkkkk P P P eeeyyyyyyPPP aaallllllellee V VV VVaaa oooooonnnnnn V D D D DDD
Street Street Dupont Dupont Street Dupont
YB YB Bloor Bloor Bloor Street Street Street Street West West West West Bloor Bloor Bloor Street Street West West
0 000 0
3 333 3
1.5 1.5 1.5 1.5 1.5
kilometers kilometers
Our Knowledge is your Property 速 Colliers Macaulay Nicolls (Ontario) Inc., Brokerage and certain of its subsidiaries, is an independently owned and operated business and a member firm of Colliers International Property Consultants, an affiliation of independent companies with over 240 offices throughout more than 50 countries worldwide. This document has been prepared by Colliers International for advertising and general information only. Colliers International does not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.
Office Market Dashboard: GTA Midtown MARKET INDICATORS
MAP OF MARKET Trend
(3,208)
(333,495)
Vacancy Rate
4.5%
4.7%
Average Asking Net Rent
$16.21
$16.23
Average Additional Rent
$18.65
$18.83
Avenue Avenue Road Avenue Road Avenue Road Avenue Road AvenueRoad Road
Net Absorption
AVAILABLE SPACE OPTIONS West Avenue West Avenue Lawrence Lawrence Lawrence West AvenueWest LawrenceAvenue West Avenue Lawrence West Avenue Lawrence
YE YE
Bayvi Bayvi Bayvi ewAven ew ew Aven Aven Bayview Bayv Bayv ue iew Avenue Aven Aven ue ue ue
17,345,970
Yo Yo Yo ng ng Yo Yo Yong ng ng nge St St ee ee eSt ree ree ree Str Str Str ee ee eetttttt
17,345,970
Mount Mount Pleasant Pleasant Road Road Mount Mount MountPleasant Pleasant PleasantRoad Road Road
Q4 2009
Bat Bathurs Bat Bath Bath hurs hurs Bath ttStre Street Stre urst urst Stre et et Stre et et
Q3 2009
Allen Road Allen Allen Road Road Road Allen Allen Allen Road Road
Office Inventory*
Q4-09
West Avenue Eglinton West Avenue Eglinton Eglinton West West West AvenueWest EglintonAvenue Avenue Eglinton Avenue Eglinton
*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. There are 166 office buildings surveyed in this market. St. St. Clair Clair Avenue Avenue St. West West St.Clair St. Clair Avenue Clair Clair AvenueWest Avenue Avenue West West West
Sublease
Direct
Sublease as % of Total Available
50%
1,400,000
45%
Street DupontStreet Dupont Dupont Street Dupont Dupont Street Street
YB YB Bloor Street Bloor Street West Street West West Bloor Street West Bloor Bloor Street West
1,200,000 Square Feet
35%
1,000,000
30%
800,000
25%
600,000
20%
Street Bay Bay Street Bay Street Street BayStreet Bay
Spadina Spadina Spadina Avenue Avenue Spadina Spadina SpadinaAvenue Avenue Avenue Avenue
40%
Church Street Church Church Street ChurchStreet Street Church Street
1,600,000
Christie Christie Street Street Christie Christie ChristieStreet Street Street
Davenport Davenport Davenport Road Road Davenport Davenport DavenportRoad Road Road Road
D Dooo D D D oon nnn nV Vaaa V V V aalllllllllle ee ee eyyyyy P Paa P P P aarrrrrkkkkkww w wa w aa ayyyyy
YS YS
AVAILABLE SUPPLY SPLIT
211
4k - 10k sf
46
10k - 20k sf
40
20 - 50k sf
7
50k - 100k sf
1
100k sf +
0
TOP Office Lease Transactions by Size
15%
Address
10%
2190 Yonge Street
Suite
Sq. Ft.
Landlord
Tenant
4,200
Northam Realty Advisors Limited
2217851 Ontario Inc.
Suite 300
TOP Office Sale Transactions by Price
0%
Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Date
Address
Avail. Office Space
Not Avail. Office Space
Gross Rent
$45
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period
GROSS RENT & AVAILABILITY BY BUILDING BUILDING CLASS CLASS
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES 12,000,000
$40
$33.61
$35
Finance 23%
10,000,000
$38.63
$30
Professional Services 23%
8,000,000
$29.34
$25
6,000,000
$20 $15
Sq. Ft.
Gross Rent $/Sq. Ft.
0 - 4k sf
RECENT TRANSACTIONS Q4 2009
5%
0
# of units**
** Counting smallest divisible units in existing buildings and buildings under construction.
400,000 200,000
Number of units on the market by size brackets
Manufacturing & Distribution 9%
4,000,000
$10 2,000,000 $5 $-
Data,Publishing, Broadcasting Services 14%
Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
15 MONTH TREND
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Absorption
Asking Net Rent
9.0%
$16.23
10 2 Q4 2008
Q1 2009
-14 -18 -22 -26 -30 -34
Q2 2009
Q3 2009
Anchor Tenant
Est. Com.
MARKET CHARACTERISTICS
6.0%
-10
Sq. Ft.
No construction occurred during this period
7.0%
6
Developer
8.0%
Q4 2009
5.0%
4.7%
4.0% 3.0% 2.0% 1.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
14
-6
Address
Vacancy Rate
18
-2
Public Service & Private Sector Services 29%
Others 2%
* Well established office market in a continuously densifying urban area consitsting of three office submarkets: Yonge-Bloor, Yonge-St.Clair and Yonge-Eglinton * Lower real estate costs than in Downtown Toronto * Vacancy rates are fairly stable at a low value as this market is in high demand by companies looking to locate in this well located office market * Great access to public transit and highly educated labour force * Abundance of amenities are in walking distance in all three submarkets * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
0.0%
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Yonge & Bloor MAP OF SUBMARKET Q4 2009
Office Inventory*
9,699,400
9,699,400
Net Absorption
(4,766)
(284,757)
Vacancy Rate
4.4%
4.3%
Average Asking Net Rent
$17.24
$16.77
Average Additional Rent
$19.17
$19.19
Trend
Square Feet
Bro BBB B roaaa ro ro ro dvvv ddd aaad iew ie vvie ie ie wAA w w w AAAvvvvveee nuuu nnn een e eee e
Don Do Do n Va nn nn Do Do Valle Va Va Va lle lleyyyPa lley lley lley Parkw Pa rkway rkw Pa Pa rkw rkw ay ay ay ay
TE TE
Danforth Danforth Danforth Avenue Avenue Danforth Avenue Danforth Danforth Avenue Avenue Avenue
ee ee e uu ue nn nu eeen AAAvvvvvveee w w wAAA w w ie iew vvvie ie ie aa aa ayyyyyyvvvie BB BB Ba B
Parliament Parliament Parliament Street Street Parliament Parliament ParliamentStreet Street Street Street
Street Street Street SherbourneStreet Sherbourne Sherbourne Street Street Sherbourne Sherbourne Sherbourne
Jarvis Jarvis Jarvis Street Street Jarvis Jarvis JarvisStreet Street Street Street
Street Street Street Church Church ChurchStreet Street Street Church Church Church
45%
Street Street Street Bay Bay BayStreet Street Street Bay Bay Bay
55%
700,000
11
Yonge Yonge Yonge Street Street Yonge Yonge YongeStreet Street Street Street
800,000
E CrsE ParkCrs Queen'sPark E Crs Park Queen's E Crs Park Queen's E Crs Park E Crs Park Queen's Queen's Queen's
0.5 0.5 kilometers kilometers
65%
900,000
Spadina Spadina SpadinaAvenue Avenue Avenue
Street BathurstStreet Street Street Bathurst Bathurst Street Bathurst Street Bathurst Bathurst
West Street Bloor West Street Bloor Bloor West StreetWest BloorStreet West Street Bloor West Street Bloor
00
Sublease as % of Total Available
YB YB
Davenport Road Davenport Road Road Davenport Road Davenport Davenport Road
TW TW
AVAILABLE SUPPLY SPLIT Sublease
YS YS
Dupont Dupont Dupont Street Street DupontStreet Dupont Dupont Street Street Street
*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. There are 73 office buildings surveyed in this submarket.
Direct
DO DO
AvenueRoad Road Road Avenue Road Avenue Road Avenue Road Avenue Avenue
Q3 2009
Pleasant Road Road Pleasant Pleasant Road Road Mount Pleasant Mount Mount Pleasant Road Pleasant Road
SUBMARKET INDICATORS
Q4-09
DN DN
AVAILABLE SPACE OPTIONS Number of units on the submarket by size brackets
600,000 35%
500,000
25%
400,000 300,000
0
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
88
28
14
5
0
0
# of units**
15%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
5%
RECENT TRANSACTIONS Q4 2009
200,000 100,000
0 - 4k sf
TOP Office Lease Transactions by Size
-5%
Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Address
Not Avail. Office Space
Sq. Ft.
Tenant
Landlord
No transactions took place during this period.
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Suite
TOP Office Sale Transactions by Price
Gross Rent
$45
6,000,000
Date
Address
Price
Vendor
Purchaser
Size
$/PSF
$40 $35
5,000,000
$36.38
$39.77
$30
4,000,000
77 Bloor Street 12/15/2009 West
Cadillac $96,500,000 Fairview
Morguard Investments Limited
370,306
$261
60 Bloor Street 12/15/2009 West
Cadillac $67,575,000 Fairview
Morguard Investments Limited
255,727
$352
3,000,000 $20 $15
Sq. Ft.
Gross Rent $/Sq. Ft.
$30.33 $25
Finance 31%
2,000,000
$10 1,000,000 $5 $-
-
Class A Class B Class C Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Manufacturing & Distribution 6%
15 MONTH TREND Absorption
Asking Net Rent
Professional Services 20%
Data,Publishing, Broadcasting Services 20%
Vacancy Rate
Public Service & Private Sector Services 22%
Others 1%
9.0% 20 8.0%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE 7.0%
10
Address
6.0% -
5.0% Q4 2008
Q1 2009
-10
Q2 2009
Q3 2009
Q4 2009
4.3%
4.0% 3.0%
-20
2.0% 1.0%
-30
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period. Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
$16.77
SUBMARKET CHARACTERISTICS * Largest Midtown office submarket in terms of total inventory and occupied space * Highest real estate costs on average in Midtown market but still less than the core * Multiple residential condominium developments will increase and diversify labour force * Limited parking, but great access to public transit and the northern part of the PATH system, Toronto's underground walkway * Proximity to multiple amenities add convenience for employees and customers * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
0.0%
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Yonge & St. Clair SUBMARKET INDICATORS
Q4-09
MAP OF SUBMARKET YE YE
Trend
2,872,211
Net Absorption
(23,620)
(49,700)
Vacancy Rate
2.7%
4.2%
Average Asking Net Rent
$17.03
$17.14
Average Additional Rent
$19.12
$19.29
Bathurst Street Bathurst Street Bathurst BathurstStreet Bathurst Bathurst Street Street Street
2,872,211
TW TW
St. St. St.Clair Clair Clair ClairAvenue Avenue AvenueWest West West Avenue West St. St. St. Clair Clair Avenue West
YS YS
00
Dupont Dupont Dupont Street Street Dupont Street Dupont Street DupontStreet Street
0.5 0.5
AVAILABLE SUPPLY SPLIT
11
Sublease as % of Total Available
AVAILABLE SPACE OPTIONS
300,000
75%
Number of units on the submarket by size brackets
65%
250,000
55%
200,000
Square Feet
YB YB
kilometers kilometers
Direct
DDoo nn VVaaaa lllleeee yy PP aarrkk w waayy ww
Dav D D aven av D D av av en enpo en en po po port po rtR rtrt rtrt R Roa oa R oadd oa dd
*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. There are 37 office buildings surveyed in this submarket.
Sublease
DO DO
Yonge Yonge YongeStreet Street Street Street Yonge Yonge Yonge Street Street
Office Inventory*
Avenue Avenue Avenue Road Road Avenue Road Avenue Avenue Road Road Road
Lonsdale Lonsdale Lonsdale Road Road Lonsdale Lonsdale Lonsdale Road Road Road Road
Avenue Avenue Avenue Bayview Avenue Bayview Bayview Avenue Avenue Bayview Bayview Bayview
Q4 2009
Road Pleasant Pleasant Road PleasantRoad Road M ount Pleasant Mount Mount M ount Pleasant Mount Road Mount Pleasant Road
Q3 2009
45%
150,000 100,000
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
33
9
3
2
0
0
# of units**
35%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
25%
RECENT TRANSACTIONS Q4 2009
15%
50,000
TOP Office Lease Transactions by Size
5%
Address
0
Suite
-5%
Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Not Avail. Office Space
Landlord
Tenant
No transactions took place during this period.
Q4 2009
TOP Office Sale Transactions by Price
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Sq. Ft.
Gross Rent
Date
Address
Price
Vendor
Purchaser
Size
$/PSF
2,000,000
$45
$33.41
$40
No transactions took place during this period.
1,800,000
$41.28
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
1,600,000
$35
1,400,000
$30
$28.65
1,000,000
$20
Sq. Ft.
Gross Rent $/Sq. Ft.
1,200,000 $25
800,000 $15
600,000
$10
400,000
$5
200,000
$-
-
Manufacturing & Distribution 10%
Class A Class B Class C Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Data,Publishing, Broadcasting Services 8%
18 MONTH TREND Absorption
Asking Net Rent
Public Service & Private Sector Services 42%
Others 2%
Vacancy Rate
20
9.0%
15
$17.14
7.0%
4.2%
5.0%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Address
10
3.0% 5 1.0% Q3 2008
Q4 2008
Q1 2009
-5
-10
Q2 2009
Q3 2009
Q4 2009
-1.0%
-3.0%
-5.0%
Developer
Anchor Tenant
Sq. Ft.
Est. Com.
No construction took place during this period. Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Professional Services 23%
Finance 15%
SUBMARKET CHARACTERISTICS * Smallest office submarket of the Midtown office market * Due to small total inventory submarket usually doesn’t have many space options available * Vacancy Rate remains below the 9% threshold and Rental costs are fairly stable due to this fact * Great access to public transit and proximity to local labour force * Most buildings in this submarket have been built between 1960-1990 with some of them being renovated in the 1990s * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property®
Office Submarket Dashboard: Yonge & Eglinton SUBMARKET INDICATORS
Q4-09
MAP OF SUBMARKET
Q3 2009
Q4 2009
Office Inventory*
4,774,359
4,774,359
Net Absorption
25,178
962
Vacancy Rate
5.7%
5.8%
Average Asking Net Rent
$14.78
$15.09
Average Additional Rent
$17.92
$18.15
Trend
NY NY
111 444 400011 yy4 w waaayyy w w hh hw hh ig igh ig ig H Hig H H H
AVAILABLE SPACE OPTIONS
Brooke Avenue Brooke Brooke Avenue Avenue Avenue Brooke Brooke Brooke
*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. There are 56 office buildings surveyed in this submarket.
Mount MountPleasant Pleasant PleasantRoad Mount Pleasant Mount Mount Road Road Pleasant
Avenue Road Avenue AvenueRoad Road Road Avenue
YE YE
Yo Yo Yo Yon Yon nge nge nge Yon ge ge geStr Str Str Stre Stre Stre eet eet Str Str Street et et et eet eet eet
Bat Bat Bat hur hur Bathur Bat st st hurst hur Stre stStre st et et Street Str Str et eet eet
Lawrence Lawrence Avenue Avenue Lawrence West West Avenue LawrenceAvenue Lawrence West AvenueWest West
YD YD
Square Feet
Sublease as % of Total Available
60%
500,000
50%
TW TW Lonsdale Lonsdale Lonsdale Road Road Road Lonsdale Road Lonsdale Lonsdale Road Road
00
40%
400,000
30%
300,000
11 0.5 0.5 kilometers kilometers
10%
100,000
0%
0 Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Not Avail. Office Space
20 - 50k sf
0
50k - 100k sf
1
100k sf +
0
Address
Suite
Sq. Ft.
Landlord
Tenant
2190 Yonge Street
Suite 300
4,200
Northam Realty Advisors Limited
2217851 Ontario Inc.
TOP Office Sale Transactions by Price Date
Address
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period
Gross Rent
$40
23
TOP Office Lease Transactions by Size
GROSS RENT & AVAILABILITY BY BUILDING BUILDING CLASS CLASS Avail. Office Space
10k - 20k sf
YB YB
-10%
Q3 2008
9
RECENT TRANSACTIONS Q4 2009
20%
200,000
4k - 10k sf
** Counting smallest divisible units in existing buildings and buildings under construction.
YS YS
St. St. St.Clair Clair Clair ClairAvenue Avenue AvenueWest West West Avenue West St. St. St. Clair Clair Avenue West
90
Eglinton Eglinton EglintonAvenue Avenue Avenue AvenueEast East East East Eglinton Eglinton Eglinton Avenue Avenue East East
Bayview Bayview Bayview Avenue Avenue Bayview Bayview BayviewAvenue Avenue Avenue Avenue
Sublease
0 - 4k sf
Drive Drive Laird Laird LairdDrive
AVAILABLE SUPPLY SPLIT Direct
# of units**
DO DO
Eglinton Avenue AvenueWest EglintonAvenue West West Avenue Eglinton West Eglinton Avenue Eglinton West
600,000
Number of units on the submarket by size brackets
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
2,500,000
$35
$31.85
$36.18
2,000,000
Professional Services 27%
$30 1,500,000
$25.48 $20
1,000,000
$15
Finance 13%
Sq. Ft.
Gross Rent $/Sq. Ft.
$25
Manufacturing & Distribution 16%
$10 500,000 $5 $-
Data,Publishing, Broadcasting Services 8%
Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Public Service & Private Sector Services 32%
Others 4%
15 MONTH TREND Absorption
Asking Net Rent
Vacancy Rate
15
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
9.0%
Address
5.8% 7
5.0% 3 3.0% -1
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009 1.0%
-5
-9
-13
-1.0%
-3.0%
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period.
