Más contenido relacionado La actualidad más candente (20) Similar a Colliers toronto office leasing market report 2014 (20) Colliers toronto office leasing market report 20141. FALL 2013 | OFFICE
toronto ontario
COLLIERS INTERNATIONAL | MARKET REPORT
Greater Toronto Area Overview
MARKET INDICATORS
2013 Q2
*
2013 Q3
INVENTORY
NET ABSORPTION
VACANCY RATE
ASKING NET RENT
ADDITIONAL RENT
*change in comparison to previous quarter
www.colliers.com/toronto
*
Although The Greater Toronto Area office market has shown signs of softening, the
vacancy rate continues to decrease reaching record lows at 5.8 percent this quarter,
compared with 6.3 percent one year ago. The Downtown vacancy rate took a much
sharper decline, hitting an all-time low of 3.9 percent this quarter, compared with 5.1
percent at this time last year.
With the significant amount of new development on the horizon, most tenants are
trying to hit the 2016-2017 opportunistic window to renegotiate their leases or make
major real estate decisions, when vacancy is expected to near the double digits.
Many tenants who don’t have the luxury of renegotiating a lease in that time period
are trying to secure short-term extensions now in order to take advantage of that
ideal timeframe.
2. MARKET REPORT | FALL 2013 | OFFICE | TORONTO
Downtown
GTA Markets
Downtown Toronto continues to show strong
demand for office space with a very slight
change in the vacancy rate since last quarter.
The Financial Core is following a similar trend
showing a slight decline in vacancy from 4.6
percent to 4.4 percent, indicating that demand
is steady for office space in this submarket.
Tenants looking for space over 100,000 square
feet will find 5 opportunities in buildings that
are currently under construction compared
to 3 opportunities that are available in built
office properties. The 3 opportunities that are
presently being listed for built properties are a
result of Marsh Mercer and RBC pre-leasing
space in new builds. Marsh Mercer is leaving
161 Bay Street and 70 University Avenue to
relocate to 120 Bremner Boulevard which will
be completed in the third quarter of 2014.
GTA East
GTA North
Central East
Midtown
Downtown
Central North
LAKE ONTARIO
GTA West
$23.63
82,585
3.9%
DOWNTOWN
OFFICE
STATISTICS
Wgt Avg. Asking
Net Rent
Absorption 2013 Q3
Vacancy Rate
A major factor in the growth of office demand
within the Downtown core is largely due to
the growth of the Financial Services sector,
GTA | HISTORICAL PERFORMANCE & FORECAST | Q3 2003 - Q3 2014F
GTA
Net Absorption
Vacancy Rate
Asking Net Rent
25
25
FORECAST
20
15
15
10
10
5
5
-
(5)
3
4
1
2
3
2004
4
1
2
3
2005
(10)
P. 2
| COLLIERS INTERNATIONAL
4
1
2
3
2006
4
1
2
3
2007
4
1
2
3
2008
4
1
2
3
2009
4
1
2
3
2010
4
1
2
3
2011
4
1
2
3
2012
4
1
2
3
2013
4
1
2
3
2014
0
-5
-10
Asking Net Rent ($)/Vacancy Rate (%)
Net Absorption (100,000 SF)
20
3. MARKET REPORT | FALL 2013 | OFFICE | TORONTO
implementing the initial stages of The Big
Move project, a proposal to improve traffic
congestion and transit mobility as part of a
25-year, $50-billion regional plan.
which has been expanding even during the
Canadian economic recovery.
Construction has just begun at 351 King
Street East and 100 Adelaide Street West.
The Globe and Mail signed on as the lead
tenant to occupy 134,975 square feet of space
at 351 King Street East, now called the Globe
and Mail Centre. With Ernst & Young set to
occupy the top 10 floors as the lead tenant for
100 Adelaide Street West, the property name
has been changed to the E&Y Tower.
In the coming years we can expect to see
landlords of current builds focusing on
repositioning older assets to compete with
the challenges posed by new supply by either
spending capital on retrofitting older spaces
or reducing rental rates. The downtown
market continues to experience strong
business growth and positive absorption
which has resulted in historic vacancy lows
for the market. With the significant amount of
new supply on the horizon, it is expected that
vacancy rates will rise over the next several
years.
Demand has been driven by an arrival of
young professionals and residents into
the Downtown core, which is exhibited
by heavy construction in both residential
and commercial builds. With the continued
movement towards the core, infrastructure is
a major player in successfully accommodating
this growing urban landscape. The Premier
of Ontario and the Minister of Transportation
have committed $11.5 billion to begin
GTA DOWNTOWN | HISTORICAL PERFORMANCE & FORECAST | Q3 2003 - Q3 2014F
Downtown
Net Absorption
Asking Net Rent
Vacancy Rate
30
12
FORECAST
25
8
20
6
15
4
10
2
5
0
-2
3
4
1
2
3
2004
4
1
2
3
2005
4
1
2
3
2006
4
1
2
3
2007
4
1
2
3
2008
4
1
2
3
2009
4
1
2
3
2010
4
1
2
3
2011
4
1
2
3
2012
4
1
2
3
2013
4
1
2
2014
3
0
Asking Net Rent ($)/Vacancy Rate (%)
Net Absorption (100,000 SF)
10
-5
-4
-10
-6
-15
COLLIERS INTERNATIONAL |
P. 3
4. MARKET REPORT | FALL 2013 | OFFICE | TORONTO
Midtown
The Midtown market continues to see low
vacancy rates, reaching 5.0 percent this
quarter. The Yonge and Bloor Class A office
submarket vacancy rate has climbed to 6.2
percent, moderately higher than the 4.0
percent reported twelve months ago. Average
net rental rates have dropped in Class A
office space listed at $24.58 this quarter, only
a slight decrease since last quarter.
build and 50 Bloor Street West, a condo and
commercial build, both still awaiting rezoning
approval from the City of Toronto.
With the flurry of condo development
happening in the Midtown market, landlords
can hope to see an increased focus on the
construction of new office space if demand
remains strong in the coming years.
Demand for residential space in Midtown
continues to drive developer interest in new
condo construction. One Bloor East, a mixeduse skyscraper which is currently under
construction, will deliver 75 storeys of condo
space as well as a proposed 100,000 square
feet of retail space to the market by December
2014. There have also been proposals for
two new developments in the midtown
market: Casa III, a 100,000 square foot office
$17.56
25,473
5.0%
MIDTOWN
OFFICE
STATISTICS
Wgt Avg. Asking
Net Rent
Absorption 2013
Vacancy Rate
MIDTOWN | HISTORICAL PERFORMANCE & FORECAST | Q3 2003 - Q3 2014F
Midtown
Net Absorption
Asking Net Rent
Vacancy Rate
20
FORECAST
Net Absorption (100,000 SF)
3
15
2
10
1
5
0
-1
3
4
1
2
3
2004
4
1
2
3
4
2005
1
2
3
2006
4
1
2
3
2007
4
1
2
3
2008
4
1
2
3
2009
4
1
2
3
2010
4
1
2
3
2011
4
1
2
3
2012
4
1
2
3
2013
4
1
2
3
2014
0
-5
-2
-3
-15
-4
P. 4
-10
-20
| COLLIERS INTERNATIONAL
Asking Net Rent ($)/Vacancy Rate (%)
4
5. MARKET REPORT | FALL 2013 | OFFICE | TORONTO
GTA North
The GTA North market continues to
experience positive absorption with just
over 55,000 square feet this quarter, a
significant portion of which was Toshiba’s
78,774 square foot relocation to 75
Tiverton Court in the Hwy 404/Hwy 407
submarket.
Just over 60,000 square feet will be added
to the total inventory of the GTA North
market as 191 Creditview Road is set to be
complete by the end of this year, which has
been entirely pre-leased.