7.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
$15.09 11
SUBMARKET CHARACTERISTICS * Lively urban area with a great mix of uses with lower real estate costs than in the core. * Several recent residential densification projects e.g. Minto Towers on Yonge Street will re-enforce great proximity to diversified labour pool. * Easy access to public transit (subway and buses). * Multiple amenities and services add convenience for employees and customers. * Node has been identified as an “Urban Growth Centre” by the Provincial Government’s Growth Plan for the Greater Golden Horseshoe - activities along those lines will re-energize this area so it will remain a vibrant and successful area of the city. * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property®
COLLIERS INTERNATIONAL
GTA NORTH MARKET AND SUBMARKET BOUNDARIES
LEGEND
West West Drive Drive West Davis West Drive Davis Drive Davis West Drive Davis
Highway 9 Highway 9 Highway 99 99 Highway Highway Highway
Highway
N NE EW WM MA AR RK KE E TT
Main Road GO Transit Submarket Boundary Municipal Boundary
RH RH
H H H ig ig hw hw H H Hig ig ig ighw ay ay hw hw hway 27 27 ay ay ay 27 27 27 27
King Road King King Road King Road Road King Road
B B B ay ay vi vi Bay B B ew ew ayvi ay ay view vi vi A A ewA ew ew ve ve nu nu Ave A A venu ve ve nue nu nu e ee ee
AU UR RO OR RA A A
R R II C CH HM MO ON ND D H H II LL LL
High ghwa Hi Hi wa wa wayyyy 40 gh Hi gh 40444 wa wa 40 4 40
CO CO
Highw Highw Highway ay ay ay427 427 427 427 Highw Highw Highw ay ay 427 427
Finch Avenue Finch Finch Avenue West Avenue Avenue West West West Finch Finch Avenue Avenue DF DF Finch West West TT O OR RO ON N TT O O NY NY
KH KH
YD YD
10 10 11 1 11 00 01 00 44 40 44 w w aa ayyyyyy 4 aa w wa w ig ig hh hw hh H H H ig igh ig H Hig H
Eglinton Eglinton Eglinton Avenue Avenue Avenue West West West Avenue West Eglinton Eglinton Eglinton Avenue West
HB HB
D D D on on Don D D Va Va on Va on on lle lle Valle Va Va P P lleyyyyyyP lle lle ar ar kw kw Par P P arkw ar ay ar ay kway kw kw ay ay ay
West West West Avenue Avenue Avenue West dd dd d Avenue Sheppar West West Sheppar Sheppard Avenue Avenue Sheppar
B B B ay ay vi vi Bay B B ew ew ayvi ay ay view vi vi A A ewA ew ew ve ve nu nu Ave A A venu ve ve nue nu nu e ee ee
55 kilometers kilometers
407 407 407 Highway Highway Highway 407 407 407 Highway Highway Highway
West West West Avenue West Avenue Avenue Steeles Avenue Steeles Steeles West West Avenue Avenue Steeles Steeles Steeles
111000000 yyy444444111 waaaaaayyy w w w w hhhw Hiiiiggiigggghhh H H H H H
00
H H H ig ig hw hw H H Hig ig ig ighw ay ay hw hw hway 48 48 ay ay ay 48 48 48 48
B B B at at hu hu Bat B B athu at rs rs at hurs hu hu S S rstttttt S rs rs tre tre et et Stre S S treet tre tre et et et
K K K ee ee Kee K K le le eele ee ee S S le S tre le tre le Stre S S et et treet tre tre et et et
Rutherford Road Rutherford Rutherford Road Road Road Rutherford Rutherford Rutherford Road Road
MARKHAM
Road Road Brock Brock Brock Road
WB WB
H H H ig ig hw hw H H Hig ig ig ighw ay ay hw hw hway 40 40 ay ay ay 40 40 40 400 00 00 0
VAUGHAN
Prepared By: Colliers International Research Department
Highway 401 Highway Highway 401 401 401 Highway Highway Highway 401 401
YS YS
Our Knowledge is your Property 速 Colliers Macaulay Nicolls (Ontario) Inc., Brokerage and certain of its subsidiaries, is an independently owned and operated business and a member firm of Colliers International Property Consultants, an affiliation of independent companies with over 240 offices throughout more than 50 countries worldwide. This document has been prepared by Colliers International for advertising and general information only. Colliers International does not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.
Office Market Dashboard: GTA North
Q4-09
MARKET INDICATORS Q4 2009
15,427,177
15,427,177
4.1%
Average Asking Net Rent
$17.57
$17.73
Average Additional Rent
$16.95
$17.15
Road King King Road Road King KingRoad King
WB WB
*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. There are 198 office buildings surveyed in this market.
Rutherford Rutherford Rutherford Road Road Rutherford Rutherford RutherfordRoad Road Road Road
AVAILABLE SUPPLY SPLIT Direct
Sublease as % of Total Available
45% 40%
1,000,000
35% 30%
800,000
0 0 0
DF DF
42 77 7 ay 42 427 ay ay 42 hway Hig Hig hw Hig Hig Highw
50%
1,200,000
NY NY
Highway Highway Highway 401 401 401 401 Highway Highway Highway 401
4 4 4 kilometers kilometers kilometers
88 8
KH KH
0 - 4k sf
106
4k - 10k sf
33
10k - 20k sf
19
20 - 50k sf
14
50k - 100k sf
0
100k sf +
3
** Counting smallest divisible units in existing buildings and buildings under construction.
Avenue West Avenue West Eglinton Eglinton Eglinton West West West Eglinton Avenue Eglinton Avenue EglintonAvenue AvenueWest
RECENT TRANSACTIONS Q4 2009
25%
600,000
TOP Office Lease Transactions by Size
20%
400,000 200,000
15%
Address
Suite
Sq. Ft.
Landlord
Tenant
10%
5160 Yonge St
Suite 200/300
37,118
N/A
TTC Canada Inc
2 Sheppard Ave E
Suite 700
16,183
Brainhunter.com
Krylaw and Company
5075 Yonge St
Suite 403
43,000
GWL Realty Advisors Inc
Marketron
5%
0
0%
Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
TOP Office Sale Transactions by Price
GROSS RENT & AVAILABILITY BY BUILDING CLASS Not Avail. Office Space
Avail. Office Space
Gross Rent
Date
Address
Price
Vendor
Purchaser
Size
$/PSF
11/13/2009
3100 Steeles Avenue West
$7,649,998
Gross Capital Inc.
Concord Corporate Centre Inc.
63,552
$120.00
9,000,000
$37.24
$35
8,000,000
$29.99
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
7,000,000
$30
6,000,000 5,000,000
$22.61
$20
4,000,000 $15
Data,Publishing, Broadcasting Services 3%
Sq. Ft.
$25 Gross Rent $/Sq. Ft.
# of units**
SteelesAvenue Steeles AvenueWest Avenue West West Steeles Avenue West Steeles Steeles Avenue West
Sublease
$40
CO CO
Highway Highway Highway 407 407 407
1,400,000
Square Feet
Major Mackenzie MackenzieDrive Major Major Mackenzie Major DriveWest Mackenzie Drive West West
Number of units on the regional market by size brackets
Hig Hig Highw Hig Hig hway hw ay404 404 404 ay 404 404 404
4.2%
Yon Yon Yon ge ge Yonge Yon Yon Stre Stre geStre ge ge et et Street Stre Stre et et et
Vacancy Rate
Bay Bay Bay Ba view vie vie Ba Ba yvie w wAve w yvie yvie Ave Ave Ave Av Av Av w w nue nue nue enu Ave enu Ave enu e nue ee nue nue
79,167 Duf Duf Duf ferin ferin ferin Duf Dufferi feri feri Street Str nnStr Str eet n Str eet eet
3,635
AVAILABLE SPACE OPTIONS RH RH
Hig Highw Hig hw hw hway Hig Hig ay ay ay40 hw hw 400 400 ay ay 40 00
Net Absorption
Drive Drive Davis Davis Davis Drive Drive Drive Davis Davis Drive Davis
Trend
Highwa Hig Hig hwayy hwa hwa Hig y27 yy hwa hwa 27 27 27 27
Office Inventory*
MAP OF MARKET Q3 2009
3,000,000
$10
1,000,000
$-
-
Public Service & Private Sector Services 17%
Manufacturing & Distribution 10%
2,000,000
$5
Professional Services 10%
Finance 15%
Class A Class B Class C Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
15 MONTH TREND Absorption
Asking Net Rent
27
5.0%
4.1%
23
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
4.5%
Address
19
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
4.0%
15
$17.73
No construction took place during this quarer.
3.5%
11 3.0% 7 2.5% 3 2.0% -1
Q4 2008
Q1 2009
-5
Q2 2009
Q3 2009
Q4 2009
1.5%
-9
1.0%
-13
0.5%
-17
0.0%
MARKET CHARACTERISTICS Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Others 45%
Vacancy Rate
* Smallest office market in the GTA with lowest vacancy and highest sublease rates, and highest net asking rates on average of suburban markets. * Strategically located in the GTA with easy access to the areas east, west, north and south of the GTA. * Market is surrounded by highways (including Highways 427, 407, and 400) and residents and local businesses are linked by a network of public transit operated by York Region Transit, GO Train and VIVA * Located adjacent to Buttonville Airport and a short drive to Pearson International Airport * Close to well-educated labour force * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage. Our Knowledge is your Property速
Office Submarket Dashboard: Dufferin-Finch MAP OF SUBMARKET
1,216,160
Net Absorption
0
(1,060)
Vacancy Rate
0.8%
0.8%
Average Asking Net Rent
$9.31
$9.36
Average Additional Rent
$15.13
$15.13
AE AE
West West Avenue Avenue Finch Finch Finch West West West Avenue Avenue Avenue West Finch Finch Finch Avenue
*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. There are 29 office buildings surveyed in this submarket.
0 00 00 0
Square Feet
KH KH
YD YD
AVAILABLE SPACE OPTIONS Direct
Number of units on the submarket by size brackets
Sublease as % of Total Available
50%
90,000
45%
80,000
40%
70,000
35%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
60,000
30%
RECENT TRANSACTIONS Q4 2009
50,000
25%
40,000
20%
30,000
15%
20,000
10%
10,000
5%
0
0% Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Avail. Office Space
Not Avail. Office Space
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
10
1
0
1
0
0
TOP Office Lease Transactions by Size Address
Suite
Sq. Ft.
Tenant
Landlord
No transactions were recorded during this period. TOP Office Sale Transactions by Price Date
Address
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period.
Gross Rent
$30
0 - 4k sf # of units**
GROSS RENT & AVAILABILITY BY BUILDING CLASS
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES CATEGORIES 1,200,000
$25
Professional Services 9%
1,000,000
$25.12 $20
Public Service & Private Sector Services 65%
800,000 $18.09
$15
600,000
$10
400,000
$5
200,000
$-
Sq. Ft.
Gross Rent $/Sq. Ft.
NY NY
100,000
Q3 2008
Class B
Finance 12%
Data,Publishing, Broadcasting Services 7%
Class A
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND Absorption
Manufacturing & Distribution 4%
Others 3%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Asking Net Rent
Address
Vacancy Rate
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period.
17
5.0%
SUBMARKET CHARACTERISTICS *Residential-Industrial submarket with easy access to large diverse labour pool.
3.0%
12 $9.36
1.0% 7
0.8% -1.0%
2
Vacancy Rate
Net Rent $/sf. / Absorption (1,000s)f
DF DF
W W Avenue Avenue W Sheppard SheppardAvenue W Avenue W Sheppard Avenue Sheppard Sheppard
2 22 22 2
kilometers kilometers kilometers
AVAILABLE SUPPLY SPLIT Sublease
1 11 11 1
Bathu Bathu Bathu Bath Bath Bath rst rst rst Stree urst urst urst Stree Streettttt
1,216,160
CO CO West Steeles SteelesAvenue AvenueWest Avenue West Steeles Steeles Avenue West Steeles Avenue West
Duff Duff Duff erin erin Duff Duff Dufferin Stre Stre erin erin erinStre et et Stre Stre Street et et et
Office Inventory*
WB WB
Trend
JaneStre Jane Jane Jane Jane Jane Street Stre et et Stre Stre et et
Q4 2009
Hig Highwa Hig hwa hway Hig Hig hwa hwa yyy y400 400 400
Q3 2009
Keel Keel Keel Keele Kee Kee eStre e Stre Stre le le et et Stre Stre Street et et et
SUBMARKET INDICATORS
Q4-09
* Well serviced by both the TTC (Downsview Subway), Viva, York Region Transportation and the 400 series highways (400 & 407, minutes from the 401) *Submarket is adjacent to Downsview Airport, and 15 minutes from Lester B. Pearson International Airport. *York University is situated in this submarket, bringing over 60,000 students and staff into the submarket everyday (second largest single-day destination in the GTA after Pearson Airport).
-3.0% Q3 2008
Q4 2008
Q1 2009
-3
Q2 2009
Q3 2009
* Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
Q4 2009 -5.0%
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: North Yonge Corridor
Q4-09 MAP OF SUBMARKET
8,892,305
8,892,305
Net Absorption
3,030
63,016
Vacancy Rate
4.9%
4.7%
Average Asking Net Rent
$18.27
$18.55
West West West Avenue Avenue Avenue Steeles Steeles Steeles West West Avenue Avenue West Steeles Steeles SteelesAvenue
DF DF
AVAILABLE SPACE OPTIONS
Bay Bay Bayview view viewAve Bay Bay Bay Ave Avenue view view view nue nue Ave Ave Ave nue nue
Office Inventory*
Trend Ba Bathu Ba thu thurst Ba Ba thu rst rstStr thu rst rst Str Street eet eet eet eet eet
Q4 2009
eee Avenu Avenu ale ale Avenue Avenue Avenue ale ale aleAvenu Willowd Willowdale Willowd
Q3 2009
Yon Yon Yonge ge geStre ge Stre Street Stre ge et et Stre et et
SUBMARKET INDICATORS
WS WS
Finch Avenue West Finch Finch Avenue Avenue West West Finch Finch FinchAvenue Avenue AvenueWest West West
CR CR
Number of units on the submarket by size brackets
# of units**
0 - 4k sf
63
4k - 10k sf
23
NY NY $19.32
$19.61 Sheppard Sheppard SheppardAvenue Avenue Avenue AvenueWest West West West Sheppard Sheppard Sheppard Avenue Avenue West West
Highway 401 Highway 401 401 Highway 401 Highway Highway 401
YD YD
AVAILABLE SUPPLY SPLIT Sublease
Direct
DM DM
Sublease as % of Total Available
1,000,000
York YorkMills MillsRoad Road Mills York Road York York Mills Road Mills Road
75%
Total Available Office Space: 15285487 sf
900,000
65%
800,000
000 0.5 0.5 11 0.5 kilometers kilometers kilometers
Available Sublease 38%
600,000
45%
10k - 20k sf
14
20 - 50k sf
11
50k - 100k sf
0
100k sf +
3
** Counting smallest divisible units in existing buildings and buildings under construction.
YE YE
55% 700,000
Square Feet
Les Les Les lieStr lie lie Le Le Le Str Street slie slie slie Str Str eet eet ee ee ee ttt
Average Additional Rent
*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. There are 66 office buildings surveyed in this submarket.
RECENT TRANSACTIONS Q4 2009 TOP Office Lease Transactions by Size
500,000
35%
400,000
Address
Suite
Sq. Ft.
Tenant
Landlord
25%
300,000
5160 Yonge St
Suite 200/300
37,118
N/A
N/A
2 Sheppard Ave E
Suite 700
16,183
Brainhunter.com
N/A
5075 Yonge St
Suite 403
3,000
GWL Realty Advisors Inc
N/A
15% 200,000 5%
100,000
Available Direct 0 62% Q3 2008
-5% Q4 2008
Q1 2009
Q2 2009
Q3 2009
TOP Office Sale Transactions by Price
Q4 2009
GROSS RENT & AVAILABILITY BY BUILDING CLASS Not Avail. Office Space $45
Avail. Office Space
Gross Rent
$39.56
$40 $35
Address
Price
Vendor
Purchaser
Size
$/PSF
10 Centre Avenue
$2,600,000
An individual(s) acting in
10 Centre Avenue Inc.
3,700
$703
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
6,000,000
$33.65
Date 10/6/2009
5,000,000
Professional Services 18%
4,000,000 $25 3,000,000
$20 $15
Finance 26%
Sq. Ft.
Gross Rent $/Sq. Ft.
$30
2,000,000
$10 1,000,000
$5 $-
Manufacturing & Distribution 13%
Class A
Class B
Class C
Data,Publishing, Broadcasting Services 6%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND Absorption
Asking Net Rent
Public Service & Private Sector Services 34%
Vacancy Rate
25
6.0%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
$18.55
20
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
5.0%
No construction took place during this period.
15
4.7% 10
4.0%
5 3.0% Q3 2008
Q4 2008
Q1 2009
-5
Q2 2009
Q3 2009
Q4 2009
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Others 3%
SUBMARKET CHARACTERISTICS * Traditionally tighter submarket with limited larger office space availabilities * Yonge Subway and other public transit, great proximity to Hwy 401 makes this submarket in the North of the City of Toronto very accessible to employees and customers
2.0%
* Continuing development of residential high-rise condominiums will increase and diversify local labour pool
-10 1.0%
* Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
-15 -20
0.0%
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Richmond Hill SUBMARKET INDICATORS
Q4-09
MAP OF SUBMARKET
Q3 2009
Q4 2009
Office Inventory*
639,823
639,823
Net Absorption
(8,481)
1,323
Trend
Davis Davis DavisDrive Drive Drive Drive Davis Davis Davis Drive Drive
AVAILABLE SPACE OPTIONS
St.John's St. East East SideroadEast John'sSideroad Sideroad John's Sideroad East St. John's St. Sideroad St. John's East
Wellington Wellington WellingtonStreet Street StreetEast East East
$16.61
$11.61
$11.61
Road Road Bloomington BloomingtonRoad Bloomington Road Road Bloomington Bloomington
*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. There are 11 office buildings surveyed in this submarket.
RH RH
AVAILABLE SUPPLY SPLIT Sublease
WB WB Direct
Elgin Elgin Elgin Mills Mills Mills Rd Rd Rd E E E Elgin Elgin ElginMills Mills MillsRd Rd RdE E E
Sublease as % of Total Available
H7 H7
35,000
MackenzieDrive DriveWest West Major Major Major Mackenzie Mackenzie Drive West Mackenzie Drive West
70% 30,000
Square Feet
50%
16th 16th 16thAvenue Avenue Avenue Avenue 16th 16th 16th Avenue Avenue
0 - 4k sf
4
4k - 10k sf
1
10k - 20k sf
0
20 - 50k sf
1
50k - 100k sf
0
100k sf +
0
** Counting smallest divisible units in existing buildings and buildings under construction.
RECENT TRANSACTIONS Q4 2009
40% Address
15,000
30%
10,000
20%
5,000
10% 0% Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Avail. Office Space
Not Avail. Office Space
Suite
Sq. Ft.
Tenant
Landlord
No transactions took place during this period. TOP Office Sale Transactions by Price Date
Address
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period.
Q4 2009
GROSS RENT & AVAILABILITY BY BUILDING CLASS
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
Gross Rent
600,000
$35 $30
Finance 62%
500,000 $29.00
$23.00 400,000
$20 300,000 $15
Professional Services 6%
Sq. Ft.
Gross Rent $/Sq. Ft.
2.5 2.5 55 kilometers kilometers kilometers
# of units**
TOP Office Lease Transactions by Size
20,000
0
200,000
$10 $5
100,000
$-
Class A
Class B
Data,Publishing, Broadcasting Services 2%
Address Asking Net Rent
Others 12%
Sq. Ft.
Anchor Tenant
Est. Com.
2.5%
SUBMARKET CHARACTERISTICS * Smallest office submarket in the GTA
2.0%
* Strategically located in the GTA with easy access to the areas east, west, north and south of the GTA.
1.5%
* Submarket is surrounded by highways and residents and local businesses are linked by a network of public transit operated by York Region Transit, GO Train and VIVA
2.2% $16.61
Developer
No construction took place during this period.
Vacancy Rate
20 15
Public Service & Private Sector Services 15%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
18 MONTH TREND Absorption
Manufacturing & Distribution 3%
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
10 5 1.0% Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 -5 -10
0.5%
Vacancy Rate
Net Rent $/sf. / Absorption (1,000's)
00
60%
25,000
$25
Yonge Yon Yon geStre ge Yon Yon ge Street Stre ge Stre et et Stre et et
$16.61
Average Additional Rent
Bay Bayview Bay view viewAve Bay Bay view view Avenue Ave Ave Ave nue nue
Average Asking Net Rent
Hi Hi gh gh Hi High gh gh ghwa way wa 40 yy 40 40 40 404 44 4
2.2%
Bathur Bat Bat Bath Bath Bath hur hur hur Bat Bat Bat urs urs st urs st st hur hur Stre Street ttt Stre st st st Stre et et Stre et et
2.2%
Hig Hig Hig hwa Hig Hig Highwa hw hw y hwa hwa ay ay 400 yy y 400 40 40 4000
Vacancy Rate
Number of units on the submarket by size brackets
* Located adjacent to Buttonville Airport and a short drive to Pearson International Airport * Close to well-educated labour force * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
0.0%
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Vaughan
Q4-09
SUBMARKET INDICATORS
MAP OF SUBMARKET
5.4%
5.3%
Average Asking Net Rent
$17.53
$17.52
Average Additional Rent
$10.47
$10.69
Major Major Mackenzie Mackenzie Mackenzie Drive Drive West Drive West West Major Mackenzie Drive West Major Major Mackenzie Drive West
Road Road Rutherford Rutherford Rutherford Road RutherfordRoad Road Rutherford Road Rutherford
m ot or w ay
77 Highway Highway Highway 7 77 Highway7 Highway Highway
00
55
10 10
Highway Highway Highway 407 407 407 407 Highway Highway Highway 407
kilometers kilometers
AVAILABLE SUPPLY SPLIT
H7 H7
WB WB CO CO
BR BR
*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. There are 60 office buildings surveyed in this submarket.
Sublease
Hig Highwa Hig hwa hway Hig Hig hwa yy yy y404 hwa 404 404 404 404 404
Vacancy Rate
Steeles Steeles SteelesAvenue Avenue West West Avenue West Steeles Steeles Steeles
Hig Hig Highwa hwa hwa Hig Hig Hig hwa hwa hway 404 404 yy yy y404 404 404 404
13,575
BathurstStreet Bathurst Street Street Bathurst Bathurst Bathurst Street Street
8,785
KeeleStree Keele Keele Streettt Keele Stree Keele Stree Stree Stree
Net Absorption
Duff Duff Duff Duf Duf Dufferin erin erin erinStre ferin Stre Stre ferin et et et Stree Stree Stree ttt
2,722,810
Jan Jan Jan Jan Jan Janee Stre Stre ee eStre et et Stre Street et et
2,722,810
Road King Road Road King King Road King King Road Wes Weston Wes ton tonRoa Wes Wes Roa ton ton ton Roa Road dd dd d
Office Inventory*
Trend
High High High way way Highway High High 400 400 way 400 way way 400 400 400
Q4 2009
High High High Hig way way way Hig Hig hwa hwa hwa 27 27 27 yyy27 27
Q3 2009
AVAILABLE SPACE OPTIONS Direct
Number of units on the submarket by size brackets
Sublease as % of Total Available
250,000
25%
200,000
20%
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
21
5
4
1
0
0
# of units**
Square Feet
** Counting smallest divisible units in existing buildings and buildings which are under construction.
150,000
15%
100,000
10%
50,000
5%
0
0%
RECENT TRANSACTIONS Q4 2009 TOP Office Lease Transactions by Size Address
Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Not Avail. Office Space
Address
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period.
Gross Rent
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES 1,600,000
$24.45
Data,Publishing, Broadcasting Services 0%
1,400,000
$30.77
1,200,000 $24.00
$20
1,000,000 800,000
$15
Sq. Ft.
Gross Rent $/Sq. Ft.
$25
Tenant
Landlord
TOP Office Sale Transactions by Price Date
$35 $30
Sq. Ft.
No transactions were recorded during this period
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Suite
Finance 19%
Professional Services 24%
600,000
$10
400,000
$5
Manufacturing & Distribution 29%
200,000
$-
Class A
Class B
Class C
Others 11%
Public Service & Private Sector Services 17%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
15 MONTH TREND
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Absorption
Asking Net Rent
Address
Vacancy Rate
20
10.0%
16
8.0%
14
7.0%
12 5.3%
10
6.0% 5.0%
8 4.0%
6
3.0%
4
2.0%
2
Est. Com.
* Vaughan has a resident labour force of more than 90,000 and is home to some 7,000 companies. More than half of Vaughan's residents have some post-secondary education. * Vaughan has the lowest Commercial and Industrial Property Taxes in the Greater Toronto Area. * Vaughan's telecommunications network is composed of state-of-the-art fibre optics and 100 percent digital switching. * With over 2,654.8 acres (1,073.7 hectares) of vacant employment land, Vaughan has the second largest inventory of vacant industrial/commercial land within the Greater Toronto Area. Approximately 28 percent of this vacant land is serviced and ready for development. * Area is serviced by multiple transportation routes including Highways 427, 407, and 400, as well as extensive public transportation lines. * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
1.0%
-2
Anchor Tenant
SUBMARKET CHARACTERISTICS
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
9.0%
Sq. Ft.
No construction took place during this period.
$17.52 18
Developer
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
0.0%
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Yorkdale
Q4-09
SUBMARKET INDICATORS
1,956,079
1,956,079
301
2,313
Vacancy Rate
2.3%
2.6%
Average Asking Net Rent
$12.51
$11.80
Average Additional Rent
$12.03
AVAILABLE SPACE OPTIONS NY NY
KH KH
Number of units on the submarket by size brackets
# of units**
0 - 4k sf
8
4k - 10k sf
3
10k - 20k sf
1
20 - 50k sf
0
50k - 100k sf
0
100k sf +
0
Avenue Wilson Wilson Avenue Avenue Wilson Avenue Wilson Wilson
Highway 401 401 Highway 401 401 Highway 401
$12.55
*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. There are 32 office buildings surveyed in this submarket.
Allen Allen Road Road AllenRoad Allen Road
Net Absorption
Sheppard Sheppard Avenue Avenue AvenueWest West West Sheppard Avenue West Sheppard Sheppard West Avenue
Trend
Bath Bath Bath Bathu Bathu Bathu urst urst Bathurst Bath Bath Stre Stre rstStre rst rst urst urst urst Stree Stree et et et Stree ttt
Q4 2009
Duf Duf Duf Du Du Du feri feri feriin Duf Duf Duf ffer ffer ffer nn n nStr feri feri feri in in Str Str Street Stre n n Stre Stre eet eet eet Str Str et et et eet eet
Office Inventory*
MAP OF SUBMARKET
Q3 2009
YD YD
West AvenueWest LawrenceAvenue West Avenue Lawrence West Avenue Lawrence West Avenue Lawrence Lawrence
AVAILABLE SUPPLY SPLIT Sublease
YE YE Direct
Sublease as % of Total Available
25%
70,000
00
20% Square Feet
60,000
11 0.5 0.5 kilometers kilometers kilometers
TW TW
RECENT TRANSACTIONS Q4 2009
50,000
TOP Office Lease Transactions by Size
15%
40,000
Address 10%
30,000
** Counting smallest divisible units in existing buildings and buildings under construction.
West Avenue West AvenueWest Eglinton EglintonAvenue Eglinton
Avenue Avenue AvenueRoad Road Road Avenue Avenue Avenue Road Road
80,000
Suite
Sq. Ft.
Tenant
Landlord
No transactions were recorded during this period. TOP Office Sale Transactions by Price
20,000 5% Date
10,000 0 Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Price
Vendor
Not Avail. Office Space
Size
$/PSF
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Purchaser
No transactions were recorded during this period.
0% Q3 2008
Address
Professional Services 9%
Gross Rent
$40 1,400,000 $35 $24.62
1,000,000
$25 $20
$24.95
800,000
$16.35
$15
600,000
$10
400,000
$5
200,000
$-
Sq. Ft.
Gross Rent $/Sq. Ft.
$30
Finance 40%
1,200,000
Data,Publishing, Broadcasting Services Others 0% 2% Manufacturing & Distribution 5%
Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Address
18 MONTH TREND Absorption
Asking Net Rent
$11.80
3.0% 2.5%
7
2.6% 2.0%
5 3
1.5%
1
1.0% Q3 2008
Q4 2008
Q1 2009
-3
Q2 2009
Q3 2009
Q4 2009
0.5% 0.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
3.5%
9
Sq. Ft.
Anchor Tenant
Est. Com.
SUBMARKET CHARACTERISTICS *Residential-Industrial submarket with easy access to large diverse labour pool.
13 11
Developer
No construction took place during this period.
Vacancy Rate
4.0%
-1
Public Service & Private Sector Services 44%
* Well serviced by both the TTC (Downsview Subway), Viva, York Region Transportation and the 400 series highways (400 & 407, minutes from the 401) *Submarket is adjacent to Downsview Airport, and 15 minutes from Lester B. Pearson International Airport. * Submarket contains Oxford Properties' Yorkdale Shopping Centre: The 5th largest mall in Canada (1.4 million GLA), it attracts 400,000 customers per week with over $1,000/sf of sales (highest in Canada). * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
COLLIERS INTERNATIONAL
GTA EAST MARKET AND SUBMARKET BOUNDARIES WHITCHURCH STOUFFVILLE
LEGEND
East East East Drive Drive Drive East Mackenzie Mackenzie Mackenzie Drive Major Major Major Mackenzie East East Drive Drive Mackenzie Mackenzie Major Major Major
H H H ig ig hw hw H H Hig ig ig ighw ay ay hw hw hway 48 48 ay ay ay 48 48 48 48
MA MA
Avenue Avenue Avenue 16th 16th 16th Avenue Avenue Avenue 16th 16th 16th
GO Transit Street Street Simcoe Simcoe Simcoe Street Street Street Simcoe Simcoe SimcoeStreet
MARKHAM
Road Road Ridge Lake RidgeRoad Road Road Road Lake Ridge Lake Ridge Lake
High gh gh ghwa Hi Hi wayyyy 40 Hi wa gh gh 40444 wa 40 4 40
Main Road
PICKERING Brock Brock Road Road Brock Brock Road Brock
H7 H7
Highway
Road Road Westney Westney Westney Road Road Road WestneyRoad Westney Westney
RICHMOND HILL
W oo oodb W Woo oo db dbine db oo ine ineAv ine db Av Aven ine Av en enue Av en ue en ue
Road Road Stouffville Road Stouffville Road Stouffville Road Stouffville Stouffville
Submarket Boundary Municipal Boundary
Road Road Road hesterrrrr Road heste Road heste Winc Wincheste Winc heste
WHITBY
PO PO
407 407 407 Highway Highway Highway 407 407 407 Highway Highway Highway
OSHAWA
Road Road ton ton Road Road Taun Taunton ton Road Taun ton Taun Taun
AJAX
B B B ay ay vi vi Bay B B ew ew ayvi ay ay view vi vi A A ewA ew ew ve ve nu nu Ave A A venu ve ve nue nu nu e ee ee
WS WS
East East East Avenue Avenue Avenue East Steeles Avenue Steeles Steeles East East Avenue Avenue Steeles Steeles Steeles
East d East East Roaddd Roa Roa land Roa land East Rossland Ross land Roa Roa Ross land Ross Ross
Dundas Dundas Dundas Street Street Street East East East Street East Dundas Dundas Dundas Street East
CR CR
Prepared By: Colliers International Research Department
Highway Highway Highway 401 401 401 401 Highway Highway Highway 401
TORONTO
DO DO
Avenue Avenue Park Park Victoria Victoria Victoria Avenue Avenue Avenue Park Park Park Avenue Victoria Victoria Victoria Park
DM DM
D D D on on Don D D Va Va on Va on on lle lle Valle Va Va P P lleyyyyyyP lle lle ar ar kw kw Par P P arkw ar ay ar ay kway kw kw ay ay ay
Avenue East Avenue East Sheppard East Sheppard Avenue East Sheppard Avenue Sheppard East Sheppard Avenue
ST ST East East East Avenue Avenue Avenue East Lawrence Lawrence Lawrence Avenue East East Avenue Avenue Lawrence Lawrence Lawrence
ddd oooaaaaaddd RRRoo nnnnR o o o t o t t ssst innnggggs K KKKiini
LAKE ONTARIO
TE TE
00
55
10 10
kilometers kilometers
Our Knowledge is your Property 速 Colliers Macaulay Nicolls (Ontario) Inc., Brokerage and certain of its subsidiaries, is an independently owned and operated business and a member firm of Colliers International Property Consultants, an affiliation of independent companies with over 240 offices throughout more than 50 countries worldwide. This document has been prepared by Colliers International for advertising and general information only. Colliers International does not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.
Office Market Dashboard: GTA East
Q4-09
(45,641)
40 4044 40 40 40 44 4
(57,550)
Bay Bayview Bay view viewAve Bay Bay view view Ave Avenue nue nue nue nue nue
Net Absorption
H7 H7
44 44 40 00 00 000 00 0
35,161,287
MA MA
Street Street Street Simcoe Simcoe Simcoe Street Street Street Simcoe Simcoe Simcoe
35,161,287
Road Road Stouffville Stouffville Road Road Stouffville Road Stouffville Stouffville
Road Road Road Ridge Road Ridge Ridge Lake Ridge Lake Lake Road Road Ridge Ridge Lake Lake Lake
Office Inventory*
Trend
Road Road Road Brock Brock BrockRoad Road Road Brock Brock Brock
Q4 2009
Highway Highway Highway Highwayyy 48 Highwa Highwa 48 48 48 48 48
MAP OF MARKET Q3 2009
War Warden War den denAve War War den Ave Avenue den Ave nue nue Ave nue nue Ken Ken Ken ned ned Kenned Ken Ken nedyyyyyyRoa ned ned Roa Roa Road Roa Roa d dd dd
MARKET INDICATORS
Road Road Winchester Road Winchester Road Winchester Road Winchester Winchester
PO PO
407 407 407 407 407 407
Road Road Road Taunton Taunton TauntonRoad Road Road Taunton Taunton Taunton
Steeles Steeles SteelesAvenue Avenue AvenueEast East East Avenue East Steeles Steeles Steeles Avenue East
7.8% $12.98
$12.60 $12.12
DVP DVP DVP DVP
$12.42
*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. There are 460 office buildings surveyed in this market.
AVAILABLE SPACE OPTIONS
Direct
Square Feet
LAKE ONTAR IO
20 20
kilometers kilometers
AVAILABLE SUPPLY SPLIT Sublease
Number of units on the regional market by size brackets
Sublease as % of Total Available
5,000,000
50%
4,500,000
45%
4,000,000
40%
3,500,000
35%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
3,000,000
30%
RECENT TRANSACTIONS Q4 2009
2,500,000
25%
2,000,000
20%
1,500,000
15%
Address
1,000,000
10%
1490 Denison Street
500,000
5%
0
0%
Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
416
160
86
80
11
8
# of units**
TOP Office Lease Transactions by Size Suite 0
1491 Denison Street
0
305 Milner Ave
Suite 112
Not Avail. Office Space
Avail. Office Space
Gross Rent
Date
$30
18,000,000 10/9/2009
$24.20
16,000,000
$26.25
Landlord
Tenant
46,000
Neamsby Investments Inc
N/A
40,203
Neamsby Investments Inc
N/A
10,492
305 Milner Avenue Inc.
Business Development Bank of Canada
$20
Address 1450 Midland Avenue
Price
Vendor
Purchaser
Size
$/PSF
$7,200,000
Paladium Investment Limited
Lawrence Midland MF Holding Corp.
58,536
$123.00
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
14,000,000 12,000,000 10,000,000
$18.10
$15
8,000,000 $10
Data,Publishing, Broadcasting Services 13%
Sq. Ft.
$25
Sq. Ft.
TOP Office Sale Transactions by Price
GROSS RENT & AVAILABILITY BY BUILDING CLASS
Gross Rent $/Sq. Ft.
ST ST
Lawrence Lawrence LawrenceAvenue Avenue Avenue AvenueEast East East East Lawrence Lawrence Lawrence Avenue Avenue East East
Eglinton EglintonAvenue Avenue AvenueEast East East Eglinton Eglinton Eglinton Avenue Avenue Avenue East East East aaaddddd RRR Roooooaa R to tonnnnn to to sssssto in ingggggg in in KKK Kin K
TE TE
10 10
00
401 401 401 401 401 401
Dundas Dundas DundasStreet Street Street StreetEast East East East Dundas Dundas Dundas Street Street East East
East East Avenue Avenue Sheppard Sheppard Sheppard East East East Avenue Avenue Avenue East Sheppard Sheppard Sheppard Avenue
DM DM DO DO
Average Additional Rent
East East East Avenue Avenue East Finch Finch Avenue East East Avenue Finch Avenue Finch Finch
Victoria Victoria Victoria Park Park Avenue Avenue Victoria Victoria VictoriaPark Park Park ParkAvenue Avenue Avenue Avenue
Average Asking Net Rent
WS WS
8.0%
427 427 427 427 427 427
Vacancy Rate
Finance 22%
Professional Services 21%
6,000,000 4,000,000
$5 2,000,000 $-
-
Manufacturing & Distribution 23%
Class A Class B Class C Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Public Service & Private Sector Services 18%
Others 3%
18 MONTH TREND Absorption
Asking Net Rent
Vacancy Rate
15
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
12.0%
Address $12.60
11 9
10.0%
8.0%
7
8.0%
5
6.0%
3 4.0%
1 -1
Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
2.0%
-3 -5
0.0%
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
MARKET CHARACTERISTICS
Vacancy Rate
Net Rent $/sf. / Absorption (100,000's)
13
*GTA East Market includes submarkets of Don Mills/Eglinton, Duncan Mills, Consumers Road, Scarborough Town Centre, Markham Town Centre, Pickering/Oshawa, Hwy 404/Hwy 407, Woodbine/Steeles, and Toronto East. *Serviced by multiple high-density transportation routes (401, 407, 404, DVP) and several public transit services (TTC, Go, Ajax Pickering TA, Oshawa Transit, Whitby Transit, York Region Transit) *Close proximity to suburban labour pool *Post-Secondary education campuses include University of Toronto - Scarborough, Seneca College - Newham, Durham College. *Major companies in this area inlude Celestica, IBM, Wrigley's Canada, Nestlé Canada, Mony Life, McDonald's Canada, Alcatel Canada Wire. * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property®
Office Submarket Dashboard: Consumers Road SUBMARKET INDICATORS
Q4-09
MAP OF SUBMARKET
(30,853)
7,908
Vacancy Rate
8.4%
8.0%
$12.22
$12.16
Average Additional Rent
$12.66
$12.50
Sheppard East Avenue East AvenueEast Sheppard SheppardAvenue
00
22
DM DM
AVAILABLE SPACE OPTIONS Direct
Number of units on the submarket by size brackets
Sublease as % of Total Available
25%
600,000 500,000 Square Feet
11 kilometers kilometers
AVAILABLE SUPPLY SPLIT
20%
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
76
22
7
2
0
0
# of units**
** Counting smallest divisible units in existing buildings and buildings which are under construction.
400,000 15%
RECENT TRANSACTIONS Q4 2009
300,000
TOP Office Lease Transactions by Size 10%
200,000
Address 5%
100,000 0
0% Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Avail. Office Space
Not Avail. Office Space
Suite Suite 201
235 Yorkland Blvd
Suite 204
Tenant
3,301
Northam Realty
Allen Capital
2,171
Northam Realty
Thyssen Dover Elevator
TOP Office Sale Transactions by Price Date
Address
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period.
Gross Rent
$35
Landlord
Sq. Ft.
245 Yorkland Blvd
Q4 2009
GROSS RENT & AVAILABILITY BY BUILDING CLASS 2,500,000
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
$23.03 2,000,000
$29.62
$25
1,500,000
$20 $19.95 $15
Data,Publishing, Broadcasting Services 9%
Sq. Ft.
$30
Gross Rent $/Sq. Ft.
ST ST
H H H ig ig Hig H H hw hw ighw ig ig hway hw hw ay ay ay 40 ay ay 40 40 401 40 40 1 11 11
*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. There are 30 office buildings surveyed in this submarket.
Sublease
CR CR Don Don Mills Mills Mills Road Don Road Road Mills Road Don Don Mills Road
NY NY
Average Asking Net Rent
Hig Highw Hig Hig Hig hw hway hw hw ay ay ay 40 ay ay 40 40 404 444 4 40 40
Net Absorption
WS WS Finch East Avenue FinchAvenue AvenueEast East Finch Avenue East Finch Finch East Avenue Leslie Les Les Les Les lie Stre lie Street Stre Stre et et Stre et et
3,706,690
Ba Ba Ba Bay Bay yvie yvie yvie Bay view view w w w Ave view Ave Ave Ave Ave Avenue nue nue nue nue nue
3,706,690
Avenue Avenue Avenue Warden Avenue Warden Warden Avenue Avenue Warden Warden Warden
Office Inventory*
Trend
Pharmacy Avenue Pharmacy Pharmacy Avenue Avenue Avenue Avenue Avenue Pharmacy Pharmacy Pharmacy
Q4 2009
Avenue Avenue Park ParkAvenue Victoria Victoria Avenue Avenue Avenue Victoria Park Park Park Victoria Victoria
Q3 2009
Finance 22%
1,000,000
Professional Services 28%
$10 Manufacturing & Distribution 26%
500,000 $5 $-
Class A
Class B
Class C
Others 5%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Public Service & Private Sector Services 10%
18 MONTH TREND Asking Net Rent
Vacancy Rate
TOP PROJECTS UNDER CONSTRUCTION BY SIZE 10.0%
12
9.0%
$12.16
10
8.0%
8
7.0%
6
6.0%
4
5.0%
2
4.0%
-2
3.0% Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Address
2.0%
-4
1.0%
-6
0.0%
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period.