$15.20
55,233
5.9%
GTA NORTH
OFFICE
STATISTICS
Wgt Avg. Asking
Net Rent
Absorption 2013 Q3
Vacancy Rate
GTA NORTH | HISTORICAL PERFORMANCE & FORECAST | Q3 2003 - Q3 2014F
GTA North
Net Absorption
Asking Net Rent
Vacancy Rate
5
FORECAST
25
20
3
15
2
10
1
5
0
3
4
1
2
3
2004
4
1
2
3
2005
4
1
2
3
2006
4
1
2
3
2007
4
1
2
3
2008
4
1
2
3
2009
4
1
2
3
2010
4
1
2
3
2011
4
1
2
3
2012
4
1
2
3
2013
4
1
2
3
0
Asking Net Rent ($)/Vacancy Rate (%)
Net Absorption (100,000 SF)
4
2014
-1
-5
-2
-10
COLLIERS INTERNATIONAL |
P. 5
6. MARKET REPORT | FALL 2013 | OFFICE | TORONTO
GTA East
The GTA East market didn’t experience
much activity this quarter, which is quite
typical of this market. The vacancy rate
continues to rise and several small suites
becoming vacant contributed to the
negative absorption this quarter. The GTA
East market still proves to be a popular
destination for those requiring an industrial
component in their space.
GTA EAST
OFFICE
STATISTICS
-112,272
Absorption 2013 Q3
$12.07
Wgt Avg. Asking
Net Rent
The vacancy rate posted a significant
rise settling at 10.6 percent this quarter,
continuing to have the highest vacancy rate
of all GTA markets. At just over 5.5 million
square feet, the smallest changes within
this market can greatly affect the overall
numbers. The GTA East market offers the
lowest asking net rental rates in the GTA,
average at $12.07 and $26.89 net and gross
(respectively).
10.6%
Vacancy Rate
GTA EAST | HISTORICAL PERFORMANCE & FORECAST | Q3 2003 - Q3 2014F
GTA East
Net Absorption
Net Asking Rent
Adjusted Vacancy Rate
4
FORECAST
20
15
2
10
1
5
0
3
4
1
2
3
2004
4
1
2
3
2005
4
1
2
3
2006
4
1
2
3
2007
4
1
2
3
2008
4
1
2
3
2009
4
1
2
3
2010
4
1
2
3
2011
4
1
2
3
2012
4
1
2
3
2013
4
1
2
3
0
2014
-1
-2
-10
-3
P. 6
-5
-15
| COLLIERS INTERNATIONAL
Asking Net Rent ($)/Vacancy Rate (%)
Net Absorption (100,000 SF)
3
7. MARKET REPORT | FALL 2013 | OFFICE | TORONTO
GTA West
With the recently awarded LEED-EB Gold
certification, Mississauga Executive Centre
has proven to be popular, with Element Fleet
Management taking 48,000 square feet at 4
Robert Speck Parkway, accounting for over
70 percent of the submarket’s total absorption
this quarter.
The GTA West market posted a high positive
absorption this quarter at 161,904 square
feet, with the Mississauga City Centre and
Meadowvale submarkets being the main
contributors.
This market continues to be the ideal location
for many tenants looking to locate in the
Suburban market. Recent large transactions
in the area include SNC Lavalin, Royal Sun
Alliance, Novartis Animal Health, Russell
Metals, West 49, Price Waterhouse Coopers
and several other companies looking to
locate or expand their offices in this desirable
location.
The Burlington submarket remains especially
tight with few planned developments on the
horizon, but added tenant demand for the
area. With no big block opportunities over
20,000 square feet, and only 1 building
added to the inventory since 2010, this
market will need to build some new supply
if it intends on keeping up with its GTA West
counterparts.
There were two new developments completed
this quarter in the Oakville and Meadowvale
submarkets, adding over 110,000 square feet
to the total inventory. There are quite a few
new developments in the pipeline set to be
completed in the next few quarters, roughly
adding a little over 800,000 square feet to
the GTA West office inventory, with about 25
percent already pre-leased.
$15.39
147,676
8.2%
GTA WEST
OFFICE
STATISTICS
Wgt Avg. Asking
Net Rent
Absorption 2013 Q3
Vacancy Rate
GTA WEST | HISTORICAL PERFORMANCE & FORECAST | Q3 2003 - Q3 2014F
GTA West
Net Absorption
Asking Net Rent
Adjusted Vacancy Rate
8
FORECAST
20
15
4
10
2
5
0
3
4
1
2
3
2004
4
1
2
3
2005
4
1
2
3
2006
4
1
2
3
2007
4
1
2
3
2008
4
1
2
3
2009
4
1
2
3
2010
4
1
2
3
2011
4
1
2
3
4
2012
1
2
3
2013
4
1
2
3
0
2014
-2
-5
-4
-10
-6
Asking Net Rent ($)/Vacancy Rate (%)
Net Absorption (100,000 SF)
6
-15
COLLIERS INTERNATIONAL |
P. 7
8. MARKET REPORT | FALL 2013 | OFFICE | TORONTO
Central North
The Central North market experienced a slight decrease in
vacancy rates this quarter, posting positive absorption of
16,687 square feet compared to the negative 7,142 square feet
reported in the second quarter of 2013.
The North Yonge Corridor continues to be an extremely tight
market with a low vacancy rate at 2.9 percent. It continues
to post one of the higher average asking net rents for Class
A space at $21.43 per square foot. There are currently only
2 large block opportunities in the Central North market at 501
Alliance Avenue and 20 York Mills Road.
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CONTACT INFORMATION
Scott Addison
CENTRAL NORTH OFFICE STATISTICS
4.1%
Vacancy Rate
16,687
Absorption 2013 Q3
$16.64
Wgt Avg. Asking
Net Rent
President | Eastern Canada
+1 416 620 2800
scott.addison@colliers.com
John Arnoldi
Central East
The Central East market experienced a rise in vacancy this
quarter to 7.0 percent with a quarterly negative absorption of
170,978 square feet. The increase in the negative absorption
was caused mainly by ING Bank of Canada vacating their
space at 111 Gordon Baker Road and moving to 3389 Steeles
Avenue East. 111 Gordon Baker is currently the only option
in this market for an office tenant looking for space over
100,000 square feet.
Vacancy Rate
-170,978
Absorption 2013 Q3
$12.19
Wgt Avg. Asking
Net Rent
This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees,
representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content,
accuracy and reliability. 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. Colliers International is a worldwide affiliation of independently owned and operated companies. This publication is the
copyrighted property of Colliers International and /or its licensor(s). © 2013. All rights reserved. Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
www.colliers.com/toronto
Shawna Rogowski
Market Intelligence Manager
Toronto Region
+1 416 643 3764
shawna.rogowski@colliers.com
For more information on available
properties, additional research
reports, and our services please visit
www.collierscanada.com
CENTRAL EAST OFFICE STATISTICS
7.0%
Executive Managing Director
Toronto Region
+1 416 643 3733
john.arnoldi@colliers.com
+1 416 777 2200
Accelerating success.
9. Office Market Dashboard | Greater Toronto Area
Fourth Quarter 2013
Market Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
185,730,607
186,679,594
Net Absorption
44,404
301,755
Vacancy Rate
5.8%
6.0%
Availability Rate
8.7%
9.5%
Average Asking Net Rent
$17.41
$18.48
Average Additional Rent
$16.47
$16.54
Average Asking Gross Rent
$33.88
$35.02
24 Month Trend
Absorption
Vacancy Rate
1000
20
15
600
6.0%
400
10
5
0
200
-5
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
$18.48
Absorption (Thousands SF)
Inventory (SF)
25
800
-200
Inventory & Availability by Market
Average Net Rent
-15
New Developments Update
Midtown
17,803,716
10%
Downtown
70,291,319
38%
Central North
11,259,315
6%
GTA West
47,497,341
25%
GTA East
5,574,625
3%
GTA North
15,492,134
8%
Availability (SF)
Completed - 191 Creditview Road, Q4 2013 - 60,800 SF (Condor Properties)
Midtown
1,280,155
7%
Completed - MaRS Centre Phase 2, Q4 2013, 740,000 SF (Mars Discovery District)
Downtown
5,805,043
33%
Under Construction - 47% Leased - E&Y Tower, Q2 2017, 900,000 SF (Oxford)
Under Construction - 31% Leased - 351 King Street East, Q2 2016, 500,000 SF (First Gulf)
Central
North
565,507
3%
Under Construction, 82% Leased - RBC Waterpark, Q4 2014, 933,020 SF (Oxford)
Under Construction, 67% Leased - Bremner Tower, Q3 2014, 732,000 SF (GWL/bcIMC)
Under Construction, 70% Leased - Bay-Adelaide II, Q1 2016, 900,000 SF (Brookfield)
Central East
18,761,144
10%
GTA West
5,768,797
33%
Under Construction - The Hullmark Centre, Q1 2014, 185,000 SF (Hullmark/Tridel)
Under Construction - 100% Leased - 60 Standish Court, Q2 2015 (Orlando Corp.)
Under Construction, 50% Leased - 7025 Langer Drive, Q3 2014 (GWL)
Under Construction - 30% Leased - 3100 Rutherford Road
GTA East
570,902
3%
GTA North
1,646,605
9%
Under Construction - 43% leased - 1 Prologis Boulevard, Q1 2014 (HOOPP)
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or induce breach of an
existing listing agreement. Colliers Macaulay Nicolls (Ontario) Inc., Brokerage
Central East
2,005,522
12%
10. Office Market Dashboard | Downtown
Fourth Quarter 2013
Market Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
69,551,319
70,291,319
Net Absorption
82,585
550,248
Vacancy Rate
3.9%
4.1%
Availability Rate
6.9%
8.3%
Average Asking Net Rent
$23.88
$26.30
Average Additional Rent
$22.58
$23.05
Average Asking Gross Rent
$46.46
$49.34
MAP
Absorption
Vacancy Rate
1,200
Absorption (Thousands SF)
1,000
Average Net Rent
30
$26.30
25
800
20
600
15
400
10
4.1%
200
0
0
-200
-400
5
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
-600
2013
Q2
2013
Q3
2013
Q4
-5
-10
-15
Asking Net Rent ($) / Vacancy Rate (%)
24 Month Trend
Inventory & Availability by Market
Inventory (SF)
Downtown
East
4,123,136
6%
Financial Core
34,725,556
49%
Downtown
West
13,018,864
19%
New Developments Update
Downtown
North
14,744,415
21%
Completed - MaRS Centre Phase 2, Q4 2013, 740,000 SF (Mars Discovery District)
Downtown
South
3,679,348
5%
Under Construction - 47% Leased - E&Y Tower, Q2 2017, 900,000 SF (Oxford)
Under Construction, 82% Leased - RBC Waterpark, Q4 2014, 933,020 SF (Oxford)
Under Construction, 67% Leased - Bremner Tower, Q3 2014, 732,000 SF (GWL/bcIMC)
Availability (SF)
Under Construction, 70% Leased - Bay-Adelaide II, Q1 2016, 900,000 SF (Brookfield)
Under Construction - 27% Leased - 1 York Street, Q3 2016, 941,000 SF (Menkes/HOOPP)
Under Construction - 31% Leased - 351 King Street East, Q2 2016, 500,000 SF (First Gulf)
Market Profile
Financial Core
2,944,297
51%
TTC access via subway, LRT and bus routes.
Market amenities include underground PATH network connecting the Financial Core
submarket, brick & beam historic conversions and a number of major developments
planned for Toronto's waterfront.
Downtown
East
264,068
Downtown
5%
North
1,033,858
18%
Downtown
West
1,416,152
24%
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or induce breach of an
existing listing agreement. Colliers Macaulay Nicolls (Ontario) Inc., Brokerage
Downtown
South
146,668
2%
11. Office Market Dashboard | Midtown
Fourth Quarter 2013
Market Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
17,795,438
17,803,716
Net Absorption
25,473
4,623
Vacancy Rate
5.0%
5.0%
Availability Rate
5.8%
7.2%
Average Asking Net Rent
$17.75
$17.96
Average Additional Rent
$18.41
$17.43
Average Asking Gross Rent
$36.15
$35.39
MAP
24 Month Trend
Absorption
Vacancy Rate
Average Net Rent
25
$17.96
800
600
15
400
10
5.0%
200
0
-200
20
5
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-5
-400
-10
-600
-15
Asking Net Rent ($) / Vacancy Rate (%)
30
1,000
Absorption (Thousands SF)
1,200
Inventory & Availability by Market
Inventory (SF)
Yonge-Bloor
8,835,364
50%
Toronto West
1,423,817
8%
YongeEglinton
5,077,134
28%
Yonge-St.Clair
2,467,401
14%
New Developments Update
Planned - Casa III, 100,000 SF (Cresford)
Planned - 50 Bloor Street West, 40,000 SF for commercial use (Morguard)
Availability (SF)
Yonge-Bloor
441,885
35%
Market Profile
TTC access via subway, LRT and bus routes.
Market amenities include mixed-use nodes such as the Yonge/Bloor & Yonge/St. Clair
submarkets, as well as the Yonge/Eglinton submarket, identified as an urban growth
centre by the Ontario government.
Toronto West
106,148
8%
YongeEglinton
616,733
48%
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or induce breach of an
existing listing agreement. Colliers Macaulay Nicolls (Ontario) Inc., Brokerage
Yonge-St.Clair
115,389
9%
12. Office Market Dashboard | Central North
Fourth Quarter 2013
Market Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
11,259,315
11,259,315
Net Absorption
16,687
(23,521)
Vacancy Rate
4.1%
4.3%
Availability Rate
6.8%
5.0%
Average Asking Net Rent
$16.65
$17.69
Average Additional Rent
$16.71
$18.50
Average Asking Gross Rent
$33.36
$36.18
MAP
24 Month Trend
Absorption
Vacancy Rate
Average Net Rent
25
800
$17.69
600
15
400
4.3%
200
10
5
0
-200
20
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-5
-400
-10
-600
-15
Asking Net Rent ($) / Vacancy Rate (%)
30
1,000
Absorption (Thousands SF)
1,200
Inventory & Availability by Market
Inventory (SF)
North Yonge
Corridor
7,947,889
71%
Yorkdale
1,839,042
16%
Dufferin Finch
1,472,384
13%
New Developments Update
Under Construction - The Hullmark Centre, Q1 2014, 185,000 SF (Hullmark/Tridel)
Pre-lease - 4050 Yonge Street, 367,000 SF (Build Toronto)
Availability (SF)
Yorkdale
9,985
2%
Dufferin Finch
74,347
13%
Market Profile
TTC access via subway, LRT and bus routes.
Market amenities include a major office concentration around the North York Centre,
identified as an urban growth centre by the Ontario government.
North Yonge
Corridor
481,175
85%
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or induce breach of an
existing listing agreement. Colliers Macaulay Nicolls (Ontario) Inc., Brokerage
13. Office Market Dashboard | Central East
Fourth Quarter 2013
Market Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
18,761,144
18,761,144
Net Absorption
(170,978)
(34,445)
Vacancy Rate
7.0%
7.1%
Availability Rate
10.1%
10.7%
Average Asking Net Rent
$13.18
$13.60
Average Additional Rent
$15.04
$14.27
Average Asking Gross Rent
$28.22
$27.87
MAP
24 Month Trend
Absorption
Vacancy Rate
Average Net Rent
25
800
20
$13.60
600
400
7.1%
200
10
5
0
-200
15
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-5
-400
-10
-600
-15
Asking Net Rent ($) / Vacancy Rate (%)
30
1,000
Absorption (Thousands SF)
1,200
Inventory & Availability by Market
Inventory (SF)
Toronto East
1,969,581
14%
Don Mills Eglinton
5,040,885
35%
Woodbine
Steeles
4,992,031
35%
Duncan Mill
2,354,902
16%
New Developments Update
Pre-lease - Steeles Technology Campus Phase 3, 280,000 SF (Crestpoint)
Availability (SF)
Toronto East
100,317
8%
Don Mills Eglinton
266,515
21%
Market Profile
TTC access via subway, LRT and bus routes with GO Transit commuter rail access
through the Richmond Hill line.