8.0% Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Absorption
14
SUBMARKET CHARACTERISTICS * Comparably small submarket with budget-friendly real estate costs. * Excellent access to Hwy 400 series allows for easy in-and-out of the office by employees and customers. * Well served by TTC buses and the Sheppard Subway. * High profile location visible from Highway 401 and Highway 404. * With new residential development at the Concord Park Place and the Don Mills Centre labour pool will expand and diversify. * Fairview Mall offers a sufficient selection of amenities to employees. * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Duncan Mill SUBMARKET INDICATORS
Q4-09 MAP OF SUBMARKET
Q3 2009
Q4 2009
Office Inventory*
2,298,890
2,298,890
Net Absorption
4,066
(14,723)
Vacancy Rate
3.1%
4.2%
Average Asking Net Rent
$10.97
$10.35
Average Additional Rent
$14.85
$14.18
CR CR
Trend
Hig H H Hi ig ig Hi Hi gh hw hw hw gh gh w way w ay 40 ay ay ay ay 401 40 1 111
East East Avenue East Sheppard Avenue East Avenue East SheppardAvenue Sheppard Sheppard
VictoriaPark Victoria ParkAvenue Park Avenue Avenue Victoria Victoria Park Avenue Park Avenue
Don DonMills Don Mills MillsRoad Don Don Mills Road Road Mills Road Road
Leslie Les Les lieStre lie lie Street Stre lie lie Stre et et et Stre et et
DO DO
Number of units on the submarket by size brackets
Sublease as % of Total Available
400,000
50% 45%
350,000
40%
300,000
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
17
10
1
3
0
0
# of units**
35%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
250,000
30%
RECENT TRANSACTIONS Q4 2009
200,000
25%
150,000
20% 15%
100,000
TOP Office Lease Transactions by Size Address
10%
50,000
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Not Avail. Office Space
Tenant
Landlord
TOP Office Sale Transactions by Price Date
Address
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period.
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Sq. Ft.
No transactions were recorded during this period.
0% Q3 2008
Gross Rent
$35
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES CATEGORIES
2,000,000
1,800,000
$30 $28.86
1,600,000
$23.13
Data,Publishing, Broadcasting Services 13%
1,400,000 1,200,000
$20
1,000,000 $15
Sq. Ft.
$25
Suite
5%
0
Gross Rent $/Sq. Ft.
Lawrence Avenue Lawrence East AvenueEast East Avenue Avenue Lawrence East Avenue Lawrence Lawrence East
22
AVAILABLE SPACE OPTIONS Direct
Road Birchmount Birchmount Road Birchmount Road
11 kilometers kilometers
ST ST
Victoria Victoria Park ParkAvenue Avenue Park Avenue Park Avenue Victoria Victoria Park Avenue
AVAILABLE SUPPLY SPLIT
Square Feet
Bayvie Ba Ba yview yvie yvie wAve yvie yvie w Avenue Ave w w Ave nue Ave nue nue nue
Yon Yon Yonge geStre ge ge Street Stre ge Stre Stre et et et et
00
Lawrence LawrenceAvenue AvenueEast East Lawrence Avenue East
Road Road Ellesmere EllesmereRoad Road Ellesmere Road Ellesmere Ellesmere
Avenue Pharmacy Pharmacy Avenue Pharmacy Avenue PharmacyAvenue Avenue Pharmacy
YE YE
*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. There are 39 office buildings surveyed in this submarket.
Sublease
DM DM
York York Mills York Road Road Mills Road Mills Road Road
Don Don Don Valley Valley Parkway Parkway Don Don Don Valley Valley Valley ValleyParkway Parkway Parkway Parkway
NY NY
Finance 12%
Professional Services 18%
800,000 600,000
$10
400,000 $5
Manufacturing & Distribution 24%
200,000
$-
Class A
Class B
Others 7%
Class C
Public Service & Private Sector Services 26%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND Absorption
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Asking Net Rent
Address
Vacancy Rate
$10.35
12 10
10.0% 8.0%
6 4.2%
4 2
6.0% 4.0%
-2
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
-4
2.0%
Sq. Ft.
Anchor Tenant
Est. Com.
SUBMARKET CHARACTERISTICS
12.0%
8
Developer
No construction took place during this period.
14.0%
14
Vacancy Rate
Net Rent $/sf. / Absorption (10,000s)f
16
* Submarket has second highest vacancy rate in the entire GTA next to Scarborough Town Centre at 13.8% * Great access to Don Valley Parkway which runs North-South through the submarket and Hwy 401 which represents the northern most border of this submarket * Extensive public transit coverage via bus connecting to TTC Subway along York Mills Road and Lawrence Avenue * Signage opportunities along the highway * Real Estate costs lower than in denser areas * Contains most expensive residential neighbourhood in Canada - The Bridle Path * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
0.0%
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Don Mills-Eglinton SUBMARKET INDICATORS
MAP OF SUBMARKET
Vacancy Rate
12.3%
12.0%
Average Asking Net Rent
$12.06
$11.61
$14.16
YE YE Eglinton Eglinton EglintonAvenue Avenue AvenueEast East East
DO DO
$14.16
Boulevard Boulevard Boulevard Boulevard Overlea OverleaBoulevard Overlea
East AvenueEast Clair Avenue St.Clair East Avenue Clair St. East Avenue Clair St. East Avenue Clair St. East Avenue Clair St. St.
00
1.5 1.5
33 O'Connor O'Connor O'Connor Drive Drive Drive Drive O'Connor O'Connor O'Connor Drive B BB BB Bro ro roaa ro ro aaad ddd dvvv ie ieww ie ie ie w w wA Avvv AA eee ennn e nnu uuu ueee ee
Avenue Avenue Park Park Victoria Victoria Victoria Avenue Avenue Avenue Park ParkAvenue Park Victoria Victoria VictoriaPark
AVAILABLE SPACE OPTIONS
TE TE
Avenue Avenue Donlands Donlands Donlands Avenue Avenue Avenue Donlands Donlands DonlandsAvenue
kilometers kilometers
AVAILABLE SUPPLY SPLIT Direct
ST ST
YS YS
*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. There are 62 office buildings surveyed in this submarket.
Sublease
Valley Valley Valley Parkway Parkway Parkway Don Don DonValley Valley Valley Parkway
29,135
Don Don Don Mills Mills DonMills Don Don Road Road MillsRoad Mills Mills Road Road Road
(6,720)
Street Street Street Leslie Leslie Street Street Street
Net Absorption
BayviewAvenue Bayview Avenue Avenue Bayview Bayview Bayview Avenue
5,555,372
Lawrence LawrenceAvenue Lawrence East Avenue East AvenueEast Park Victoria VictoriaPark Victoria ParkAvenue Avenue Avenue
5,555,372
Lawrence Lawrence Avenue East Lawrence Avenue East Lawrence Avenue Lawrence Avenue LawrenceAvenue AvenueEast East East East
Avenue Pharmacy Avenue Pharmacy Pharmacy Avenue PharmacyAvenue
Office Inventory*
DM DM
Trend
Drive Laird Laird Drive Laird Drive Drive Laird LairdDrive
Q4 2009
Mount Mount Mount Pleasant Pleasant Pleasant Road Road Road Mount Mount MountPleasant Pleasant PleasantRoad Road Road
Q3 2009
Average Additional Rent
Q4-09
Number of units on the submarket by size brackets
Sublease as % of Total Available
1,000,000 70%
Total Available Office Space: 15285487 sf
900,000 800,000
60%
Square Feet
700,000
50% Available Sublease 21%
600,000 500,000
40%
400,000
20%
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
77
21
21
2
3
3
# of units**
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q4 2009 TOP Office Lease Transactions by Size Address
Suite
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
$30
Not Avail. Office Space
Gross Rent
Tenant
Landlord
TOP Office Sale Transactions by Price
0% Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Sq. Ft.
No transactions were recorded during this period.
10%
0
Date
Address
11/20/2009
101 Thorncliffe Park Dr
Price
Vendor
Purchaser
Size
$/PSF
$2,100,000
101 Thorncliffe Park Dr Ltd.
The Sisters of St. Joseph For The Diocese of T.O.
11,300
$186
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES 4,500,000
$25.71
4,000,000
$28.12
Data,Publishing, Broadcasting Services 16%
3,500,000 3,000,000 $21.07
$15
2,500,000 2,000,000
$10
Finance 18%
Sq. Ft.
$20 Gross Rent $/Sq. Ft.
4k - 10k sf
30%
300,000 Available Direct 200,000 79% 100,000
$25
0 - 4k sf
Professional Services 12%
Manufacturing & Distribution 30%
1,500,000 1,000,000
$5
500,000
$-
Class A
Class B
Public Service & Private Sector Services 23%
Others 1%
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND Absorption
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Asking Net Rent
Address
Vacancy Rate
14
14.0%
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period. SUBMARKET CHARACTERISTICS
12.0%
* Great access to Don Valley Parkway which runs North-South through the
12.0%
10
10.0% 8 6
8.0%
4
6.0%
2 4.0% -2
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
-4
2.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
$11.61 12
submarket. * Convenient public transport to the TTC Subway along Eglinton and Don Mills Roads. * Major companies in this area inlude Celestica, BCE, Telus, Four Seasons, ESSO and Home Depot Head Office. * Real Estate costs lower than in denser areas. * Cadillac Fairview has developed Shops at Don Mills, a 450,000-sq.ft. community-based lifestyle centre on the SW corner of Lawrence Ave and Eglinton Ave E with 1,300 mid-rise residential units, retail and office space. * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
0.0%
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Hwy 404 & Hwy 407 SUBMARKET INDICATORS
MAP OF SUBMARKET
8,369,441
8,369,441
Net Absorption
(34,217)
23,090
Vacancy Rate
8.2%
8.2%
Average Asking Net Rent
$14.47
$14.95
$10.18
Stouffville Stouffville StouffvilleRoad Road Road Road Stouffville Stouffville Stouffville Road Road
AVAILABLE SPACE OPTIONS
Avenue Avenue 19th 19th 19th Avenue Avenue Avenue 19th 19th 19thAvenue
E E Rd E RdE Mills Elgin Elgin Mills ElginMills Mills Rd E E Rd Rd Rd Elgin Elgin Mills Elgin Mills
RH RH
War War War Wa Wa Wa denAve den den rden Avenue Ave rden rden Ave nue nue Ave nue nue
Office Inventory*
Trend
Hig Hig hw hway Hig Highw hwa ay hwa 404 404 yy 404 404 404 404
Q4 2009
Woo Woo Woo dbin dbin Woo Woo Woodbin dbine dbine dbine dbin dbin dbine Aven Aven Ave Ave Ave ee ee eAven ue ue ue Aven Aven Aven nue nue nue ue ue ue
Q3 2009
Average Additional Rent
Q4-09
H7 H7
$10.47
Major Mackenzie Major Mackenzie Major Mackenzie Drive Drive East Drive East Major Major Mackenzie Drive MajorMackenzie MackenzieDrive DriveEast East East
MA MA
*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. There are 125 office buildings surveyed in this submarket.
Sublease as % of Total Available
CO CO 70%
1,000,000
60%
800,000
50%
000
11
y ay ay ay Highwa Highwa Highwa 77 77 7 yy yy y7 Highw Highw Highw Highwa Highwa Highwa
222
Square Feet
kilometers kilometers
# of units**
0 - 4k sf
81
4k - 10k sf
44
10k - 20k sf
26
20 - 50k sf
28
50k - 100k sf
1
100k sf +
3
** Counting smallest divisible units in existing buildings and buildings under construction.
Highway 407 407 Highway Highway 407
RECENT TRANSACTIONS Q4 2009 TOP Office Lease Transactions by Size
40%
600,000
Address
Suite
Sq. Ft.
Landlord
Tenant
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
30% 400,000
20%
200,000
10%
0
0% Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
TOP Office Sale Transactions by Price Date
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Not Avail. Office Space
Address
Price
Vendor
Purchaser
Size
$/PSF
No transactions took place during this period.
Gross Rent
$30
4,500,000 $27.58
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
4,000,000
$25
3,000,000
$15.69
2,500,000
$15
2,000,000
$10
Sq. Ft.
$20
Data,Publishing, Broadcasting Services 13%
3,500,000
$25.61 Gross Rent $/Sq. Ft.
Warden Wa Wa War rden rden War War den den denAve Ave Avenue nue nue nue nue
Direct
Les Leslie Les lie Les Stre lieStre lie Street Stre et et et
Sublease
1,200,000
Avenue Avenue 16th 16th 16th Avenue Avenue 16th 16thAvenue
Bayview Bay Bay view viewAve view Ave Avenue Ave nue nue nue nue nue
AVAILABLE SUPPLY SPLIT
Number of units on the submarket by size brackets
Finance 17%
1,500,000 Manufacturing & Distribution 32%
1,000,000
$5
500,000
$-
Professional Services 26%
Class A
Class B
Class C
Others 3%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Public Service & Private Sector Services 9%
18 MONTH TREND Absorption
20
Asking Net Rent
8.2%
16
9.0% 8.0%
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
0
0
0
0
1/0/1900
$14.95 12
7.0%
8
6.0%
4
5.0%
-4
4.0% Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
3.0%
-8
2.0%
-12
1.0%
-16
0.0%
SUBMARKET CHARACTERISTICS * Convenient access to Hwy 400 series and a well developed road infrastructure make this Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Vacancy Rate
submarket very accessible by car * Lower real estate costs that in the City of Toronto * Proximity to labour pool in suburban municipalities * Buttonville airport is located in the center of this submarket * Most office space is concentrated in business parks located along Hwy 404 (e.g. Beaver Creak and Headford Business Park) * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Woodbine-Steeles SUBMARKET INDICATORS
Yong Yong Yonge eStre eee Yong Yong Yong Street Stre Stre Stre et et et
Bathu Bathu Bathurst rst rstStreet Bathu Bathu Bathu Street Street rst Street rst Street
Q4-09 MAP OF SUBMARKET Trend
30,402
9,161
Vacancy Rate
7.1%
6.1%
Average Asking Net Rent
$12.97
$12.55
Average Additional Rent
$12.06
$12.12
CO CO
WS WS
Street Street Street John John Street John Street Street
NY NY
AVAILABLE SUPPLY SPLIT Sublease
00
22
44
Leslie Leslie Leslie Leslie Leslie LeslieStreet Street Street Street Street Street
Bay Bay Bay view view Bay Bay Bayview viewAve view view Ave Ave nue nue Ave Avenue Ave nue nue nue
Avenue Steeles Avenue Steeles Steeles East East Steeles Avenue Steeles Steeles AvenueEast Avenue Avenue East East East
*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. There are 50 office buildings surveyed in this submarket.
Woo Woo Woo dbine dbine Woo Woo Woodbine dbine dbine dbineAven Aven Aven ue ue Aven Aven Avenue ue ue ue
Net Absorption
407 407 407 Highway 407 Highway Highway 407 407 Highway Highway
Hig Hig Hig hw hw Hig Hig Highw hwa hwa ay ay ay hwa 404 404 yyy 404 404 404 404
5,095,438
East East Finch Finch Avenue Finch Avenue East East East Finch Avenue Finch Avenue FinchAvenue AvenueEast
Avenue Warden Warden Avenue Avenue Avenue Warden Warden WardenAvenue
5,095,438
MA MA
Avenue Avenue Park Park Avenue Avenue Victoria Victoria Victoria ParkAvenue Park VictoriaPark Victoria Victoria
Office Inventory*
H7 H7
Avenue Avenue Pharmacy Pharmacy Pharmacy Pharmacy PharmacyAvenue
Q4 2009
Road Mills Don Don Don Road Mills Road Road Mills MillsRoad Don Don DonMills
Q3 2009
ST ST
kilometers kilometers
AVAILABLE SPACE OPTIONS Direct
Number of units on the submarket by size brackets
Sublease as % of Total Available
600,000 70%
Square Feet
500,000
60%
400,000
50% 40%
300,000
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
53
30
12
24
1
2
# of units**
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q4 2009 TOP Office Lease Transactions by Size
30% 200,000 20% 100,000
Address
Suite
Sq. Ft.
Landlord
Tenant
3100 Steeles Ave E
Suite 1000
7,873
Crown Realty Partners
Atria Networks
50 Acadia Avenue
Suite 102
2,950
N/A
N/A
10%
0
0%
TOP Office Sale Transactions by Price
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Date
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Not Avail. Office Space
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period.
Gross Rent
$35
Address
3,500,000
$30
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
3,000,000
$25
2,500,000
$20
2,000,000 $19.04
$15
$19.16
$10
1,500,000
Data,Publishing, Broadcasting Services 7%
1,000,000
$5
500,000
$-
Finance 38%
Sq. Ft.
Gross Rent $/Sq. Ft.
$28.60
Class A
Class B
Manufacturing & Distribution 13%
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Professional Services 33% Public Service & Others Private Sector 4% Services 5%
18 MONTH TREND Absorption
Asking Net Rent
8.0% $12.55
Address
10 6.1% 5.0% 4.0% Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
3.0% 2.0%
-5
Sq. Ft.
Anchor Tenant
Est. Com.
SUBMARKET CHARACTERISTICS
6.0%
5
Developer
No construction took place during this period.
7.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Vacancy Rate
15
* Great access to Hwy 404/407, closeness to highways also offers highway signage opportunities. * Toronto Buttonville Municipal Airport is just minutes away to the North. * Lower real estate costs than in denser submarkets. * Toronto - Markham border runs from East to West through this area resulting in the fact that office building owners North of Steeles Ave E have to pay lower taxes than South of it. * The Seneca College of Applied Arts and Technology - Newham College is located in this submarket offering post-secondary education on a full and part-time basis. * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
1.0% -10
0.0%
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Markham
Q4-09
SUBMARKET INDICATORS
MAP OF SUBMARKET
13,844
6,839
Vacancy Rate
4.9%
4.9%
Average Asking Net Rent
$13.68
$13.68
Average Additional Rent
$7.31
H7 H7
Nint Nint Nint Line Line Nint Nint Ninthh hh hLine Line Line
Net Absorption
AVAILABLE SPACE OPTIONS Road Road Stouffville Road StouffvilleRoad Stouffville Road Road
Hig Hig hw Highw Hig ay ay hway hw 48 ay48 ay ay 48 48
3,181,191
McC McC McC ow ow ow Mc Mc Mc owa owa owa an an an Cow Cow Cow Roa Road Roa nnnRoa an an an dd dd d Roa Roa
3,181,191
Ken Ken Ken ned ned Ken Ken Kenned ned ned nedy Roa Roa yy yy yRoa Roa Roa Road dd dd d
Office Inventory*
Trend
Wa Wa Wa rden rden rden War War War Ave Ave den denAve den nue nue Ave Avenue Ave nue nue nue
Q4 2009
Line rham Line rhamLine Line Line York-Du York-Du rham rham York-Durham York-Du York-Du
Q3 2009
East East Drive Drive Mackenzie Mackenzie Major Major East East East DriveEast Major Mackenzie Drive MackenzieDrive Mackenzie Major Major
$7.32
MA MA
*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. There are 43 office buildings surveyed in this submarket.