Woodbine
Steeles
544,197
43%
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or induce breach of an
existing listing agreement. Colliers Macaulay Nicolls (Ontario) Inc., Brokerage
Duncan Mill
353,867
28%
14. Office Market Dashboard | GTA North
Fourth Quarter 2013
Market Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
15,431,334
15,492,134
Net Absorption
55,233
(40,441)
Vacancy Rate
5.9%
6.6%
Availability Rate
9.6%
10.6%
Average Asking Net Rent
$15.21
$15.61
Average Additional Rent
$12.01
$12.20
Average Asking Gross Rent
$27.23
$27.81
MAP
24 Month Trend
Absorption
Vacancy Rate
Average Net Rent
25
800
20
$15.61
600
15
400
10
6.6%
200
5
0
-200
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-5
-400
-10
-600
-15
Asking Net Rent ($) / Vacancy Rate (%)
30
1,000
Absorption (Thousands SF)
1,200
Inventory & Availability by Market
Inventory (SF)
Markham
Town Centre
3,071,571
20%
Vaughan
Hwy404Hwy407
9,086,581
59%
2,822,852
18%
Richmond Hill
511,130
3%
New Developments Update
Completed - 191 Creditview Road, Q4 2013 - 60,800 SF (Condor Properties)
Under Construction - 30% Leased - 3100 Rutherford Road, Q2 2014 64,769 SF
Under Construction - 7191 Yonge Street, Q1 2014 - 126,000 SF (Liberty Development Corp.)
Under Construction - 9131 Keele Street, Q2 2014 - 45,194 SF (Melrose Investments)
Availability (SF)
Under Construction - KPMG Tower, 2016 - 300,000 SF (Calloway REIT/SmartCentres)
Planned - 55 Allstate Parkway, 152,838 SF (M & R Holdings)
Markham
Town Centre
251,198
15%
Vaughan
320,415
20%
Planned - Galleria Corporate Centre, 97,718 SF (Times Group Corporation)
Planned - 80 Minthorn Court, 170,000 SF (Tanurb Development Inc.)
Market Profile
TTC access via LRT and bus routes with GO Transit commuter rail access through the
Lakeshore East and Stouffville lines.
Market amenities include Scarborough Town Centre, identified as an urban growth centre
Hwy404Hwy407
1,068,451
65%
by the Ontario government.
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or induce breach of an
existing listing agreement. Colliers Macaulay Nicolls (Ontario) Inc., Brokerage
Richmond Hill
6,541
0%
15. Office Market Dashboard | GTA East
Fourth Quarter 2013
Market Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
5,574,625
5,574,625
Net Absorption
(112,272)
(6,563)
Vacancy Rate
10.6%
10.7%
Availability Rate
13.4%
10.2%
Average Asking Net Rent
$12.13
$10.38
Average Additional Rent
$15.31
$13.08
Average Asking Gross Rent
$27.44
$23.46
MAP
24 Month Trend
Absorption
Vacancy Rate
Average Net Rent
25
800
20
600
$10.38
400
10
10.7%
200
5
0
-200
15
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-5
-400
-10
-600
-15
Asking Net Rent ($) / Vacancy Rate (%)
30
1,000
Absorption (Thousands SF)
1,200
Inventory & Availability by Market
Inventory (SF)
Pickering
Oshawa
1,767,559
32%
Scarborough
Town Centre
3,807,066
68%
New Developments Update
No new development updates at this time.
Availability (SF)
Scarborough
Town Centre
403,147
71%
Market Profile
TTC and VIVA bus networks service the GTA North market with GO commuter rail access
through Richmond Hill & Barrie lines.
Market amenities include the Vaughan Corporate Centre, designated an urban growth
Pickering
Oshawa
167,755
29%
centre by the Ontario government.
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or induce breach of an
existing listing agreement. Colliers Macaulay Nicolls (Ontario) Inc., Brokerage
16. Office Market Dashboard | GTA West
Fourth Quarter 2013
Market Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
47,357,432
47,497,341
Net Absorption
147,676
(148,146)
Vacancy Rate
8.2%
8.4%
Availability Rate
11.5%
12.1%
Average Asking Net Rent
$15.28
$14.88
Average Additional Rent
$13.01
$12.50
Average Asking Gross Rent
$28.29
$27.37
MAP
24 Month Trend
Absorption
Vacancy Rate
Average Net Rent
25
800
20
$14.88
600
8.4%
400
15
10
200
5
0
0
-200
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-5
-400
-10
-600
-15
Asking Net Rent ($) / Vacancy Rate (%)
30
1,000
Absorption (Thousands SF)
1,200
Inventory & Availability by Market
Inventory (SF)
8%
3%
7% 9%
Airport Corporate Centre - 5,684,524 SF
Airport East - 4,149,156 SF
8%
9%
Airport West - 3,748,485 SF
Brampton - 3,288,171 SF
10%
12%
Burlington - 4,347,554 SF
Cooksville - 1,507,502 SF
8%
7%
14%
Hwy 401 Hurontario - 3,804,277 SF
Hwy 427 Bloor-Islington - 4,643,284 SF
Mississauga City Centre - 3,864,298 SF
5%
Meadowvale - 6,757,166 SF
Sheridan Winston - 2,606,303 SF
New Developments Update
Oakville - 3,096,621 SF
Under Construction - 100% Leased - 7100 West Credit Ave - Q1 2014, 95,868 SF (Carttera)
Under Construction - 4080 Confederation Pkwy - Q1 2014, 60,000 SF (The Daniels Corp.)
Under Construction - 5015 Spectrum Way - Q3 2014, 134,000 SF (HOOPP)
Under Construction - 100% Leased - 60 Standish Crt - Q2 2014, 179,000 SF (Orlando Corp)
Under Construction - 52% Leased - 1006 Skyview Dr - Q3 2014, 36,339 SF (United Lands Corp.)
Under Construction - 40% Leased - 1300 Cornwall Rd - Q3 2014, 29,776 SF (Melrose Investments)
Availability (SF)
Under Construction - 25% Leased - 209 Oak Park Blvd - Q1 2014, 80,000 SF
4%
Under Construction - 43% Leased - 1 Prologis Blvd - Q2 2015, 146,863 SF (HOOPP)
Airport Corporate Centre - 837,644 SF
Airport East - 1,309,416 SF
5%
23%
Market Profile
Airport West - 246,525 SF
8%
Brampton - 275,346 SF
TTC, VIVA, MiWay, Oakville Transit and Burlington Transit bus networks service the GTA
3%
West submarkets, and GO commuter rail access through Kitchener, Milton & Lakeshore
6%
West lines.
15%
7%
Market amenities include regional and international connections through Pearson
Mississauga City Centre.
9%
10%
3%
Cooksville - 191,663 SF
Hwy 401 Hurontario - 341,385 SF
Hwy 427 Bloor-Islington - 401,069 SF
7%
International Airport, as well as the Ontario government designated urban growth region,
Burlington - 461,964 SF
Mississauga City Centre - 521,726 SF
Meadowvale - 602,563 SF
Sheridan Winston - 158,681 SF
Oakville - 420,815 SF
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or induce breach of an
existing listing agreement. Colliers Macaulay Nicolls (Ontario) Inc., Brokerage
17. Office Submarket Dashboard | Downtown: Financial Core
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
34,725,556
34,725,556
Net Absorption
72,781
110,201
Vacancy Rate
4.4%
4.1%
Availability Rate
7.2%
8.5%
Average Asking Net Rent
$27.34
$29.91
Average Additional Rent
$26.40
$27.26
Average Asking Gross Rent
$53.74
$57.17
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Absorption
Vacancy Rate
Average Net Rent
$29.91
Thousands (SF)
400
20
200
10
4.1%
0
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-200
-10
-400
Asking Net Rent ($) / Vacancy Rate (%)
30
Thousands (SF)
30,000
600
$62.47
25,000
20,000
15,000
5,000
$10.00
$0.00
0
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class B
8,000
$43.48
Thousands (SF)
$30.00
4,000
$20.00
2,000
$10.00
0
LEED Platinum development. The 100 Adelaide Street West tower is 47%
$0.00
2012
Q1
pre-leased with expected occupancy set for Q2 2017.
The Bay Adelaide Centre Phase II East Tower, a 900,000 SF development
$50.00
$40.00
6,000
Oxford Properties continues construction at the E&Y Tower, a 900,000 SF
$60.00
$50.00
$40.00
$30.00
$20.00
10,000
-20
New Developments Update
$70.00
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class C
by Brookfield, is continuing construction with 70% pre-leased and Deloitte
$40.19
3,000
as the lead tenant. The completion date has been set for Q1 2016.
Thousands (SF)
2,500
$50.00
$40.00
2,000
$30.00
1,500
$20.00
1,000
$10.00
500
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
18. Office Submarket Dashboard | Downtown: Downtown East
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
4,123,136
4,123,136
Net Absorption
6,097
12,192
Vacancy Rate
4.7%
4.4%
Availability Rate
5.9%
6.4%
Average Asking Net Rent
$18.36
$21.17
Average Additional Rent
$15.43
$14.55
Average Asking Gross Rent
$33.79
$35.72
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Vacancy Rate
30
$21.17
Thousands (SF)
400
20
200
4.4%
0
-200
10
0
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
600
2012
Q1
$46.88
Average Net Rent
Thousands (SF)
Absorption
1,600
1,400
1,200
1,000
800
600
400
200
0
$50.00
$40.00
$30.00
$20.00
$10.00
$0.00
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
2013
Q3
Class B
$31.38
2,500
-20
New Developments Update
First Gulf continues construction at The Globe and Mail Centre located at
2,000
Thousands (SF)
-400
$40.00
$30.00
1,500
$20.00
1,000
$10.00
500
0
351 King Street East. This 500,000 SF LEED Gold development has an
$0.00
2012
Q1
expected completion date set for 2016.
381 Richmond Street East, a planned 370,000 SF development, is
2013
Q4
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class C
awaiting a lead tenant before construction begins, with anticipated
1,000
Thousands (SF)
completion for 2016.
$40.00
800
$30.00
600
$20.00
400
$10.00
200
$0.00
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
19. Office Submarket Dashboard | Downtown: Downtown North
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
14,004,415
14,744,415
Net Absorption
(6,829)
365,155
Vacancy Rate
3.1%
5.5%
Availability Rate
4.8%
7.0%
Average Asking Net Rent
$17.99
$26.49
Average Additional Rent
$19.25
$20.47
Average Asking Gross Rent
$37.24
$46.96
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
600
$26.49
Thousands (SF)
400
20
200
5.5%
0
-200
30
10
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
-400
2013
Q2
2013
Q3
2013
Q4
-10
Thousands (SF)
Average Net Rent
Alexandria, MaRS and the Province of Ontario completed construction at
$60.00
$50.00
$40.00
$30.00
$20.00
$10.00
$0.00
2012 2012
Q3
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class B
-20
New Developments Update
$52.27
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
2012 2012
Q1
Q2
Thousands (SF)
Vacancy Rate
Asking Net Rent ($) / Vacancy Rate (%)
Absorption
7,000
6,000
5,000
4,000
3,000
2,000
1,000
0
MaRS Centre Phase II which has brought 740,000 SF of new office
$38.81
$40.00
$30.00
$20.00
$10.00
$0.00
2012
Q1
inventory to the Downtown North market.
$50.00
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class C
3,000
$40.00
$32.83
Thousands (SF)
2,500
$30.00
2,000
1,500
$20.00
1,000
$10.00
500
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
20. Office Submarket Dashboard | Downtown: Downtown South
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
3,679,348
3,679,348
Net Absorption
12,105
16,557
Vacancy Rate
0.9%
0.4%
Availability Rate
4.1%
4.0%
Average Asking Net Rent
$22.16
$22.26
Average Additional Rent
$20.30
$20.34
Average Asking Gross Rent
$42.46
$42.60
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Absorption
Vacancy Rate
Average Net Rent
$45.92
$22.26
200
20
10
0.4%
0
-200
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
*No rent information is available for this quarter.
-400
-10
Oxford continues construction at RBC WaterPark Place. The 933,020 SF office
scheduled for completion in Q3 2014 with 67% of the building currently preleased.
$40.00
1,500
$30.00
1,000
$20.00
$10.00
$0.00
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
*No rent information is available for this quarter.
Class B
tower is 82% pre-leased and is scheduled for completion in Q3 2014.
GWL continues construction on Bremner Tower, the 732,000 SF office tower is
$50.00
2,000
0
-20
New Developments Update
$36.12
1,400
1,200
1,000
800
600
400
200
0
$20.00
$10.00
$0.00
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
*No rent information is available for this quarter.
Class C
Queen Quay Place I & II, a Hines mixed-use waterfront development, is
currently marketing 430,000 SF of office space to be completed by 2017.
$20.00
250
Thousands (SF)
Menkes and HOOPP, with an expected occupancy date set for Q3 2016.
$40.00
$30.00
300
Construction continues at 1 York Street, a 941,000 SF office tower developed by
$60.00
2,500
500
Thousands (SF)
Thousands (SF)
400
Asking Net Rent ($) / Vacancy Rate (%)
30
Thousands (SF)
3,000
600
200
150
$10.00
100
50
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
*No rent information is available for this quarter.
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
21. Office Submarket Dashboard | Downtown: Downtown West
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
13,018,864
13,018,864
Net Absorption
(1,569)
46,143
Vacancy Rate
4.0%
3.6%
Availability Rate
9.3%
10.9%
Average Asking Net Rent
$20.84
$20.30
Average Additional Rent
$18.90
$18.46
Average Asking Gross Rent
$39.74
$38.76
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Vacancy Rate
Average Net Rent
30
$20.30
Thousands (SF)
400
200
20
10
3.6%
0
-200
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
600
Thousands (SF)
Absorption
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0
$42.67
$40.00
$30.00
$20.00
$10.00
$0.00
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class B
10,000
-20
New Developments Update
Allied Properties continues construction at 134 Peter Street, Queen
$50.00
$38.16
8,000
Thousands (SF)
-400
$50.00
$40.00
6,000
$30.00
4,000
$20.00
2,000
$10.00
0
Richmond Centre West Phase I, a 299,178 SF office tower that is 18%
$0.00
2012
Q1
pre-leased with expected completion set for Q1 2015.
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class C
Thousands (SF)
2,000
$33.53
$40.00
1,500
$30.00
1,000
$20.00
500
$10.00
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
22. Office Submarket Dashboard | Midtown: Yonge-Bloor
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
8,835,364
8,835,364
Net Absorption
3,364
3,364
Vacancy Rate
3.5%
4.5%
Availability Rate
5.0%
5.0%
Average Asking Net Rent
$21.46
$21.46
Average Additional Rent
$19.14
$19.14
Average Asking Gross Rent
$40.60
$40.60
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Absorption
Vacancy Rate
Average Net Rent
$46.23
$21.46
Thousands (SF)
400
20
200
10
4.5%
0
-200
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
30
Thousands (SF)
3,000
600
2,500
$40.00
2,000
$30.00
1,500
$20.00
1,000
$10.00
500
0
$0.00
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
-20
Casa III, a 100,000 SF office building on Charles Street, is being
2013
Q4
$37.61
5,000
Thousands (SF)
New Developments Update
2013
Q3
Class B
6,000
-400
$50.00
$30.00
4,000
3,000
$20.00
2,000
$10.00
1,000
0
developed by Cresford.
$40.00
$0.00
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Morguard is marketing 50 Bloor Street West, a mixed-use building that
will bring 40,000 SF of office and retail space to the market.