Avenue Avenue 16th 16th 16th Avenue Avenue 16thAvenue 16th 16th
AVAILABLE SUPPLY SPLIT Sublease
Direct
777 7 Highway Highway7 Highway
Sublease as % of Total Available
Highway 407 407 Highway 407 Highway 407 Highway
300,000 70%
Square Feet
250,000
60%
200,000
hhhAvenue Avenue Avenue th th th Fourteent Fourteent Fourteent Fourteen Fourteen Fourteen Fourteenth Fourteenth Fourteenth
00
1.5 1.5 33 1.5 kilometers kilometers kilometers kilometers kilometers kilometers
40%
Address
Q2 2009
Q3 2009
Q4 2009
Avail. Office Space
Not Avail. Office Space
Date
Address
Sq. Ft.
Price
Vendor
Data,Publishing, Broadcasting Services 8%
1,600,000 1,200,000 $17.73
1,000,000
Sq. Ft.
1,400,000
$20 Gross Rent $/Sq. Ft.
100k sf +
0
Tenant
Landlord
Purchaser
Size
$/PSF
1,800,000
$20.47
$15
3 2
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
2,000,000 $24.92
20 - 50k sf 50k - 100k sf
No transactions were recorded during this period
Gross Rent
$30
7
TOP Office Sale Transactions by Price
GROSS RENT & AVAILABILITY BY BUILDING CLASS
$25
Suite
0% Q1 2009
5
No transactions were recorded during this period.
10%
Q4 2008
4k - 10k sf 10k - 20k sf
TOP Office Lease Transactions by Size
20%
Q3 2008
20
** Counting smallest divisible units in existing buildings and buildings under construction.
Steeles Steeles SteelesAvenue Avenue AvenueEast East East Avenue East Steeles Steeles Steeles Avenue East
30%
0
0 - 4k sf
RECENT TRANSACTIONS Q4 2009
100,000 50,000
# of units**
ST ST
50%
150,000
Number of units on the submarket by size brackets
Finance 20%
800,000 $10
600,000 400,000
$5
200,000 $-
Class A
Class B
Professional Services 29%
Manufacturing & Distribution 34%
Class C
Others 5%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Public Service & Private Sector Services 4%
18 MONTH TREND Absorption
Asking Net Rent
7.0%
16 $13.68
6.0%
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
0
0
0
0
1/0/1900
SUBMARKET CHARACTERISTICS
14 5.0% 12
* Close to Hwy 400 series and a well developed road infrastructure make this submarket
4.9%
10
4.0%
8
3.0%
6 2.0% 4 1.0%
2 -
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Vacancy Rate
18
very accessible by car * Lower real estate costs that in the City of Toronto * Proximity to labour pool in suburban municipalities * Buttonville airport is easily accessable * High-Technology and Life Sciences are the two key business clusters in this area * Seneca College recently opened their Markham campus, the first post-secondary educational research and training facility in Markham. * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
0.0% Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Pickering-Oshawa SUBMARKET INDICATORS
MAP OF SUBMARKET
$12.70
$13.70
Avenue Finch Avenue Finch Finch Finch Avenue Finch Finch Avenue Avenue Avenue
$12.49
*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. There are 31 office buildings surveyed in this submarket.
AVAILABLE SUPPLY SPLIT
Square Feet
Sublease
Highway Highway Highway 401 401 Highway Highway Highway 401 401 401 401
ST ST Birchmount Birchmount BirchmountRoad Road Road Road Birchmount Birchmount Birchmount Road
$9.41
Road Road Road Conlin Conlin Road Conlin Road Road Conlin Conlin
PO PO
00
Road Road Road Taunton Taunton Taunton Road Road Taunton Taunton TauntonRoad
North Road Townline Townline Townline North Road North North RoadNorth Road Townline Townline TownlineRoad
Average Asking Net Rent
Road Road Enfield Enfield Enfield Road Road EnfieldRoad Enfield
1.1%
Road Ritson Ritson Road Ritson Road Road RitsonRoad Ritson
1.4%
South South Road Harmony Harmony RoadSouth Harmony HarmonyRoad Harmony
Vacancy Rate
777 Highway Highway 7 7 Highway Highway Highway 407 407 407 407 Highway Highway 407 Highway
Road Road Columbus Columbus Columbus Road
North Road North Thornton Thornton Road Thornton North North RoadNorth Road ThorntonRoad Thornton
22,611
Street Street Simcoe SimcoeStreet Simcoe Street Street Street
(6,952)
Road Road ter ter ter Winches rrr Road Winches Winches Wincheste Wincheste Wincheste
Street Brock Brock Street Brock Street Street BrockStreet Brock
Net Absorption
MA MA
Road Road RoadE E E Myrtle Myrtle Myrtle Road Road Road Myrtle Myrtle Myrtle N Road N Road Thickson Thickson N N Thickson RoadN Road ThicksonRoad Thickson
1,550,088
Road Ridge Road Lake Lake Ridge Lake Road Road RidgeRoad Ridge LakeRidge Lake
1,550,088
Road Westney Westney Road Road Road WestneyRoad Westney
Office Inventory*
Trend
Road Brock Brock Road Brock Road Road BrockRoad Brock
Q4 2009
Line am Line am York-Durh York-Durh Line Line amLine am York-Durh York-Durham York-Durh
Q3 2009
Average Additional Rent
Q4-09
King King King Street Street StreetWest West West
Street Street Bayly Bayly Bayly Street Street Street BaylyStreet Bayly Bayly
55
10 10
kilometers kilom kilometers eters
L AK E ON T AR IO
AVAILABLE SPACE OPTIONS
Direct
Number of units on the submarket by size brackets
Sublease as % of Total Available
70,000
70%
60,000
60%
50,000
50%
40,000
40%
30,000
30%
20,000
20%
10,000
10%
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
3
8
4
2
1
0
# of units**
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q4 2009 TOP Office Lease Transactions by Size
0
Address
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Not Avail. Office Space
Tenant
Landlord
TOP Office Sale Transactions by Price Date
Address
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Sq. Ft.
No transactions were recorded during this period
0% Q3 2008
$30
Suite
Gross Rent
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES CATEGORIES
1,000,000
$27.02
900,000 $25
800,000 700,000 $21.50
600,000
$15
500,000 400,000
$10
200,000 100,000 -
$Class A
Class B
Professional Services 7%
Data,Publishing, Broadcasting Services 8% Manufacturing & Distribution 13%
300,000
$5
Finance 5%
Sq. Ft.
Gross Rent $/Sq. Ft.
$20
Class C
Public Service & Private Sector Services 66%
Others 1%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND
Net Rent $/sf. / Absorption (10,000's)
Asking Net Rent
Address
Vacancy Rate
$13.70
5.0%
13
4.5%
11
4.0%
9
3.5%
7
3.0%
5
2.5%
3
2.0%
1
1.1%
-1
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
1.5% 1.0%
-3
0.5%
-5
0.0%
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period SUBMARKET CHARACTERISTICS
Vacancy Rate
Absorption
15
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
* This submarket is part of Durham Region and therefore the most eastern office submarket of the GTA with considerably lower real estate costs than in more central areas in the GTA. * One of the smallest office submarkets with a very limited amount of space options for traditional office space users as key sectors in this area are advanced manufacturing, agribusiness, energy and tourism. * Area is home to large amount of skilled labour force. * Large supply of land resources offers up design-build opportunities. * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Scarborough Town Centre
Q4-09
SUBMARKET INDICATORS
4,066,877
13.4%
$12.32
DO DO
Eglinton Eglinton Eg linton lintonAvenue Avenue Avenue AvenueEast East East East Eglinton Eglinton Eg Avenue Avenue East East
St. St. St.Clair Clair Clair Avenue Avenue AvenueEast East East Avenue East
AVAILABLE SUPPLY SPLIT
TE TE
Sublease
Direct
Sublease as % of Total Available
00
9%
600,000
8% Square Feet
500,000
kilometers kilometers
AVAILABLE SPACE OPTIONS Number of units on the submarket by size brackets
6% 5%
300,000 200,000
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
68
15
8
12
3
0
# of units**
4%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
3%
RECENT TRANSACTIONS Q4 2009
2% 100,000
TOP Office Lease Transactions by Size
1%
0
0% Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Address
Suite
Sq. Ft.
Landlord
Tenant
305 Milner Ave
Suite 112
10,492
305 Milner Avenue Inc.
Business Development Bank of Canada
TOP Office Sale Transactions by Price
GROSS RENT & AVAILABILITY BY BUILDING BUILDING CLASS CLASS Avail. Office Space
Not Avail. Office Space
2,000,000
$23.95
$22.94
Address
Price
Vendor
Purchaser
1,600,000
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
1,000,000
$23.11
$23
Sq. Ft.
1,200,000
$23
Finance 16%
800,000
$23
Data,Publishing, Broadcasting Services 32%
600,000
$23
400,000
$23
200,000
$22
Professional Services 6%
-
Class A
Class B
Class C
Manufacturing & Distribution 4%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Others 4%
18 MONTH TREND Absorption
Asking Net Rent
Public Service & Private Sector Services 38%
Vacancy Rate
20.0%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
18.0%
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
16.0%
No construction took place during this period
13.4% $11.29
14.0% 12.0% 10.0% 8.0%
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
6.0% 4.0% 2.0% 0.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
$/PSF
1,400,000
$24
21 19 17 15 13 11 9 7 5 3 1 -1 -3 -5 -7 -9 -11 -13
Size
No transactions were recorded during this period.
1,800,000
$24
Gross Rent $/Sq. Ft.
Date
Gross Rent
$24 $24
LAKE ONTAR IO
88
7%
400,000
d ddd ad aa aa oa ooo Ro R R R nR nnn ton to to to gsssssto ggg ing in in in Kin K KK K
Danforth Danforth DanforthAvenue Avenue Avenue Danforth Danforth Danforth Avenue Avenue
44
10%
700,000
Morningside Morningside MorningsideAvenue Avenue Avenue Avenue Morningside Morningside Morningside Avenue Avenue
$15.43
*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. There are 60 office buildings surveyed in this submarket.
MarkhamRoad Markham Road Markham Road Markham Markham Road Road
Average Additional Rent
McCowan McCowan McCowan Road Road McCowanRoad McCowan McCowan Road Road Road
$11.29
Avenue PharmacyAvenue Avenue Pharmacy Avenue Pharmacy Avenue Avenue Pharmacy Pharmacy Pharmacy
$13.47
000 0111 440 aa ayyy 444 ay ay w way w w ig ighhhw ig H Hig ig H H H
401 Highway 401 Highway 401 Highway 401 Highway 401 Highway
DM DM
Average Asking Net Rent
ST ST
East East Avenue Avenue Sheppard Sheppard Sheppard East East East Avenue Avenue AvenueEast Sheppard Sheppard SheppardAvenue
MidlandAvenue Midland Avenue Avenue Midland Avenue Midland Midland Avenue
10.3%
CR CR
Finch Finch FinchAvenue Avenue Avenue AvenueEast East East East Finch Finch Finch Avenue Avenue East East
Birchmount Birchmount Birchmount Road Road BirchmountRoad Birchmount Birchmount Road Road Road
Vacancy Rate
(125,777)
PO PO
Do Don Do nnn nVa Do Do Va Valle lle lle lley lley lley lley yy yy y Pa lle lle Pa Parkw Pa Pa rkw rkway rkw rkw ay ay ay ay
(10,891)
Net Absorption
MA MA
Steeles Steeles SteelesAvenue Avenue AvenueEast East East Avenue East Steeles Steeles Steeles Avenue East
WS WS Highwa Hig Hig hway hw hw Hig Hig hwa ay ay hwa 404 404 404 yyy404 404 404
4,066,877
Trend
Avenue Avenue Warden WardenAvenue Warden Avenue Avenue Warden Warden
Q4 2009
Avenue Avenue Avenue Park Park ParkAvenue Avenue Avenue Victoria Victoria VictoriaPark Park Park Victoria Victoria Victoria
Office Inventory*
MAP OF SUBMARKET
Q3 2009
SUBMARKET CHARACTERISTICS *Compared to the City of Toronto as a whole, industry in Scarborough is similar in all labour force categories, save for manufacturing which is higher in Scarborough, and professional, scientific and technical services which are lower. *Submarket is well serviced by both public transportation and the 400 series highways. *Notable companies that have their headquarters in Scarborough include Toyota Canada Inc., Eli Lilly Canada Inc., Thomson Carswell, CTVglobemedia, Novopharm, Cinram, Honda Canada Inc., Royal Doulton, SKF, Alfa Laval, President's Choice Financial, Aviva, Yellow Pages, and Telus. * Submarket is home to the University of Toronto - Scarborough campus, as well as many other post-secondary campuses. * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Toronto East SUBMARKET INDICATORS
Q4-09 MAP OF SUBMARKET
Q3 2009
Q4 2009
YS YS
Trend
DO DO
East Avenue Clair East Clair East Avenue St. St. St. Avenue Clair St. Clair East Avenue St.Clair ClairAvenue East AvenueEast
Vacancy Rate
3.3%
3.6%
Average Asking Net Rent
$8.77
$8.77
Average Additional Rent
$14.97
$13.87
DN DN
00
Direct
Square Feet
Coxwell CoxwellAvenue Avenue Avenue Coxwell Avenue Coxwell Coxwell Avenue
Pape Pape Pape Avenue Avenue Pape Pape PapeAvenue Avenue Avenue Avenue
LAKE ONTARIO
Number of units on the submarket by size brackets
60%
60,000 50,000 40,000
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
21
5
0
4
0
0
# of units**
50%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
40%
RECENT TRANSACTIONS Q4 2009
30,000
30%
20,000
20%
10,000
10%
0
TOP Office Lease Transactions by Size Address
Suite
Q2 2009
Q3 2009
Q4 2009
Not Avail. Office Space
Date
Address
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period
Gross Rent
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES CATEGORIES
2,000,000
$25
Tenant
Landlord
TOP Office Sale Transactions by Price
0% Q1 2009
Sq. Ft.
No transactions were recorded during this period
GROSS RENT & AVAILABILITY BY BUILDING CLASS
1,800,000
$23.74
Finance 76%
1,600,000
$15
1,200,000
$10
800,000
1,000,000
Sq. Ft.
1,400,000
$20.43 Gross Rent $/Sq. Ft.
33
Sublease as % of Total Available
70,000
600,000 Data,Publishing, Broadcasting Services Others 0% 1% Manufacturing & Distribution 5%
400,000
$5
200,000 $-
Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND Absorption
Address
Vacancy Rate
8 3.6%
6
2
1.0%
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
-4
-1.0% -3.0%
-6 -8
-5.0%
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
SUBMARKET CHARACTERISTICS
5.0% 3.0%
4
-2
Professional Services 0%
No construction took place during this period
7.0%
Vacancy Rate
$8.77
10
Public Service & Private Sector Services 18%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Asking Net Rent
12
Net Rent $/sf. / Absorption (10,000's)
East Queen Street QueenStreet StreetEast East Queen Street East Queen Queen Street East East East East Boulevard Boulevard East East Lakeshore Lakeshore LakeshoreBoulevard Lakeshore Lakeshore Lakeshore
1.5 1.5
70%
$20
Road Road Road KingstonRoad Kingston Road Kingston Kingston Kingston
AVAILABLE SPACE OPTIONS
Sublease
Avail. Office Space
East East Street Street East Gerrard GerrardStreet Street East Gerrard Street East Gerrard Gerrard
kilometers kilometers
AVAILABLE SUPPLY SPLIT
Q4 2008
ST ST
Avenue Avenue Danforth Danforth Danforth Avenue Avenue Avenue Avenue Danforth Danforth Danforth
TE TE
DE DE
*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. There are 22 office buildings surveyed in this submarket.
Q3 2008
Bro BBB B roaaa ro dvvv ddd aad ieww ie vvie ie ie w wAA w AAvvvvveee nuuu nn nn een e eee uue
(3,886)
Bayview Bayview BayviewAvenue Avenue Avenue Avenue Bayview Bayview Bayview Avenue Avenue
YB YB
Don Don Don Valley Valley DonValley Don Don Parkw Parkw ValleyParkw Valley Valley ay ay Parkway Parkw Parkw ay ay ay
(16,228)
Net Absorption
1,337,300
Victoria Victoria VictoriaPark Park Park ParkAvenue Avenue Avenue Avenue Victoria Victoria Victoria Park Park Avenue Avenue
1,337,300
Avenue Avenue Donlands Donlands Avenue DonlandsAvenue Avenue Donlands Donlands
Office Inventory*
Avenue Woodbine Woodbine Avenue Woodbine Avenue Avenue WoodbineAvenue Woodbine
O'Connor O'Connor O'Connor Drive Drive Drive
*Submarket is primarily residential with extremely diverse areas such as GreekTown (Danforth), The Beaches, The Scarborough Bluffs, Chinatown East, Little India and The Portlands. *Area serviced by the Gardiner Expressway and the Don Valley Parkway on the Eastern border. Area is also serviced by the Bloor-Danforth Subway line, as well as multiple bus and streetcar routes allowing easy access to the Downtown and Financial Core. *Area will experience near-term economic benefits from Toronto's Waterfront redevelopment initiative, attracting new labour. *Construction of new Filmport facility will establish a film industry concentration on Toronto's waterfront. * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
COLLIERS INTERNATIONAL
High ghwa Hi Hi wayyyy 40 gh Hi wa gh 40444 wa 40 4 40
GTA WEST MARKET AND SUBMARKET BOUNDARIES
CALEDON
LEGEND Highway Main Road
407 407 407 Highway Highway Highway 407 407 407 Highway
Highw Highw Highway ay ay ay427 427 427 427 Highw Highw Highw ay ay 427 427
111000000 yyy444444111 waaaaaayyy w w w w hhhw Hiiiiggiigggghhh H H H H H
AE AE
Highway Highway Highway 401 401 401
AW AW AC AC
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401 401 ay ay hw hw 401 401 401 Hig Hig Hig ay401 ay ay hway hw hw Highw Hig Hig
MILTON
Municipal Boundary
TORONTO
DV D D D D VP V P P P P P
BR BR
GO Transit Submarket Boundary
H H H ig ig hw hw H H Hig ig ig ighw ay ay hw hw hway 40 40 ay ay ay 40 40 40 400 00 00 0
BRAMPTON
HB HB TW TW
Prepared By: Colliers International Research Department
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LAKE ONTARIO
Hig Hig Hig hwa hwa Highwa Hig Hig hwayyyyyy5 hwa hwa 5 55 55
00
55 kilometers kilometers
10 10
Our Knowledge is your Property 速 Colliers Macaulay Nicolls (Ontario) Inc., Brokerage and certain of its subsidiaries, is an independently owned and operated business and a member firm of Colliers International Property Consultants, an affiliation of independent companies with over 240 offices throughout more than 50 countries worldwide. This document has been prepared by Colliers International for advertising and general information only. Colliers International does not guarantee, warrant or represent that the information contained in this document is correct. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from.
Office Market Dashboard: GTA West
Q4-09
MARKET INDICATORS
MAP OF MARKET
(615,870)
78,539
Vacancy Rate
6.9%
7.2%
Average Asking Net Rent
$14.58
Average Additional Rent
BR BR
BU BU
OV OV
00
AVAILABLE SUPPLY SPLIT
AVAILABLE SPACE OPTIONS Sublease
Square Feet
10 10
20 20
QEW QEW QEW QEW QEW
444 4000 4 000111
4000 444 4 007 7 777
HB HB
CV CV
Number of units on the regional market by size brackets
Sublease as % of Total Available
50%
Total Available Office Space: 15285487 sf
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
351
177
96
73
16
13
45% # of units**
4,000,000
40%
3,500,000
35%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
30%
RECENT TRANSACTIONS Q4 2009
Available Sublease 21%
3,000,000 2,500,000
25%
2,000,000
20%
1,500,000Available Direct 79% 1,000,000
15% 10%
500,000
5%
0
0%
Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
TOP Office Lease Transactions by Size Address
Suite
Sq. Ft.