Class C
Thousands (SF)
2,000
$33.72
$40.00
1,500
$30.00
1,000
$20.00
500
$10.00
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
23. Office Submarket Dashboard | Midtown: Yonge-St.Clair
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
2,467,401
2,467,401
Net Absorption
(685)
(685)
Vacancy Rate
3.4%
3.4%
Availability Rate
4.7%
4.7%
Average Asking Net Rent
$18.95
$18.95
Average Additional Rent
$20.38
$20.38
Average Asking Gross Rent
$39.33
$39.33
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Vacancy Rate
Average Net Rent
600
$18.95
Thousands (SF)
400
20
200
10
3.4%
0
-200
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
30
Thousands (SF)
Absorption
900
800
700
600
500
400
300
200
100
0
$41.36
$40.00
$30.00
$20.00
$10.00
$0.00
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class B
$37.78
2,000
-400
$50.00
$40.00
-20
New Developments Update
No new development updates at this time.
Thousands (SF)
1,500
$30.00
1,000
$20.00
500
$10.00
0
$0.00
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class C
Thousands (SF)
250
$34.00
200
$40.00
$30.00
150
$20.00
100
$10.00
50
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
*No rent information is available for this quarter.
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
24. Office Submarket Dashboard | Midtown: Yonge-Eglinton
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
5,077,134
5,077,134
Net Absorption
(2,565)
(2,565)
Vacancy Rate
6.1%
6.1%
Availability Rate
12.1%
12.1%
Average Asking Net Rent
$15.38
$15.32
Average Additional Rent
$18.04
$17.17
Average Asking Gross Rent
$33.42
$32.49
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Absorption
Vacancy Rate
Average Net Rent
$36.97
Thousands (SF)
400
20
$15.32
200
6.1%
0
-200
10
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
30
Thousands (SF)
2,000
600
1,500
$30.00
1,000
$20.00
500
$10.00
$0.00
0
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
No new development updates at this time.
-20
2013
Q4
$33.88
2,500
Thousands (SF)
New Developments Update
2013
Q3
Class B
3,000
-400
$40.00
$40.00
$30.00
2,000
1,500
$20.00
1,000
$10.00
500
0
$0.00
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class C
Thousands (SF)
1,500
$29.06
$40.00
$30.00
1,000
$20.00
500
$10.00
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
25. Office Submarket Dashboard | Midtown: Toronto West
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
1,423,817
1,423,817
Net Absorption
4,509
4,509
Vacancy Rate
6.7%
6.7%
Availability Rate
7.5%
7.5%
Average Asking Net Rent
$12.03
$12.03
Average Additional Rent
$11.36
$11.36
Average Asking Gross Rent
$23.39
$23.39
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
This submarket does not contain any Class AAA or A buildings
Vacancy Rate
Average Net Rent
Thousands (SF)
400
20
$12.03
200
10
6.7%
0
-200
0
30
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
600
Thousands (SF)
Absorption
$10.00
0
0
0
0
$0.00
0
$0.00
2012 2012 2012 2012
Q1
Q2
Q3
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class B
600
New Developments Update
No new development updates at this time.
-20
$40.00
500
Thousands (SF)
-400
$23.53
400
300
$30.00
$20.00
200
$10.00
100
0
$0.00
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
*No rent information is available for this quarter.
Class C
1,200
$30.00
Thousands (SF)
1,000
$23.02
800
$20.00
600
400
$10.00
200
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
26. Office Submarket Dashboard | Central North: Yorkdale
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
1,839,042
1,839,042
Net Absorption
2,290
(1,872)
Vacancy Rate
1.2%
1.3%
Availability Rate
1.5%
0.5%
Average Asking Net Rent
$14.60
$12.50
Average Additional Rent
$17.25
$16.50
Average Asking Gross Rent
$31.85
$29.00
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Average Net Rent
30
Thousands (SF)
400
20
$12.50
200
10
1.3%
0
-200
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
-400
New Developments Update
No new development updates at this time.
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
600
Thousands (SF)
Vacancy Rate
400
350
300
250
200
150
100
50
0
$10.00
$0.00
2012 2012 2012 2012
Q1
Q2
Q3
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
*No rent information is available for this submarket.
Class B
-20
Thousands (SF)
Absorption
1,400
1,200
1,000
800
600
400
200
0
$40.00
$29.75
$30.00
$20.00
$10.00
$0.00
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class C
Thousands (SF)
400
$26.00
300
$30.00
$20.00
200
$10.00
100
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
27. Office Submarket Dashboard | Central North: Dufferin Finch
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
1,472,384
1,472,384
Net Absorption
7,970
(659)
Vacancy Rate
14.2%
14.3%
Availability Rate
16.9%
5.0%
Average Asking Net Rent
$11.90
$9.19
Average Additional Rent
$11.73
$11.44
Average Asking Gross Rent
$23.63
$20.63
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Average Net Rent
600
20
14.3%
200
10
$9.19
0
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
-400
New Developments Update
No new development updates at this time.
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
Thousands (SF)
400
-200
This submarket does not contain any Class AAA or A buildings $10.00
0
30
Thousands (SF)
Vacancy Rate
0
0
0
0
0
$0.00
2012 2012 2012 2012
Q1
Q2
Q3
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class B
-20
Thousands (SF)
Absorption
$24.35
1,400
1,200
1,000
800
600
400
200
0
$30.00
$20.00
$10.00
$0.00
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class C
Thousands (SF)
500
$30.00
400
$16.32
300
200
$20.00
$10.00
100
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
28. Office Submarket Dashboard | Central North: North Yonge Corridor
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
7,947,889
7,947,889
Net Absorption
6,427
(20,990)
Vacancy Rate
2.9%
3.2%
Availability Rate
6.2%
6.1%
Average Asking Net Rent
$20.49
$19.74
Average Additional Rent
$20.20
$20.11
Average Asking Gross Rent
$40.69
$39.85
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Vacancy Rate
Average Net Rent
$19.74
Thousands (SF)
400
20
200
10
3.2%
0
-200
7,000
30
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
600
Thousands (SF)
Absorption
$42.74
6,000
5,000
4,000
$40.00
$30.00
3,000
2,000
$20.00
$10.00
1,000
0
$0.00
2012 2012 2012 2012
Q1
Q2
Q3
Q4
2013
Q1
2013
Q2
-20
Hullmark and Tridel continue construction at 4789 Yonge Street, the
2013
Q4
$34.99
2,500
Thousands (SF)
New Developments Update
2013
Q3
Class B
3,000
-400
$50.00
$30.00
2,000
1,500
$20.00
1,000
$10.00
500
0
Hullmark Centre, a condominium and office tower complex. The
$0.00
2012
Q1
completion date has been set for Q1 2014 which will delivery 185,000 SF
$40.00
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
office space to the market.
Class C
Build Toronto is currently marketing for a lead tenant at 4050 Yonge
for 2016.
Thousands (SF)
Street, a 367,000 SF office development with anticipated completion set
350
300
250
200
150
100
50
0
$32.09
$40.00
$30.00
$20.00
$10.00
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
*No rent information is available for this quarter.
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
29. Office Submarket Dashboard | Central East: Don Mills - Eglinton
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
5,040,885
5,040,885
Net Absorption
5,044
(10,471)
Vacancy Rate
3.1%
3.3%
Availability Rate
4.3%
5.3%
Average Asking Net Rent
$11.64
$11.86
Average Additional Rent
$14.29
$13.50
Average Asking Gross Rent
$25.93
$25.36
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Absorption
Vacancy Rate
Average Net Rent
$29.26
Thousands (SF)
400
20
$11.86
200
10
3.3%
0
-200
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
30
Thousands (SF)
1,200
600
1,000
$30.00
800
$20.00
600
400
$10.00
200
$0.00
0
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class B
4,000
-400
$24.30
Thousands (SF)
No new development updates at this time.
$30.00
-20
3,000
New Developments Update
$40.00
$20.00
2,000
$10.00
1,000
0
$0.00
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Thousands (SF)
Class C
700
600
500
400
300
200
100
0
$30.00
$20.18
$20.00
$10.00
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
*No rent information is available for this submarket.
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
30. Office Submarket Dashboard | Central East: Duncan Mill
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
2,354,902
2,354,902
Net Absorption
15,714
(4,517)
Vacancy Rate
3.6%
3.8%
Availability Rate
13.9%
15.0%
Average Asking Net Rent
$9.42
$13.95
Average Additional Rent
$13.12
$13.68
Average Asking Gross Rent
$22.54
$27.63
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Absorption
Vacancy Rate
Average Net Rent
Thousands (SF)
400
20
$13.95
200
10
3.8%
0
-200
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
30
Thousands (SF)
600
600
$30.80
500
$30.00
400
$20.00
300
200
$10.00
100
$0.00
0
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class B
$27.48
2,000
-400
Thousands (SF)
No new development updates at this time.
$30.00
-20
1,500
New Developments Update
$40.00
$20.00
1,000
$10.00
500
0
$0.00
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class C
$27.10
Thousands (SF)
500
$30.00
400
$20.00
300
200
$10.00
100
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
31. Office Submarket Dashboard | Central East: Consumers Road
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
4,403,745
4,403,745
Net Absorption
7,041
(18,517)
Vacancy Rate
12.1%
12.6%
Availability Rate
16.7%
16.8%
Average Asking Net Rent
$13.13
$13.04
Average Additional Rent
$16.76
$16.30
Average Asking Gross Rent
$29.89
$29.34
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Absorption
Vacancy Rate
Average Net Rent
$31.79
Thousands (SF)
400
20
$13.04
200
10
12.6%
0
-200
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
30
Thousands (SF)
2,000
600
1,500
$30.00
1,000
$20.00
500
$10.00
$0.00
0
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
No new development updates at this time.
-20
2013
Q4
$26.50
$30.00
2,000
Thousands (SF)
New Developments Update
2013
Q3
Class B
2,500
-400
$40.00
$20.00
1,500
1,000
$10.00
500
0
$0.00
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class C
600
$23.39
Thousands (SF)
500
400
$30.00
$20.00
300
200
$10.00
100
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
32. Office Submarket Dashboard | Central East: Woodbine Steeles
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
4,992,031
4,992,031
Net Absorption
(192,548)
703
Vacancy Rate
9.8%
9.8%
Availability Rate
10.2%
10.9%
Average Asking Net Rent
$13.52
$13.76
Average Additional Rent
$14.35
$13.29
Average Asking Gross Rent
$27.87
$27.05
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Absorption
Vacancy Rate
Average Net Rent
Thousands (SF)
400
20
$13.76
200
10
9.8%
0
-200
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
30
Thousands (SF)
3,500
600
$29.72
3,000
2,500
2,000
$30.00
$20.00
1,500
1,000
$10.00
500
0
$0.00
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class B
$22.35
2,000
-400
$40.00
$30.00
-20
New Developments Update
Liberty One, a 400,000 SF development on Steelcase Road is still being
Thousands (SF)
1,500
$20.00
1,000
$10.00
500
0
marketed and awaiting a lead tenant before construction can begin.
$0.00
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class C
600
$20.01
Thousands (SF)
500
400
$30.00
$20.00
300
200
$10.00
100
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
33. Office Submarket Dashboard | Central East: Toronto East
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
1,969,581
1,969,581
Net Absorption
(6,229)
(1,643)
Vacancy Rate
2.1%
2.2%
Availability Rate
5.5%
5.1%
Average Asking Net Rent
$11.27
$18.59
Average Additional Rent
$17.94
$9.30
Average Asking Gross Rent
$29.21
$27.89
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Absorption
Vacancy Rate
Average Net Rent
Thousands (SF)
200
20
10
2.2%
0
-200
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
-400
New Developments Update
No new development updates at this time.
2013
Q2
2013
Q3
2013
Q4
-10
$10.00
250
200
150
100
50
0
$0.00
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
*No rent information is available for this submarket.
Class B
-20
Thousands (SF)
$18.59
400
Asking Net Rent ($) / Vacancy Rate (%)
30
Thousands (SF)
300
600
$29.32
1,400
1,200
1,000
800
600
400
200
0
$40.00
$30.00
$20.00
$10.00
$0.00
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class C
$25.79
600
$30.00
Thousands (SF)
500
400
$20.00
300
200
$10.00
100
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
34. Office Submarket Dashboard | GTA North: Vaughan
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
2,762,052
2,822,852
Net Absorption
23,253
9,603
Vacancy Rate
5.3%
7.0%
Availability Rate
9.9%
11.4%
Average Asking Net Rent
$17.46
$17.02
Average Additional Rent
$12.10
$12.25
Average Asking Gross Rent
$29.56
$29.28
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Absorption
Vacancy Rate
Average Net Rent
Thousands (SF)
400
20
$17.02
200
10
7.0%
0
-200
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
30
Thousands (SF)
1,000
600
$40.00
800
$34.19
$20.00
400
$10.00
200
$0.00
0
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class B
$28.08
2,000
-400
$30.00
600
$40.00
-20
New Developments Update
Condor Properties completed construction at 191 Creditview Road, adding
Thousands (SF)
1,500
$30.00
1,000
$20.00
500
$10.00
0
60,800 SF of fully leased space to the market. Melrose Investments has
$0.00
2012
Q1
begun construction at 9131 Keele Street. This 45,104 SF office
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
development has an expected occupancy date set for Q3 2014.
Class C
Construction is nearing completion at 7191 Yonge Street, a 126,000 SF
REIT has begun construction on the 300,000 SF KPMG Tower with 42%
of the building pre-leased to KPMG as the lead tenant. The completion
date has been set for 2016.
Thousands (SF)
office development, with expected occupancy set for Q1 2014. Calloway
700
600
500
400
300
200
100
0
$40.00
$22.97
$30.00
$20.00
$10.00
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
35. Office Submarket Dashboard | GTA North: Richmond Hill
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
511,130
511,130
Net Absorption
(1,958)
2,845
Vacancy Rate
2.5%
2.0%
Availability Rate
2.7%
1.3%
Average Asking Net Rent
$13.00
$13.00
Average Additional Rent
$12.67
$12.67
Average Asking Gross Rent
$25.67
$25.67
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Absorption
Vacancy Rate
Average Net Rent
20
$13.00
200
10
2.0%
0
-200
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
400
Thousands (SF)
30
Thousands (SF)
600
600
$30.00
500
400
$20.00
300
200
$10.00
100
$0.00
0
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
2013
Q3
*No rent information is available for this quarter.
Class B
$25.67
250
New Developments Update
No new development updates at this time.
-20
$30.00
200
Thousands (SF)
-400
2013
Q4
$20.00
150
100
$10.00
50
0
$0.00
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class C
Thousands (SF)
50
$40.00
40
$30.00
30
$20.00
20
$10.00
10
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
*No rent information is available for this quarter.
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
36. Office Submarket Dashboard | GTA North: Hwy404-Hwy407
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
9,086,581
9,086,581
Net Absorption
49,009
(11,919)
Vacancy Rate
6.2%
6.4%
Availability Rate
10.2%
11.8%
Average Asking Net Rent
$15.24
$15.66
Average Additional Rent
$12.22
$12.23
Average Asking Gross Rent
$27.47
$27.89
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Absorption
Vacancy Rate
Average Net Rent
$30.76
Thousands (SF)
400
$15.66
200
6.4%
0
20
10
0
2012
Q1
-200
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
30
Thousands (SF)
5,000
600
4,000
$30.00
3,000
$20.00
2,000
$10.00
1,000
$0.00
0
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
2013
Q3
-20
$27.42
575 Cochrane Drive, a 80,714 SF building by GWL Realty Advisors is in
$30.00
2,500
Thousands (SF)
New Developments Update
2013
Q4
Class B
3,000
-400
$40.00
2,000
$20.00
1,500
1,000
$10.00
500
0
the pre-leasing stage.