2495 Meadowvale Blvd
Suite A
36,843
5050 South Service Road
Suite 200
24,100
5600 Cancross Court
Suite A
23,787
Not Avail. Office Space
$30
Avail. Office Space
Gross Rent
Date 25,000,000
$27.29
12/18/2009
$24.30 $25
Tenant
Landlord
Hitachi Canada Stanley Canada Corporation Limited Frastacky Associates Invensys Systems Canada Incorporated Inc (Baymach Janit Jones Lang /Lasalle AECOM Crown Realty Partners
TOP Office Sale Transactions by Price
GROSS RENT & AVAILABILITY BY BUILDING CLASS
$21.33
12/10/2009
20,000,000
11/4/2009
$20 15,000,000 $15
Address
Price
6655, 6695, 6715 & 6725 Airport 5995Road Avebury
Road 7150 Mississauga Road
$49,195,000 $25,400,000 $19,200,000
5,000,000
$-
LaSalle Investment Management LaSalle
Purchaser
Size
$/PSF
Dundee REIT
329,955
$149
139,349
$182
85,000
$226
Insurance Investment Corporation of British Management Columbia Biovail Bentall Capital Pharmaceutic als Corp.
Data,Publishing, Broadcasting Services 9%
10,000,000 $10
$5
Vendor
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
Sq. Ft.
Gross Rent $/Sq. Ft.
MC MC
LAKE ONTARIO
kilometers kilometers
5,000,000 4,500,000
Road Road Stouffville Stouffville StouffvilleRoad Road Road Road Stouffville Stouffville Stouffville
AE AE
Way Way eth eth Way th Way th th Elizab Elizabeth Elizab Elizabe Elizabe Queen Elizabe Queen Queen
*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. There are 686 office buildings surveyed in this market.
Direct
AW AW AC AC
3 3 403 40 40
SW SW
407 407 407 407
444000 3 3 333
$10.67
HH HH
MV MV
H H Hig ig ig hhhw w waaa aaayyyyyy 55 55 5 5
$14.51
$10.59
401 401 401 401 401
4400 4 004 44
Net Absorption
444444000 0000
45,955,344
DVP DVP DVP DVP DVP DVP
45,765,831
4222 44 7 77 2277
Office Inventory*
Trend 410 410 410
Q4 2009
High Highway High way6 way High High 6 6 way 6 6
Q3 2009
Finance 19%
Class A
Class B
Manufacturing & Distribution 35%
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Professional Services 20%
18 MONTH TREND Absorption
Asking Net Rent
Others 3%
Vacancy Rate
Public Service & Private Sector Services 14%
9.0%
$14.51
13 11
7.2% 9
7.0%
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
2465 Argentia Road
First Gulf Corporation & Sun Life
250,000
BMO
Q1 2010
5550 Explorer
HOOPP
227,000
N/A
Q4 2010
2050 Derry Road West
Great West Life
125,700
Shaw Communications Inc.
Q1 2010
6.0%
7 5.0%
5 3
4.0%
1
3.0%
-1
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
8.0%
Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
2.0%
-3 -5 -7
Source: Colliers International, Q4 2009
1.0% 0.0%
Vacancy Rate
Net Rent $/sf. / Absorption (100,000's)
15
MARKET CHARACTERISTICS * Well connected to Lester B. Pearson International Airport; close commute to Hamilton's John C. Munro International Airport which is Canada's #1 freight airport. * Lower real estate costs than in the core (City of Toronto) * Great proximity to diversified suburban labour pool which is educated with 10 universities and 11 colleges within commuting distance. * Market area is home to 24.6% of the GTA office space and 43.5% of industrial inventory supported by a population of approximately 1.463 million. * Area is home to many top 100 companies, including: Deloitte & Touche LLP, Morguard Investments, and the Canadian headquarters of the Ford Motor Company. * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Airport Corporate Centre SUBMARKET INDICATORS
Q4-09
MAP OF SUBMARKET
Q3 2009
Q4 2009
Office Inventory*
5,540,147
5,540,147
Net Absorption
(287,672)
(28,011)
Vacancy Rate
10.5%
12.7%
Average Asking Net Rent
$15.33
$15.28
Average Additional Rent
$11.43
$11.65
Trend 40111 40 ay ay yyy 40 ay wa hw hw wa hw wa gh Hig Hig Hig gh High Hi Hi
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sssttttt EEEaaaaa dddEE rrd rrd aaarrd le levvvvvaa le le uuule BBooooo nnnnBBB n o o o sssssooo th theeeee th eee th th nnuuuuuee M Maaaaaa M M M eeeeennn AAAvvvvv rrrk rkkk rk aark maaa m yyym SSS Skkkkkyy S
dd aad oo oo oaa R Ro R ie ie ie ieRR ix ix ixie ix ix D D D D D Dix
AVAILABLE SUPPLY SPLIT
Highway 427 Highway 427 Highway 427 427 Highway Highway 427 Highway 427
sssttttt EEE Eaaaaass E uuueeeee eeennnnnuu AAA Avvvvvvee nnA tonnn to lililinnnnnto EEE Eggggglili E
AW AW
*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. There are 79 office buildings surveyed in this submarket.
AC AC
00
0.5 0.5
11
HB HB
kilometers kilometers
AVAILABLE SPACE OPTIONS
Sublease
Direct
Number of units on the submarket by size brackets
Sublease as % of Total Available
1,200,000
70%
Total Available Office Space: 15285487 sf
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
51
38
17
26
4
3
60%
# of units**
800,000
50%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
40%
RECENT TRANSACTIONS Q4 2009
Square Feet
1,000,000
Available Sublease 27%
600,000
20%
200,000 Available Direct 73% 0 Q3 2008
10%
Suite
2595 Skymark
Q1 2009
Q2 2009
Q3 2009
Q4 2009
$29.95
$30
Not Avail. Office Space
Gross Rent
Suite 110
TOP Office Sale Transactions by Price Address
Price
Vendor
Purchaser
Size
$/PSF
10/1/2009
5310 Explorer Drive
$15,625,000
Trangslobe
Ornge
72,924
$214
Data,Publishing, Broadcasting Services 7%
2,000,000
$20
1,500,000
$15
1,000,000 500,000
$-
Class A
Class B
Others 0%
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND Absorption
Asking Net Rent
Vacancy Rate
$15.28
15
12.7%
10
-5
12.0%
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
-10 -15
8.0% 6.0% 4.0%
-20 -25 -30
Public Service & Private Sector Services 11%
2.0% 0.0%
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
5550 Explorer Drive
HOOPP Realty Inc.
240,850
N/A
Q2 2010
SUBMARKET CHARACTERISTICS
10.0%
5
Professional Services 23%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE 14.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
20
Finance 16%
Manufacturing & Distribution 43%
$10 $5
Ontario Safety League
Date
$27.86
$25
5,776
Tenant
Landlord Polaris Realty (Canada) Limited Lord Realty Holdings
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
2,500,000
$23.49
Sq. Ft.
Sq. Ft.
Avail. Office Space
Gross Rent $/Sq. Ft.
Address
0% Q4 2008
GROSS RENT & AVAILABILITY BY BUILDING CLASS $35
TOP Office Lease Transactions by Size
30%
400,000
* Office Business Park with great highway accessibility and exposure allowing great signage opportunities * Provides state-of-the-art facilities to businesses seeking to locate near Pearson International Airport - proximity to Lester B. Pearson International Airport and an abundance of close-by hotels allow for easy corporate travelling * Lower real estate costs than in the core with just a 15 minute drive from downtown Toronto. * Top five employers are Accenture Inc., Bell Distribution, Carlson Marketing Group Canada, Chubb Security Systems, Citigroup and Emergis * Employess have access to 10 major universities and 11 technical colleges within commuting distance * Centennial Park south of Eglington Ave W offers close-by golfing at Centennial Park Golf Centre * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
Source: Colliers International, Q4 2009
Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Airport East MAP OF SUBMARKET Q4 2009
(7,707)
Vacancy Rate
16.7%
17.1%
Average Asking Net Rent
$13.66
$13.65
Average Additional Rent
$10.97
$10.77
401 401 401 Highway Highway 401 401 Highway Highway Highway
00
Square Feet
Available Sublease 16%
500,000 400,000
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
54
29
36
6
3
1
60%
# of units**
50%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
40%
RECENT TRANSACTIONS Q4 2009
600,000
TOP Office Lease Transactions by Size
30%
Available 300,000 Direct 84% 200,000
20%
Address
0
Suite
Date
Gross Rent
$28.36
Price
1,500,000
$15
Sq. Ft.
$20 Gross Rent $/Sq. Ft.
Purchaser
Size
$/PSF
Data,Publishing, Broadcasting Finance Services 8% 10%
2,000,000 $20.31
Vendor
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
2,500,000
$24.48
Address
No transactions were recorded during this period.
GROSS RENT & AVAILABILITY BY BUILDING CLASS Not Avail. Office Space
Tenant
Landlord
TOP Office Sale Transactions by Price
0% Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Sq. Ft.
No transactions were recorded during this period.
10%
100,000
Avail. Office Space
427 427 Highway Highway 427 Highway Highway 427
700,000
West West Avenue West Avenue Eglinton Eglinton EglintonAvenue Avenue West West West Avenue Eglinton Eglinton Eglinton
Number of units on the submarket by size brackets 70%
Total Available Office Space: 15285487 sf
$30
HB HB
AVAILABLE SPACE OPTIONS Sublease as % of Total Available
800,000
$25
66 vee riririvvvee D D Dri itititite eeeD te te aaate te tellllll S SS Saaa
900,000
33 kilometers kilometers
uuueee eeennn AAAvvv rrrkkk m maaa yyym SSSkkk
Direct
KH KH
AW AW
AVAILABLE SUPPLY SPLIT 1,000,000
AE AE
R R R R R Reeeeee xxxxxxddd dddaaaaaale le le le le leBBB BBBoooooouuu uuule le le le le levvvvvvaaa aaarrd rrd drrd dd
409 409 409 yy yy y 409 Highwa 409 Highway 409 Highwa Highwa Highwa
*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. There are 69 office buildings surveyed in this submarket.
Sublease
DF DF Road Road Grove Martin Martin Martin Grove Road Road GroveRoad Grove MartinGrove Martin Martin
(107,495)
427 427 427 yy yy y427 427 427 hwa hwa hway Hig Hig Highwa hwa hwa Hig Hig Hig
Net Absorption
BR BR dd dd aa aad oo ooa R R Ro R rtrt rtrtR oo ort pp ppo irir irirp A A Air A A
4,095,103
0 00 00 10 11 11 41 44 4
4,095,103
West West Avenue Steeles Avenue Steeles Steeles West AvenueWest West Avenue West Avenue Steeles Avenue Steeles Steeles
A Alb AA AA lb lb lbio lb lb io io ion io io nR nn nn R R Ro R R oa oo oo ad aa aa d dd dd
ayyyy aa aa wa w w w w hw hh hh ig ig igh ig ig Hig H H H H H
Office Inventory*
407 407 Highway Highway Highway 407
Trend
We We We ston ston Weston We We stonRoa ston ston Roa Roa Road Roa Roa d dd dd
Q3 2009
Hig Highwa Hig hwayyy Hig Hig hwa hwa y400 400 400 400
SUBMARKET INDICATORS
Q4-09
1,000,000 $10
Manufacturing & Distribution 40%
Professional Services 23%
500,000
$5
-
$Class A
Class B
Class C
Others 2%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Public Service & Private Sector Services 17%
18 MONTH TREND Absorption
Asking Net Rent
20
17.1%
Address
18.0% 16.0%
$13.65
10
12.0%
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
-10 -15 -20
10.0% 8.0% 6.0% 4.0%
-25
2.0%
-30
0.0%
Sq. Ft.
Anchor Tenant
Est. Com.
SUBMARKET CHARACTERISTICS
14.0%
5
Developer
No construction took place during this period.
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
15
-5
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Vacancy Rate
*Highly industrial area with great highway accessibility and exposure allowing great signage opportunities * Provides state-of-the-art facilities to businesses seeking to locate near Pearson International Airport - proximity to Lester B. Pearson International Airport and an abundance of close-by hotels allow for easy corporate travelling * Lower real estate costs than in the core with just a 15 minute drive from downtown Toronto. * Employess have access to 10 major universities and 11 technical colleges within commuting distance * Quick highway access to the North and West sides of the GTA * Close to large supply of affordable labour markets * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Airport West SUBMARKET INDICATORS
MAP OF SUBMARKET
4,482,287
Net Absorption
60,031
91,810
Vacancy Rate
3.9%
3.8%
Average Asking Net Rent
$12.21
$12.33
$8.89
AVAILABLE SPACE OPTIONS
AE AE
ssstttttt Eaaaaass EE EE E aaaddddd Roooooaa R RR R y y y rrrrrrryyy Deeeeerr D DD D
dd aa aa addd ooa R R R Rooo ieR ie ix ix ix ixie D D D D Dix
Average Additional Rent
BR BR H HH HH Hiiiigiigg ggghhhhhh w ww ww waaaaaa yyyyyy 444444000 000777777
4,392,287
Trend
777 427 427 427 ay 42 42 ay 42 hw ay hway Hig Hig hw Highw Hig Hig
Q4 2009
dd dd d aa aa ad ooa R R Roo oorrrrtttt R ppoo irirpp A A Airir A
Q3 2009
d dd dd ad aa aa oa oo oo Ro R R R R mR m m am aa aa m m brrrrrra bb bb orrrrrrb oo oo To TT TT T
Office Inventory*
Q4-09
$8.94
Number of units on the submarket by size brackets
# of units**
0 - 4k sf
31
4k - 10k sf
7
10k - 20k sf
3
20 - 50k sf
0
50k - 100k sf
0
100k sf +
0
AW AW
*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. There are 57 office buildings surveyed in this submarket.
350,000
Direct
Sublease as % of Total Available
33 33 003 4 44 44000 aa aayyyyy w w wa w w ig ig ighhh ig H H H H H Hig
Square Feet
50% 45%
300,000
40%
250,000
35%
200,000
30% 25%
150,000
20%
100,000
15%
00
11
HB HB
22
kilometers kilometers kilometers
TOP Office Lease Transactions by Size Address
Suite
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Date
Address
Avail. Office Space
Price
Data,Publishing, Broadcasting Services 8%
3,000,000
$/PSF
2,000,000
$20
$16.54 1,500,000
$15
Manufacturing & Distribution 39%
1,000,000
$10
500,000
$5 $-
Professional Services 12% Others 5%
Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Absorption
Address
Asking Net Rent
29
9.0%
24
8.0% $12.33
6.0% 5.0%
9 3.8%
4.0% 3.0%
-1 Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
2.0%
-11
1.0%
-16
0.0%
Vacancy Rate
7.0%
19
-6
Sq. Ft.
Anchor Tenant
Est. Com.
SUBMARKET CHARACTERISTICS
Vacancy Rate
34
4
Developer
No construction took place during this period.
10.0%
14
Public Service & Private Sector Services 14%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
18 MONTH TREND
Net Rent $/sf. / Absorption (10,000's)
Size
Finance 22%
Sq. Ft.
Gross Rent $/Sq. Ft.
2,500,000
$22.20
$25
Purchaser
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES CATEGORIES
Gross Rent
$23.07
$30
Vendor
No transactions were recorded during this period.
GROSS RENT & AVAILABILITY BY BUILDING CLASS Not Avail. Office Space
Tenant
Landlord
TOP Office Sale Transactions by Price
0% Q3 2008
Sq. Ft.
No transactions were recorded during this period.
5%
0
** Counting smallest divisible units in existing buildings and buildings under construction.
MC MC
RECENT TRANSACTIONS Q4 2009
10%
50,000
AC AC
ttt aaassssssttt EE EE Eaaa eeeE nnnuuuuuueee vvvvvveeeeeennn A A A AAA ttootoooonnnnnn in llin in in inttt gggllllin E EE EE Eggg
HH HH
Sublease
Highway Highway 427 Highway 427 427 427 Highway Highway 427
AVAILABLE SUPPLY SPLIT
ss ss ss s re re re ss ss pp re res xx pp pre E E xx xp 11 E Ex 00 11 1E 44 00 01 yy 44 40 aa yy y4 w w w aa ay hh w wa ig hh ig ig hw H H H ig igh H H Hig
* Submarket contains Lester B. Pearson International Airport and an abundance of close-by hotels allow for easy corporate travelling * Highly industrial area with great highway accessibility and exposure allowing great signage opportunities * Provides state-of-the-art facilities to businesses seeking to locate near Pearson International Airport * Lower real estate costs than in the core with just a 15 minute drive from downtown Toronto. * Employess have access to 10 major universities and 11 technical colleges within commuting distance * Quick highway access to the North and West sides of the GTA * Close to large supply of affordable labour markets * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Highway 427/Bloor-Islington
Q4-09
SUBMARKET INDICATORS
MAP OF SUBMARKET
Office Inventory*
4,453,719
4,453,719
Net Absorption
(61,011)
(18,783) 6.0% $13.11
West AvenueWest Eglinton Avenue West Avenue Eglinton Eglinton West West Avenue Avenue Eglinton
AC AC
HB HB
$14.57
West West West Bloor Street Bloor Street Street Bloor West West Bloor StreetWest Bloor Street Bloor Street
MC MC
*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. There are 70 office buildings surveyed in this submarket.
AVAILABLE SUPPLY SPLIT Sublease
Queensway Queensway Queensway The The The Queensway Queensway The The TheQueensway
Direct
Sublease as % of Total Available
450,000 400,000
Square Feet
CV CV
50% Total Available Office Space: 15285487 sf
45%
hh eettthh bbbbbee iz ziz iz iz zzaaaaa liiz EEllillilliz nn E n e e eeeee 00Q 1.5 1.5 QQ 1.5 Quuu
35%
300,000
Available Sublease 34%
250,000
33
Blvd W BlvdW W LakeShore ShoreBlvd W Lake Lake Shore Blvd W Blvd Lake Shore
kilometers kilometers kilometers
L A KE ONT A RIO
200,000
10%
50,000
5%
Available Direct 0 66% Q3 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Not Avail. Office Space
64
4k - 10k sf
27
10k - 20k sf
7
20 - 50k sf
1
50k - 100k sf
0
100k sf +
1
** Counting smallest divisible units in existing buildings and buildings under construction.
Suite
Sq. Ft.
Tenant
Landlord
TOP Office Sale Transactions by Price Date
Address
11/30/2009
4210 Dundas Street West
0% Q4 2008
0 - 4k sf
No transactions were recorded during this period.
15%
100,000
# of units**
TOP Office Lease Transactions by Size Address
20%
150,000
Number of units on the submarket by size brackets
RECENT TRANSACTIONS Q4 2009
30% 25%
AVAILABLE SPACE OPTIONS
Expressway Expressway Gardiner Expressway Gardiner Expressway
aaayyy W Waaa W W
40%
350,000
Price
Vendor
Purchaser
Size
$/PSF
$1,666,000
The Canadian Red Cross Society
Leemac Investments Limited
8,416
$198
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
Gross Rent
$35
2,500,000
$26.50
2,000,000
$18.96
$30.09
$25
Data,Publishing, Broadcasting Services 14%
1,500,000
$20 $15
Finance 21% Professional Services 20%
Sq. Ft.
$30
Gross Rent $/Sq. Ft.
TW TW Street Street Keele Street Keele KeeleStreet Street Keele
$11.59
40 40 1 11 401 40 40 y 40 wa wa yy gh way wa wa Hi Hi Hi ghwa gh High Hi Hi
JaneStreet Street Jane Street Jane Street Jane Street Jane Jane Street
Average Additional Rent
West West Avenue Avenue Lawrence West Lawrence Lawrence West Avenue AvenueWest LawrenceAvenue Lawrence Lawrence
Kipling Kipling Avenue Avenue Kipling Kipling Avenue Kipling Avenue Avenue KiplingAvenue
6.2% $12.67
KH KH
AE AE
Highway 427 427 Highway Highway 427 Highway
Vacancy Rate Average Asking Net Rent
401 Highway Highway 401
Trend
Royal Royal RoyalYork York YorkRoad Road Road York Road Royal Royal Royal York Road
Q4 2009
Islington IslingtonAvenue Avenue Avenue Avenue Islington Islington Avenue Islington
Q3 2009
1,000,000
$10 500,000
Manufacturing & Distribution 22%
$5 $-
Class A
Class B
Others 4%
Public Service & Private Sector Services 19%
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
18 MONTH TREND Absorption
Address
Vacancy Rate
$13.11
14
8.0%
12 10
6.0%
6.0%
8 6
4.0%
4 2
2.0%
-2
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
-4
0.0%
-6 -8
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period.
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Asking Net Rent
SUBMARKET CHARACTERISTICS * Less dense submarket between the Central Area of the GTA and the Suburban municipalities of Mississauga and Brampton. * Proximity to those denser areas, public transit lines (subway, GO Train, bus routes), access to several major highways routed through the submarket and proximity to the airport allows for easy in-and-out of the office and acceptable commutes for employees and customers. * Majority of the office building are located along Bloor Street and the Hwy 427 corridor and were built prior 1992. * Lower parking rates than in more dense office submarkets in the GTA. * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
-2.0%
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Brampton
2,357,538
9,471
Net Absorption
(20,005)
$4.26 00
*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. There are 28 office buildings surveyed in this submarket.
Square Feet
90,000
Sublease as % of Total Available
Number of units on the submarket by size brackets
90%
Total Available Office Space: 15285487 sf
80%
70,000
70%
60,000 Available Direct 50,000 100%
60%
40,000
40% 30%
Available Sublease 0%
20,000
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
19
4
0
1
1
1
# of units**
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q4 2009 TOP Office Lease Transactions by Size Address
20%
10,000
Suite
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Date
Address
Not Avail. Office Space
Gross Rent
$25
1,400,000 $17.64 $20.00
$15
Purchaser
Size
$/PSF
Data,Publishing, Broadcasting Services 50%
1,200,000 1,000,000 800,000
$10
Sq. Ft.
$15.99
Vendor
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
1,600,000
$20
Price
No transactions were recorded during this period.
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Tenant
Landlord
TOP Office Sale Transactions by Price
0% Q4 2008
Sq. Ft.
No transactions were recorded during this period.
10%
0
Gross Rent $/Sq. Ft.
0 - 4k sf
50%
30,000
Q3 2008
West West Avenue Avenue West Eglinton Eglinton Avenue West Avenue Eglinton West Avenue Eglinton Eglinton
AC AC
HH HH
40111 40 40 40 ay ay ay yyy 40 w w w wa wa gh ghwa gh Hi High gh Hi Hi Hi
100%
80,000
401 401 401 Highway 401 Highway 401 Highway Highway Highway
AW AW
AVAILABLE SPACE OPTIONS Direct
AE AE
dd dd d aa aa ad oo oo oa R R Ro R R ie ie ieR ie ie ix ix ixie ix ix D D D D D Dix
100,000
eee nnnuuuuuueee vvveeeeeennn Avvv AA AA sssA le le lesss le le eeeeeele te te te te te S Ste SS SS
10 10
kilometers kilometers
AVAILABLE SUPPLY SPLIT Sublease
55
777 00 00 0777 4440 aayyyyyy 444 w w w w waaa hh hh hw igh ig Hig H H
427 427 427 yy y 427 427 hwa hwa hway Hig Hig Highwa hwa hwa Hig Hig Hig
$12.02
Langstaff Langstaff Langstaff Road Road Road Road Langstaff Langstaff Langstaff Road
aad d ddd oaaa ooo Ro R oort rt rtrtrt iririrp pooo ppp A A A Airirir A
G G G Gu G G ue uu uu lp lp elp ee ee lph lp lp hS hh hh S S Str S S trtre ee ee ee ee etttttt ee
000 0 111 10 4441 aayyyyy44 w w w waa hhw ig ig ig ighh H H H H Hig
$5.21
eee iv iv vveee viv Drirrirrri D D D D D iririrdddddd irir aaair ooovvvvvvaaa BB B Booo BB
hh rt rtrtrt rthhh N N Noo N ddN oooa aaa addd R R R Rooo lilinnnR hh hlililinn gggh uuu uggg aau ccL LLL Laaa M M M M Mcc
Average Additional Rent
$12.42
2.0%
aaaddddd Roooooaa R R R R dddR forrrrrdd fo fo fo eeerrrrfo th th thee th Ruuuuu R R R R R
ttt eeeeeessssssttt W W W W W eeeeettttt trtrtreeeee SS Strtr nnSS eeeeeennn uuueeeee Q Q Q Q Quu
BR BR dd dd d aa aa ad oo oo oa R R Ro R R dd dd dyyyyyyR ee ee ed nn nn ne nn nn nn ee ee en KK KK Ke K
1.3%
Average Asking Net Rent
ddd oooaaaaaaddd R R R Rooo R R ld ld ld ld ld fififieeeeeeld aaaaaayyyyyyfififi M M M M M M
dd dd d aa aa ad oo oo oa R Ro R aa aa aR gg ga uu uu ug aaau is is isssssssaaa is is is is isssssssis is is M Mis M M rd rd aard rd rd levvvvvaaa le le le le uule oo oouuu B Bo B B ll B hhhilililililillll rc rc rc rc rc uu uu urc hhu C C C C Chh nnnC to to sssto to to tonnn in in in in insss W W W W W Win
Vacancy Rate
Trend
Keele Keele Keele Keel Keel Keel Stre Stre eeeStre Stree Stree Stree et et et ttt
2,357,538
aad d ddd ooaaa Ro R R rtRR ort rtrt rtrt poo irirp ppp A A A Airirir A
Q4 2009
d dd dd ad aa aa oa oo oo Ro R R R R aR aa aa lea le ale aa le le maa m m m ram ra ra ra Bra B B B B aaddd oaaa ooo Ro R R ie ieRR ix ix ix ixie D D D Dix D
Office Inventory*
MAP OF SUBMARKET
Q3 2009
Hig Hig Hig hwa hwa Hig Highwa hwa hwayyy 400 400 y 400 400
SUBMARKET INDICATORS
Q4-09
Finance 3%
600,000 400,000
$5
200,000 Manufacturing & Distribution 21%
-
$Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Others 0%
Public Service & Private Sector Services 22%
Professional Services 4%
18 MONTH TREND Absorption
Asking Net Rent
Vacancy Rate
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
2.5% $12.02
10
2.0%
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period.
2.0%
SUBMARKET CHARACTERISTICS 5
1.5%
-
1.0% Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
-5
0.5%
-10
0.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
15
* Small office submarket in size with a traditionally low vacancy rate.
* 3rd largest population agglomeration in the Greater Toronto Area. * Sectors of strength inlcude automotive, food&beverage, telecommunications, advanced machinery & equipment and consumer packaging. * This submarket offers immediate highway access (Hwy 400-series) and proximity to airport. * Brampton Transit's new project AcceleRide will bring rapid transit services to the community and connect with surrounding urban centres and commuter links. * Local post secondary college: Sheridan Institute of Technology and Advanced Learning 17 colleges and universities within a 80km radius. * Lower commercial tax rates than in the core (City of Toronto), competitive lease rates and land prices contribute to a business-friendly environment.
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Burlington SUBMARKET INDICATORS
Office Inventory*
Q4-09 MAP OF SUBMARKET
Q3 2009
Q4 2009
4,235,384
4,235,384
7.7%
6.4%
Average Asking Net Rent
$15.16
$14.82
Average Additional Rent
$9.61
$9.69
ettttt eee eeee SSStrtrtree asssssSS aaa dda nddd nn nn uun D D D Duuu D
tt aaassssssttt
Eaaa EE EE 33 33 3 ddE 00 00 03 4440 addd aaa oooa R R aaayyy444 R R R w w w w waaa insssss in in la la igighhhw la lainin P H H H Pla PPP H H Hig
Sublease as % of Total Available
AVAILABLE SPACE OPTIONS Number of units on the submarket by size brackets
Square Feet
30% 400,000
25% 20%
300,000
15%
200,000
10% 100,000
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
55
31
14
6
0
0
# of units**
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q4 2009 TOP Office Lease Transactions by Size
5% 0%
0 Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Address
1,709.00 20,358.00
$30
Gross Rent
Address
Price
Vendor
Purchaser
Size
$/PSF
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES Data,Publishing, Broadcasting Services 7%
1,400,000
$17.16
$15
1,000,000
Sq. Ft.
1,200,000
Finance 20%
800,000 $10
Professional Services 24%
600,000 400,000
$5
Manufacturing & Distribution 30%
200,000 $-
Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND Absorption
Others 4%
Public Service & Private Sector Services 15%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Asking Net Rent
Address
Vacancy Rate
$14.82 7.0% 10
6.4%
5
5.0% 3.0% 1.0%
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
-1.0%
-5 -3.0% -10
-5.0%
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction occurred during this period.
9.0%
15
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Pioneer Petroleums Limited Partnership
No transactions were recorded during this period.
1,600,000
$20
Decision Labs Inc.
Westbury International (1991) Corporation
1,800,000
$21.76 $25
Gross Rent $/Sq. Ft.
Date
2,000,000
$27.92
Tenant
Burloak No.3 Investment Limited
TOP Office Sale Transactions by Price Price
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Landlord
Sq. Ft.
1100 Burloak Dr. 1122 International Blvd.
Not Avail. Office Space
LAKE ONTAR IO
40% 35%
500,000
W W W W EEEW Q Q Q QEE Q
Direct
yyy aaaaaa W W W W W W
aaaaaddd Rooooo RRR R rrreeeee hhhooooorr eeessshh aakkkkkee LLLLLaaa
AVAILABLE SUPPLY SPLIT Sublease
hh tth thth eeetth aaabbbbbbeee lililizzz EE EE E E eeennnnn uuueeeee Q Q Q Q Quu
eeettttt trtrtreeeee SSStrtrtr w w w N Neee N
BU BU
*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. There are 78 office buildings surveyed in this submarket.
600,000
ee rivvvvee riri riri DDri akkkk DD aa aa oa oo oo rlrlrlo rlrl uu url BB Bu BB B
Vacancy Rate
ee e in in ine in in LLLin bb bb byyyyyyLLL le le leb le le pp pp ple pp pp pp AA Ap A
29,310 ee ee e in in ine in in LLLin rs rs rsLLL rs rs ee ers lk lk lke lk lk aa aa alk W Wa W W
(91,659)
OV OV
eee in in in inee Lin LL LL hhhL lp lp lp lphh uue eelp G Guu G
Net Absorption
777 444444000 aaayyy w w w w waaa hhhw ig ig H H Hig H H H
Trend
SUBMARKET CHARACTERISTICS * Located at the hub of the Golden Horseshoe with easy major highway access and close proximity to Hamilton's John C. Munro International Airport (Canada's number one freight airport) * Burlington's economy is largely driven by both the financial and the automotive sector * Resilient local economy that employs a variety of talent * Local post secondary college and university resources (e.g. McMaster University) are within commuting distance * Many head office operations, but also a competitive location for back office operations * Submarket will benefit from the development of the Metrolinx transportation plan and
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Cooksville SUBMARKET INDICATORS
Q4-09 MAP OF SUBMARKET
(22,832)
22,379
Vacancy Rate
6.6%
6.7%
Average Asking Net Rent
$14.54
$14.43
427 427 Highway Highway 427 Highway
Net Absorption
MC MC 333 44400033 tt yyyyy44 eesssttt w waaaaa w w w Weee W W W W ig ighhhhh ig ig aaaddddd HH Hig H H RR Roooooaa eeeRR ppeee ooorrrrrppp th thoo m mth m hhaaaaamm rn rn rn nnnhhh BBB Buuuuurrr B
eeettttt treeeeeeee trtrtr Str SSS S aaasssss nnndddddaa Duuuuunn D D D D D
CV CV
Average Additional Rent
$11.05
$11.16 00
Sublease
2.5 2.5
eee in in in inee L LLL Lin th th th th 9 99 99 9th
AVAILABLE SUPPLY SPLIT
Gardiner Expressway Gardiner Expressway Gardiner Gardiner Expressway Expressway
aayyyyy W Waaa hhW eeettttthhh aabbbbbee zzzzzaaa EEElilili nnnnn e e e e e eee Q Quuu Q Q Q
tt ssssssttt EEaaaaa dddEEE ooaaaaa R RRooo rrreeeeeeRR hhhhooooorr h s s s eee aakkkkkee LLLLLaaa
SW SW *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. There are 37 office buildings surveyed in this submarket.
HB HB
dd addd aaa oooa R Roo RR
1,814,322
ie ie ie ie ix ixie ix D D D Dixix D
1,814,322
dd aa aaddd ooa R R Rooo R ra ra raR ra th thra th th w wth w w aw C C Caaa C C
Office Inventory*
Trend
tt eee ettt eee trtrtr treee SSStr ooo oSSS riririo ta ta ta nnnta tariri ro ro ro uuro ronnn H H H H Huu
Q4 2009
ayyyy w waa w rk rkw rk aark PPaa ls ls ls ililills Mililil M nn M ririnnn riri Eri E EE EE
Q3 2009
LAKE ONTARIO
55
kilometers kilometers
W W EEE EW Q Q QE Q Q Q
AVAILABLE SPACE OPTIONS
Direct
Number of units on the submarket by size brackets
Sublease as % of Total Available
10% 140,000
9%
Square Feet
120,000
8% 7%
100,000
6% 80,000
0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
20
9
4
0
0
0
# of units**
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q4 2009
5%
60,000
TOP Office Lease Transactions by Size
4% 3%
40,000
Address
2% 20,000
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Date
Address
Not Avail. Office Space
Gross Rent
$28.90
$35 $29.02
900,000
Data,Publishing, Broadcasting Services 2%
$25
700,000
$20
600,000 500,000
$15
400,000
Sq. Ft.
800,000
$16.50
300,000
$10
Vendor
Purchaser
Size
$/PSF
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES CATEGORIES
1,000,000
$30
Price
No transactions were recorded during this period
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
Tenant
Landlord
TOP Office Sale Transactions by Price
0% Q3 2008
Sq. Ft.
No transactions were recorded during this period.
1%
0
Gross Rent $/Sq. Ft.
Suite
Finance 9%
Professional Services 15%
Manufacturing & Distribution 40%
200,000 $5
100,000
$-
Others 9%
Class A
Class B
Class C
Public Service & Private Sector Services 25%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND Absorption
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Asking Net Rent
16 14
$14.43
12 10.0% 10 6.7%
8 6
5.0%
4 2 0.0% -2
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period.
15.0%
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Address
Vacancy Rate
SUBMARKET CHARACTERISTICS * This submarket represents the southern portion centre of the City of Mississauga where high urban density is encouraged * Largely residential area with extensive park and golf course networks * Well connected to Highway 400 series and Lester B. Pearson International Airport * Availability of highway exposure sites * Lower real estate costs than in the core (City of Toronto) * Great proximity to diversified labour pool which is fueled by multiple residential condominum developments * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
-4
-5.0%
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Hurontario & Hwy 401
Q4-09
SUBMARKET INDICATORS
MAP OF SUBMARKET
Office Inventory*
3,208,828
3,208,828
Net Absorption
(72,794)
(29,505)
3.6%
4.5%
$13.98
$13.13
Average Additional Rent
$11.80
77 444000000 ayyyyyy waa w hhw ig ighh H Hig H
BR BR
ssstttttt eeeeeesss W W W W W W aaaddddd Rooooooaa R R ryyyRR eeerrrrrrr D DD Dee D
d oooa aa aa addd R R R Rooo R is isR is aaavvvvvis M M M M M Maaa
Vacancy Rate Average Asking Net Rent
uuueeeeee eeennnnnnuuu AA AA Avvvvvveee A le le lessssss le le le ete eeeeeeee te tte tte tte SS SS Ste S
Trend
$11.42
11 1 401 40 40 ay ay ay ay 40 ay hw hw hway ig ig hw ighw H ig Hig H
100% Total Available Office Space: 15285487 sf
350,000
90%
MV MV 00
111 22 kilometers kilometers kilometers
80%
300,000 Square Feet
Available Sublease 73%
250,000
70%
MC MC
50%
150,000
40% 30%
100,000
Q3 2008
Q4 2008
Q1 2009
Available Direct 27%Q3 2009 Q2 2009
0%
0 - 4k sf
15
4k - 10k sf
11
10k - 20k sf
5
20 - 50k sf
10
50k - 100k sf
7
100k sf +
2
** Counting smallest divisible units in existing buildings and buildings under construction.
TOP Office Lease Transactions by Size Address
Suite
5600 Cancross Court
Suite A
Sq. Ft.
Landlord
Tenant
23,787
Jones Lang Lasalle Crown Realty Partners
AECOM
TOP Office Sale Transactions by Price
Avail. Office Space
Not Avail. Office Space
Date
Address
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period.
Q4 2009
GROSS RENT & AVAILABILITY BY BUILDING CLASS
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
Gross Rent
$30
Data,Publishing, Broadcasting Services 5%
2,500,000 $24.53
$25
2,000,000
$20 1,500,000
$20.00 $15
Sq. Ft.
$24.78 Gross Rent $/Sq. Ft.
# of units**
10%
0
Manufacturing & Distribution 43%
Finance 31%
1,000,000 $10 500,000
$5 $-
Class A
Class B
Others 1%
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND Absorption
Asking Net Rent
7.0%
12
$13.13
10
3.0%
4 1.0%
2 -2
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
-4
-1.0% -3.0%
-6 -8
Vacancy Rate
4.5%
6
Professional Services 8%
Address
Developer
430 Courtneypark Dr E
Hallmark Design-Build
Sq. Ft.
Anchor Tenant
Est. Com.
48,439
Typhon Group Ltd
TBD
SUBMARKET CHARACTERISTICS
5.0%
8
Public Service & Private Sector Services 12%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Vacancy Rate
14 Net Rent $/sf. / Absorption (10,000's)
Number of units on the submarket by size brackets
RECENT TRANSACTIONS Q4 2009
20%
50,000
033333 444400
ttt eeesssst W We W uuueeee eeennnnuuu Avvvve nnnnAAA o o o t t t o o o to to to nnnttt ggglilililililinnn E EE EE Eggg
60%
200,000
3 33 03 00 40 44 yy 4 waay w hw ig ig ighh H Hig HH
Sublease as % of Total Available
dd dd d aa aa ad oo oo oa R R Ro R R nnnR hh hh hlilililililinnn gg gg gh uu uu ug aa aa au LLLa M M MccccccLLL M M M
Direct
ee ee etttttt ee ee ee trtr trtr tre SS S Str S oio ooS io ta ta tarrirrirriio nnnta ta ta ooonnn uu uu urro rro rro H H Hu H H H
tt sssssttt Weee W W W ddW aaaaaaddd Rooooo R R iaRR ia ia nnnnnnnnniaia n a a a itita Brrritrritit BBB B
dd ooaaaddd R R R R Rooo w w w w w ie ie ie iew ititvvvvvie ddd eeed dititit rre rrre re C C C C C
Sublease
400,000
AW AW
HH HH
*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. There are 38 office buildings surveyed in this submarket.