$0.00
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
55 Allstate Parkway is in the pre-leasing stage with M&R awaiting a lead
tenant before construction can begin on the 152,838 SF building.
Class C
2,000
$30.00
$20.93
Commerce Valley Drive.
Galleria Corporate Centre, a 38,662 SF development being marketed by
Times Development Corporation, is awaiting a lead tenant to begin
i
Thousands (SF)
Triovest is continuing to pre-lease a 156,000 SF, 8-storey building at 103
1,500
$20.00
1,000
$10.00
500
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
37. Office Submarket Dashboard | GTA North: Markham Town Centre
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
3,071,571
3,071,571
Net Absorption
(15,071)
(40,970)
Vacancy Rate
6.3%
7.6%
Availability Rate
8.7%
8.2%
Average Asking Net Rent
$13.04
$13.72
Average Additional Rent
$11.21
$12.00
Average Asking Gross Rent
$24.25
$25.72
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Absorption
Vacancy Rate
Average Net Rent
Thousands (SF)
400
20
$13.72
200
10
7.6%
0
-200
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
30
Thousands (SF)
2,000
600
$30.00
$27.28
$20.00
1,000
$10.00
$0.00
0
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
2013
Q4
Class B
$24.35
2,000
-400
2013
Q3
$30.00
-20
New Developments Update
Offices at Uptown Markham, a 380,000 SF office development is in the
Thousands (SF)
1,500
$20.00
1,000
$10.00
500
0
pre-leasing stage.
$0.00
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class C
$18.84
Thousands (SF)
400
$20.00
300
200
$10.00
100
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
38. Office Submarket Dashboard | GTA East: Scarborough Town Centre
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
3,757,066
3,807,066
Net Absorption
(55,393)
(20,119)
Vacancy Rate
11.2%
11.6%
Availability Rate
15.3%
10.6%
Average Asking Net Rent
$12.41
$9.58
Average Additional Rent
$15.98
$14.51
Average Asking Gross Rent
$28.39
$24.08
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Vacancy Rate
Average Net Rent
30
Thousands (SF)
400
20
11.6%
200
10
$9.58
0
-200
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
600
Thousands (SF)
Absorption
1,600
1,400
1,200
1,000
800
600
400
200
0
$40.00
$30.00
$20.00
$10.00
$0.00
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
2013
Q4
Class B
$24.50
2,000
-400
2013
Q3
No new development updates at this time.
Thousands (SF)
1,500
New Developments Update
$30.00
-20
$20.00
1,000
$10.00
500
0
$0.00
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Thousands (SF)
Class C
700
600
500
400
300
200
100
0
$30.00
$22.57
$20.00
$10.00
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
39. Office Submarket Dashboard | GTA East: Pickering Oshawa
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
1,767,559
1,767,559
Net Absorption
(56,879)
13,556
Vacancy Rate
9.5%
8.7%
Availability Rate
9.8%
9.5%
Average Asking Net Rent
$10.96
$10.81
Average Additional Rent
$11.00
$11.05
Average Asking Gross Rent
$21.96
$21.86
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Absorption
Vacancy Rate
Average Net Rent
$40.00
20
$10.81
200
10
8.7%
0
-200
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
-400
New Developments Update
No new development updates at this time.
2013
Q2
2013
Q3
2013
Q4
-10
$24.15
1,000
$30.00
800
$20.00
600
400
$10.00
200
$0.00
0
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
*No rent information is available this quarter.
Class B
-20
Thousands (SF)
Thousands (SF)
400
Asking Net Rent ($) / Vacancy Rate (%)
30
Thousands (SF)
1,200
600
$21.12
700
600
500
400
300
200
100
0
$30.00
$20.00
$10.00
$0.00
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class C
250
$20.00
Thousands (SF)
$13.79
200
150
$10.00
100
50
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
40. Office Submarket Dashboard | GTA West: Airport Corporate Centre
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
5,684,524
5,684,524
Net Absorption
(10,913)
38,816
Vacancy Rate
8.6%
8.0%
Availability Rate
11.2%
14.7%
Average Asking Net Rent
$15.00
$13.47
Average Additional Rent
$12.93
$12.43
Average Asking Gross Rent
$27.93
$25.91
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Absorption
Vacancy Rate
Average Net Rent
Thousands (SF)
400
20
$13.47
200
10
8.0%
0
-200
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
30
Thousands (SF)
3,000
600
$30.99
2,500
$30.00
2,000
$20.00
1,500
1,000
$10.00
500
$0.00
0
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
-20
Construction continues at 5875 Explorer Drive. 52,000 SF of office
2013
Q4
$24.04
$30.00
2,000
Thousands (SF)
New Developments Update
2013
Q3
Class B
2,500
-400
$40.00
$20.00
1,500
1,000
$10.00
500
0
space is set to be completed in Q1 2014.
$0.00
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
HOOPP continues construction at Spectrum Square Phase 1. The
134,000 SF development has a completion date set for Q3 2014.
Class C
$23.42
Thousands (SF)
2,000
1,500
$30.00
$20.00
1,000
$10.00
500
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
41. Office Submarket Dashboard | GTA West: Airport East
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
4,149,156
4,149,156
Net Absorption
(31,017)
(17,303)
Vacancy Rate
14.4%
14.8%
Availability Rate
29.2%
31.6%
Average Asking Net Rent
$13.31
$13.07
Average Additional Rent
$13.54
$12.90
Average Asking Gross Rent
$26.86
$25.97
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Absorption
Vacancy Rate
Average Net Rent
Thousands (SF)
400
20
$13.07
200
14.8%
0
-200
10
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
30
Thousands (SF)
1,200
600
$29.31
1,000
$30.00
800
$20.00
600
400
$10.00
200
$0.00
0
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
No new development updates at this time.
-20
2013
Q4
$25.77
$30.00
2,000
Thousands (SF)
New Developments Update
2013
Q3
Class B
2,500
-400
$40.00
$20.00
1,500
1,000
$10.00
500
0
$0.00
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class C
1,200
$30.00
Thousands (SF)
1,000
800
$20.00
600
$16.08
400
$10.00
200
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4
42. Office Submarket Dashboard | GTA West: Airport West
Fourth Quarter 2013
Submarket Snapshot
Q3 2013
Q4 2013
Trend
Office Inventory
3,748,485
3,748,485
Net Absorption
(20,070)
(23,519)
Vacancy Rate
3.3%
3.9%
Availability Rate
5.7%
6.6%
Average Asking Net Rent
$12.70
$10.23
Average Additional Rent
$12.61
$11.61
Average Asking Gross Rent
$25.31
$21.84
MAP
Available Supply Split & Gross Rent
Not Available Space
Sublease Available
Direct Available
Gross Rent
24 Month Trend
Class AAA/A
Absorption
Vacancy Rate
Average Net Rent
Thousands (SF)
400
20
$10.23
200
10
3.9%
0
-200
0
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
-10
Asking Net Rent ($) / Vacancy Rate (%)
30
Thousands (SF)
3,000
600
$40.00
2,500
$24.45
2,000
$20.00
1,500
1,000
$10.00
500
$0.00
0
2012 2012
Q1
Q2
2012 2012
Q3
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class B
$23.17
2,000
-400
$30.00
$30.00
-20
New Developments Update
Metrus Properties continues construction at 4980 Tahoe Boulevard, a
Thousands (SF)
1,500
$20.00
1,000
$10.00
500
0
202,000 SF building, with a delivery date set for 2014.
$0.00
2012
Q1
2012
Q2
2012
Q3
2012
Q4
2013
Q1
2013
Q2
2013
Q3
2013
Q4
Class C
Thousands (SF)
400
$30.00
$15.10
300
$20.00
200
$10.00
100
0
$0.00
2012 2012 2012 2012 2013
Q1
Q2
Q3
Q4
Q1
2013
Q2
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind,
expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. 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. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
2013
Q3
2013
Q4