AVAILABLE SUPPLY SPLIT
AVAILABLE SPACE OPTIONS
dd d dd ad aa oaa oo oo Ro R R R ieR ie ie ie ixie ix ix ix ix Dix D D D D D
Q4 2009
00 110 4 aad ddd d 41 44 Roooaaa R R aayy wa w hw ddyyyyy R ig ig nneeeddd ighh H een nnn nnnn Hig HH K K K Keee K K
Q3 2009
* Submarket is part of a diverse business community which includes many Fortune 500 headquarters and leading clusters in aerospace, automotive, biomedical, financial services, and information & communications technologies. * Provides companies with solid infrastructure in the heart of a major air, road and rail network. * Well educated talent pool, there are 10 universities and 11 colleges within commuting distance. * Lower commercial tax rates than in the core (City of Toronto), competitive lease rates and land prices contribute to a business-friendly environment. * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
-5.0%
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property速
Office Submarket Dashboard: Mississauga City Centre SUBMARKET INDICATORS
Q4-09
MAP OF SUBMARKET
Vacancy Rate
5.5%
5.0%
Average Asking Net Rent
$16.88
$17.38
Average Additional Rent
$14.89
$15.17
HH HH
*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. There are 36 office buildings surveyed in this submarket.
AVAILABLE SUPPLY SPLIT Direct
00
Sublease as % of Total Available
500,000
20%
450,000
18%
400,000
16%
350,000
14%
ttt eeeeeessssssttt W W W W W dddW oooaaaaaaddd R R R Rooo R R ppeeeeee prrp rrp ooorrp th th th thooo th th m m m m m m a a a nnnhhhhhhaaa uuurrrrnrrnn B Buuu BB BB
SW SW
1.5 1.5
MC MC
Gardiner Gardiner Gardiner Expresswa Expresswa Expresswa
eeettttt treeeeeeee trtrtr Str SSS sssS ddaaaaass nnnnnddd Duuuuuu D D D D
33
kilometers kilometers kilometers
aayyyyy W Waaa W W W ttth thhh th th bbbbbeee zzzaaaaa EEE Elilililili E n n n n n ee eeeeeeee Q Q Quuuuu Q Q Q
CV CV
aa ayyyyy aa w wa w rk rk rk rkww aaa ark P PP Pa PP ls ls ililills ls ls M M M Milil ririnnnM E EE EE Eririri
Square Feet
Sublease
333 44400033 yyyyyy44 w waaaaa w w w ig ighhh ig ig H Hig H H H
ttt eeeeeessssssttt W W W W W eeeW nnnuuuuuueee vvveeeeeennn AA Avvv AA nnnA to to tonnn to to nnnnnnto li li li ggglilili EE E Eggg EE
AVAILABLE SPACE OPTIONS Number of units on the submarket by size brackets 0 - 4k sf
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
42
16
6
1
0
1
300,000
12%
250,000
10%
200,000
8%
** Counting smallest divisible units in existing buildings and buildings which are under construction.
150,000
6%
RECENT TRANSACTIONS Q4 2009
100,000
4%
50,000
2%
0
# of units**
TOP Office Lease Transactions by Size Address
0% Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
Suite
Not Avail. Office Space
Date
3,500,000 $33.03
$30
Landlord
Tenant
TOP Office Sale Transactions by Price
Gross Rent
$35
Sq. Ft.
No transactions were recorded during this period
GROSS RENT & AVAILABILITY BY BUILDING BUILDING CLASS CLASS Avail. Office Space
HB HB 427 427 427 Highway427 Highway Highway 427 427 Highway Highway Highway
(6,552)
sssttttt Eaaaaass EEE E aaaddddd Roooooaa R R R eeR rpeee rp rp rp rp thooooo th th th mth m m m aaaaam h h h rn rn rn rn Buuuuurn BBB B
aa aa add oo oo oa R R Ro R R ie ie ieR ie ie ix ixie ix ix D Dix D D D
21,244
ssstttttt EEEaaaaaasss eeeEEE nnnuuuuuueee vvveeeeeennn AA AA Avvv nnnnnnA to to to to to nnnto ggglilililililinnn E EE EE Eggg
dd oooaaddd R R R R Roo ra ra ra ra th th th thra w w wth w aaaw C C C Caa C
Net Absorption
tt eee ettt eee S Strtrtreee S ririo ooo oSS ta ta ta ta taririri nnnta ro ro uro ro ronn H H H H Huu
3,764,458
333 3 000 03 440 aayyyyy4 w w w waaa hhw ig ig ig ighhh H H H H Hig
3,764,458
AW AW
40111 40 40 y 40 yy 40 ay ay yy y wa wa w way wa ghw gh gh High Hi Hi gh Hi Hi Hi
d d ddd oaa ooo R Ro R is is isRR is aaavvvvvvis M M M Maa M
Office Inventory*
Trend
dd d aa add oo oaa R Roo R R nn nR hh hlililililin ghh uu ugg aa auu LL Laa ccLL M M Mccc M
Q4 2009
d dd dd ad aa aa oa oo oo Ro R R R R wR w w w w iew ie ie ie ie dititititititvvvvie dd dd red re re re re Cre C C C C C
Q3 2009
Address
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period
3,000,000
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES 2,500,000
$27.07
$20
2,000,000
$15
1,500,000
$10
1,000,000
$5
Sq. Ft.
Gross Rent $/Sq. Ft.
$25
Professional Services 26% Data,Publishing, Broadcasting Services 4%
500,000
$-
Class A
Class B
Finance 34%
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
Manufacturing & Distribution 14%
18 MONTH TREND Absorption
20
Asking Net Rent
Vacancy Rate
10.0%
Address
16
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
No construction took place during this period
14
8.0%
12 10
5.0%
2.0%
0.0%
Canada, Morguard Investments , Pepsi-QTG Canada,Personal Insurance Company of Canada/Certas Direct Insurance Company, Praxair Canada Inc., Resolve Corporation, Symcor Inc.
4.0%
4 2 Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Source: Colliers International, Q4 2009
SUBMARKET CHARACTERISTICS * This submarket represents the centre of the City of Mississauga where high urban density is encouraged * Well connected to Highway 400 series and Lester B. Pearson International Airport * Availability of highway exposure sites * Lower real estate costs than in the core (City of Toronto) * Great proximity to diversified labour pool which is fueled by multiple residential condominum developments e.g. Parkside Village by Amacon Developments * Top 10 Employers are Accenture, Baxter Corporation, Deloitte & Touche LLP, E D S
6.0%
8 6
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Public Service & Private Sector Services 19%
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
$17.38
18
-2
Others 3%
* Submarket will benefit from the development of the Metrolinx transportation plan MoveOntario 2020.
Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
and
Our Knowledge is your Property
Office Submarket Dashboard: Meadowvale SUBMARKET INDICATORS
Q4-09 MAP OF SUBMARKET
Q4 2009
Office Inventory*
6,504,176
6,603,689
Net Absorption
(91,838)
69,109
5.7%
6.1%
$15.63
$15.30
Average Additional Rent
$10.66
$10.53
MV MV
Sublease as % of Total Available
70%
Square Feet
500,000
60%
000
111 222 kilometers kilometers kilometers
Address
Date
Address
11/4/2009
7150 Mississauga Road
10% 0% Q4 2008
Q1 2009
Q2 2009
Q3 2009
Q4 2009
40
4k - 10k sf
16
10k - 20k sf
24
20 - 50k sf
17
w waa w w ig ighhh HHig
tttt eeessss W We dddW oaaaaaaddd 50k - 100k sf R Rooo eeeeRR p p p r r r p rrr thhth thhhhoooo tth th m mttt m haaaaa rrrnnnhhh 100k sf + BBB Buuuuuurrr B
SW SW
4 3
** Counting smallest divisible units in existing buildings and buildings under construction.
Sq. Ft.
Tenant
Landlord
TOP Office Sale Transactions by Price
20%
Q3 2008
0 - 4k sf
No transactions were recorded during this period
30%
0
ttt eeessssssttt Weee W W W W W uuueeeeee eeennnnnnuuu AAAvvvvvveee nnnnnAAA n o o o to to to tto t tto nnnto 333 3 ggglilililililinnn 44003 EE Eggg EE E aayyyy 44
Suite
200,000 100,000
# of units**
TOP Office Lease Transactions by Size
40%
300,000
Number of units on the submarket by size brackets
RECENT TRANSACTIONS Q4 2009
50%
400,000
th th th th th uu uu uth oo oo ou S SS So S ee ee ettttttS ee ee ee trtr trtr tre S SS Str S nn nn nS ee ee en ee ee ee uu uu ue Q Q Qu Q Q Q
Direct
600,000
eeesssttt W Weee W aaaddd RRRooo ia ia ia ia nnnnia n n n n n n ititaaaaa Brrrrrititit BBB B
aayyy w w waaa w kkkw rk rk rrk rrk rk PP Paaarrk ls ls ililills ls lsPP M M M Mililil in nin nnM rrin rd E E rrd rddd EE Erirriri vvva aaa arrd le le le levv uu uu ule oou B B B Booo ilillllB ccch hh hh hililill l rrc rrrc uuu urc hhu Chhh C nnnC to to to tonn in inssssssto in W W W W Winin
77 7 00 07 440 aa ayyy44 wa w hw ig ighh ig Hig HH
AVAILABLE SUPPLY SPLIT
HH HH
11 40 401 ay 40 ay ay hway hw ighw hw ig ig Hig H
ttt eeeeeessssssttt W W W W W dddW oooaaaaaaddd R R Rooo RR rryryyR eeeeeerrrrrrryryy D D D DD D
*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. There are 76 office buildings surveyed in this submarket.
Sublease
AVAILABLE SPACE OPTIONS
77 444444000077 aayyyyyy waa ww ww hhhw ig ighhh ig HHHig
dd dd aaad oo oo oaaa R Ro R w w w w wR ie ie ie ie iew ititvvvie dd ddititit eeed rrre re C C Crre C C
Vacancy Rate Average Asking Net Rent
Trend
dd ooa aaa addd R R R R Rooo is is is isR aavvvvvis M M M M M Maaa
Q3 2009
Price
Vendor
Purchaser
Size
$/PSF
$19,200,000
Biovail Pharmaceutica ls Corp.
Bentall Capital
85,000
$226
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
$30
Not Avail. Office Space
Gross Rent
$29.50
$29
Manufacturing & Distribution 54%
3,000,000 2,500,000
$27.03
$27
2,000,000
$26
$24.96
$25
Sq. Ft.
$28 Gross Rent $/Sq. Ft.
Data,Publishing, Broadcasting Services 5%
3,500,000
1,500,000
Finance 20%
1,000,000
$24
500,000
$23 $22
Others 1%
Class A
Class B
Class C
Professional Services 14%
Public Service & Private Sector Services 6%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Asking Net Rent
Vacancy Rate
20 18 16 14 12 10 8 6 4 2 -2 -4
$15.30 6.1%
Address 7.0% 5.0% 3.0% 1.0%
Q4 2008
Q1 2009
-6 -8 -10
Q2 2009
Q3 2009
Q4 2009
-1.0%
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
2465 Argentia Road
First Gulf Corporation & Sun Life
250,000
BMO
Q1 2010
2050 Derry Road West
Great West Life
125,558
Shaw Communications Inc.
Q2 2010
SUBMARKET CHARACTERISTICS Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Absorption
* Well connected to Highway 400 series and close to international airport * Great proximity to labour pool * Numerous major corporations have recently located their offices, factories and research & development facilities into this submarket (e.g. GE Canada Inc., Microsoft, RBC Financial Group) * Lower commercial tax rates than in the core (City of Toronto) * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
-3.0% -5.0%
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Oakville
Q4-09
SUBMARKET INDICATORS
MAP OF SUBMARKET Q4 2009
Office Inventory*
3,301,770
3,301,770
Net Absorption
36,385
39,763
Vacancy Rate
5.4%
ttt eessssstt W Weee W W W uuueeeee eeennnnnnuu AAAvvvvvee nnnnnAA to to to to nnnnto n li li li EEE Eggggglili E
Trend
OV OV eettttt eeeeeeee Strtrtr SSS sssS dddaaaaass nnnnnddd Duuuuu D DD D
5.0% $15.63
Average Additional Rent
$6.77
$7.85
BU BU 00
*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. There are 65 office buildings surveyed in this submarket.
40%
350,000
35%
300,000
30%
250,000
25%
200,000
20%
150,000
15%
100,000
10%
50,000
5%
0
0% Q1 2009
Q2 2009
Q3 2009
4k - 10k sf
10k - 20k sf
20 - 50k sf
50k - 100k sf
100k sf +
20
13
10
4
1
1
Not Avail. Office Space
Square Feet
TOP Office Lease Transactions by Size Address
Sq. Ft.
Tenant
Landlord
TOP Office Sale Transactions by Price Date
Address
Price
Vendor
Purchaser
Size
$/PSF
No transactions were recorded during this period OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES CATEGORIES Data,Publishing, Broadcasting Services 5%
1,800,000
$26.49
$29.04
Suite
No transactions were recorded during this period
2,000,000
1,600,000
$25
Finance 21%
1,400,000 1,200,000
$20
1,000,000 $15
$18.07
Professional Services 26%
Sq. Ft.
Gross Rent $/Sq. Ft.
RECENT TRANSACTIONS Q4 2009
Gross Rent
$35
800,000 600,000
$10
Manufacturing & Distribution 29%
400,000 $5
200,000
$-
Public Service & Private Sector Services 15%
Others 4%
Class A
Class B
Class C
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
18 MONTH TREND Absorption
Asking Net Rent
Vacancy Rate
23
12.0% 15
10.0%
11
8.0%
7
5.0%
3
6.0% 4.0%
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
-5
2.0% 0.0%
Address
Developer
Sq. Ft.
Anchor Tenant
Est. Com.
1315 North Service Road
LPF Realty Inc.
152,190
Liuna
Q2 2010
SUBMARKET CHARACTERISTICS
14.0% $15.63
19
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
** Counting smallest divisible units in existing buildings and buildings which are under construction.
Q4 2009
GROSS RENT & AVAILABILITY BY BUILDING BUILDING CLASS CLASS
-1
LAKE ONTAR IO
0 - 4k sf # of units**
$30
ddd ooaaaaadd RRooo R rrrrreeeee hhhooooo eeesssss aakkkkkee LLLLLLaaa
Number of units on the submarket by size brackets
400,000
Avail. Office Space
ttt eeeeeessssssttt W W W W W dddW oooaaaaaaddd R R R Rooo R rrreeeeeeR hhhhhhoooooorrr s s s kkkeeeeeesss LLLLLLaaaaaakkk
10 10
Sublease as % of Total Available
45%
Q4 2008
W W W W W EEEW Q Q Q QEEE Q Q
SW SW
AVAILABLE SPACE OPTIONS Direct
450,000
Q3 2008
aaaaaayyyy W W W W W W thth thh tth eeeth aaabbbbbbeee lililizzzzzzaaa E EE Elilili EE n n n eeennn uuueeeeeeeee Q Q Q Quuu
CV CV
kilometers kilometers
AVAILABLE SUPPLY SPLIT Sublease
55
ddd oooaaaaaaddd R RR RR Rooo le le le le le dddle id id id id id idddd M M M M M eeerrrrrrM pppppppppeee U UU UU Uppp
ee riri rivvvvvvee riri D Dri D D D aa akkkkkkD aa oo oa rlrl rlrl rlo uu uu url B B Bu B B B
$15.15
aaa addd ooa R R R R Roo te te te te nnte ro ro ro ron B BBB Bro
Average Asking Net Rent
77777 444444000 aayyyyy w waaa w ighhhhh ig ig ig H Hig H
d dd dd ad aa aa oa oo oo Ro R R R R arrrrrrR aa lga lg lg lg lg falg fa fa fa fa rafa ra ra ra ra Tra TT TT T
Q3 2009
* Lease rates and property taxes in this submarket are competitive with other suburban locations * High amenity business parks and highway exposure characterize much of Oakville's office space and development sites * Strong and diversified economic base with over 260 national and international corporate headquarters (e.g. Ford Motor Company of Canada, Limited, The TDL Group Corp.,) * High quality local work force as 58% of residents have a post secondary education - within a one-hour drive, Oakville workers/employers have access to eight universities and eight technical colleges for formal or continuing education * Fully serviced by passenger rail service to Union Station in Downtown Toronto * There are two International airports within 30 minutes of Oakville : Lester B. Pearson International Airport and Hamilton's John C. Munro International Airport (Canada's number one freight airport) * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our Knowledge is your Property
Office Submarket Dashboard: Sheridan
Q4-09
SUBMARKET INDICATORS
MAP OF SUBMARKET
Office Inventory*
2,098,099
2,098,099
Net Absorption
(7,697)
(63,269)
Vacancy Rate
5.0%
5.2%
Average Additional Rent
$10.36
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$14.66 $10.32 ttt eeeeeeett trrtr ttrttr ttrrreee SSS Str ssS aaaaasss nnnddddd D Duuuuu DD D
*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. There are 38 office buildings surveyed in this submarket.
OV OV
AVAILABLE SUPPLY SPLIT Sublease
Direct
00
200,000 Square Feet
4% 150,000
3%
100,000
2% 1%
50,000
-1% Q3 2008
Q4 2008
Q1 2009
Q2 2009
Q3 2009
Not Avail. Office Space
L A KE O NT A RI O
Number of units on the submarket by t asst E size brackets Ea add
# of units**
0 - 4k sf
13
4k - 10k sf
9
10k - 20k sf
6
20 - 50k sf
8
50k - 100k sf
0
100k sf +
0
oa R Ro
** Counting smallest divisible units in existing buildings and buildings under construction.
RECENT TRANSACTIONS Q4 2009 TOP Office Lease Transactions by Size Address
Suite
2265 Upper Middle Road E
Suite 101
Sq. Ft.
Landlord
Tenant
3,947
Westbury International 1991 Corporation
AMEC Inc
TOP Office Sale Transactions by Price Date
Address
Price
Vendor
Purchaser
Size
$/PSF
No transactions took place during this period.
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
Gross Rent
$35
2,000,000
1,800,000
$30 $21.85
1,400,000 1,200,000
$20
1,000,000 $15
600,000 400,000
$5
Manufacturing & Distribution 25%
200,000 -
$Class B
Professional Services 50%
800,000
$16.89 $10
Class A
Finance 11%
Sq. Ft.
$25
Data,Publishing, Broadcasting Services 5%
1,600,000
$30.75
Gross Rent $/Sq. Ft.
1.5 1.5 333 1.5 kilometers kilometers kilometers
Q4 2009
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
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0%
0
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6% 5%
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SW SW
Sublease as % of Total Available
250,000
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$14.71
AVAILABLE SPACE OPTIONS
MC MC
MV MV
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Average Asking Net Rent
Trend
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Q4 2009
77 7 00 07 440 aa ayyyy 44 ww wa hhw ighh H HH Hig
Q3 2009
Others 2%
Class C
Public Service & Private Sector Services 7%
Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.
18 MONTH TREND Absorption
TOP PROJECTS UNDER CONSTRUCTION BY SIZE Asking Net Rent
Address
Vacancy Rate
20
6.0%
5
3.0%
-
2.0% Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
-5
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
$14.66 4.0%
Anchor Tenant
Est. Com.
SUBMARKET CHARACTERISTICS
5.0%
10
Sq. Ft.
No construction took place during this period
5.2% 15
Developer
* Well connected to several 400 series highways (401, 427, 410, 409, 407) and Lester B. Pearson International Airport; close commute to Hamilton's John C. Munro International Airport which is Canada's #1 freight airport. * Availability of highway exposure sites with excellent signage opportunities. * Lower real estate costs than in the core (City of Toronto) * Great proximity to diversified suburban labour pool which is educated with 10 universities and 11 colleges within commuting distance, with Sheridan College located within the submarket.
1.0%
* Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020. -10
0.0%
Source: Colliers International, Q4 2009 Information contained herein has been obtained from the owners or 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. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available.
Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
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