gta office market dashboards q4 2009
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Office Market DashboardsColliers International | Greater Toronto Area Q4
2009
-
GREATER TORONTO AREA
Office Market Dashboards Q4 | 20091. GTA Regional
2. Downtown
3. Financial Core
21. Don Mills Eglinton
22. Hwy 404 & Hwy 407
23. Woodbine-Steeles
4. Downtown North
5. Downtown East
6. Downtown South
24. Markham
25. Pickering-Oshawa
26. Scarborough Town Centre
7. Downtown West
8. Midtown
9. Yonge-Bloor
27. Toronto East
28. GTA West
29. Airport Corporate Centre
10. Yonge-St.Clair
11. Yonge-Eglinton
12. GTA North
30. Airport East
31. Airport West
32. Hwy 427 /Bloor-Islington
13. Dufferin-Finch
14. North Yonge Corridor
15. Richmond Hill
16 V h
33. Brampton
34. Burlington
35. Cooksville
16. Vaughan
17. Yorkdale
18. GTA East
19 Consumer Road
36. Hurontario & Hwy 401
37. Mississauga City Centre
38. Meadowvale
19. Consumer Road
20. Duncan Mills
39. Oakville
40. Sheridan
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G T A O F F I C E M A R K E T A N D S U B M A R K E T B O U N D A R I E S
Highway
Main Road
LEGEND
C O L L I E R S I N T E R N A T I O N A L
is your PropertyOur Knowledge
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.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,
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
an affiliation of independent companies with over 240 offices throughout more than 50
for loss and damages arising there from.
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Prepared By:Colliers InternationalResearch Department
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Submarket Boundary
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REGIONAL INDICATORS MAP OF REGION
Q3 2009 Q4 2009 Trend
Office Inventory* 182,244,129 184,487,005
Net Absorption (588,231) 234,855
Vacancy Rate 5.9% 6.1%
Average Asking Net Rent $17.70 $16.20
Average Additional Rent $15.81 $14.53
AVAILABLE SPACE OPTIONS
AVAILABLE SUPPLY SPLIT
0 - 4k sf 4k - 10k sf 10k - 20k sf 20 - 50k sf 50k - 100k sf 100k sf +
# of units** 1588 651 347 289 30 25
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q4 2009
Suite Sq. Ft. Landlord
0 192,000Cadillac Fairview
Corporation
0 46,000Neamsby Investments
Inc
0 43,000Brookfield
Management
GROSS RENT & AVAILABILITY BY BUILDING CLASS Date Address Price Vendor Purchaser Size $/PSF
10/28/2009151 Front Street
West$180,000,000
Northam
Realty Advisors Allied Properties REIT 325,772 $553.00
*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 2075 office buildings surveyed in the GTA office region.
Q4-09
Number of units on the regional market by size brackets
Tenant
TOP Office Sale Transactions by Price
Office Region Dashboard: Greater Toronto Area
181 Bay Street Baker & Mckenzie
TOP Office Lease Transactions by Size
Address
N/A
CI Financial15 York Street
1490 Denison Street
Available Direct80%
Available Sublease20%
Total Available Office Space: 15285487 sf
80,000,000 $70
Avail. Office Space Not Avail. Office Space Gross Rent
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Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Sq
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Sublease Direct Sublease as % of Total Available
10/28/2009West
$180,000,000 Realty Advisors
Allied Properties REIT 325,772 $553.00
12/15/200977 Bloor Street
West$96,500,000
Cadillac
Fairview
Morguard
Investments Limited 370,306 $261.00
12/15/200960 Bloor Street
West$67,575,000
Cadillac
Fairview
Morguard
Investments Limited 255,727 $352.00
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
18 MONTH TREND
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Address Sq. Ft. Est. Com.
18 York Street 650,000 Q1 2011
2465 Argentia
Road 250,000 Q2 2010
15 York Street 207,000 Q1 2010
REGIONAL CHARACTERISTICS
Source: Colliers International, Q4 2009
N/A TBD
BMO
Cadillac Fairview
PricewaterhouseCoopers
First Gulf Corporation & Sun Life
Great West Life
Developer Anchor Tenant
Available Direct80%
Available Sublease20%
Total Available Office Space: 15285487 sf
$60.25
$31.84 $28.49
$23.52
-
10,000,000
20,000,000
30,000,000
40,000,000
50,000,000
60,000,000
70,000,000
80,000,000
$-
$10
$20
$30
$40
$50
$60
$70
Class AAA Class A Class B Class C
Sq. Ft.
Gross Rent $/Sq. Ft.
Avail. Office Space Not Avail. Office Space Gross Rent
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.
$16.20
6.1%
4.6%
4.8%
5.0%
5.2%
5.4%
5.6%
5.8%
6.0%
6.2%
-10
-5
-
5
10
15
20
25
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Vacancy Rate
Net Rent $/sf. / Absorption (100,000's)
Absorption Asking Net Rent Vacancy Rate
Manufacturing & Distribution
17%
Data,Publishing, Broadcasting Services 11%
Finance 27%
Professional Services 22%
Public Service & Private Sector Services21%
Others2%
* The GTA is Canada's largest urban economic region in terms of size in population, economy andoffice space.* Built on strong foundations that include world-renowned educational and health institutions, adiversity of internationally competitive sectors and clusters, and a highly-skilled, well-educated andgrowing population.* GTA includes the City of Toronto plus & surrounding regional municipalities, which are comprisedof 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 corporateheadquarters.
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252525252525252525 505050505050505050Queen Elizabeth Way
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407407
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Highway 48
Highway 48
Highway 48
Highway 48
Highway 48 Br ock Street
Br ock Street
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Br ock St reet
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Brock St reet
Brock St reet
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Br ock St reetHighway 9Highway 9Highway 9Highway 9Highway 9Highway 9Highway 9Highway 9Highway 9
Highway 6
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0%
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0
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20,000,000
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Sq
ua
re F
ee
t
Sublease Direct Sublease as % of Total Available
Our Knowledge is your Property
Available Direct80%
Available Sublease20%
Total Available Office Space: 15285487 sf
$60.25
$31.84 $28.49
$23.52
-
10,000,000
20,000,000
30,000,000
40,000,000
50,000,000
60,000,000
70,000,000
80,000,000
$-
$10
$20
$30
$40
$50
$60
$70
Class AAA Class A Class B Class C
Sq. Ft.
Gross Rent $/Sq. Ft.
Avail. Office Space Not Avail. Office Space Gross Rent
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.
$16.20
6.1%
4.6%
4.8%
5.0%
5.2%
5.4%
5.6%
5.8%
6.0%
6.2%
-10
-5
-
5
10
15
20
25
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Vacancy Rate
Net Rent $/sf. / Absorption (100,000's)
Absorption Asking Net Rent Vacancy Rate
Manufacturing & Distribution
17%
Data,Publishing, Broadcasting Services 11%
Finance 27%
Professional Services 22%
Public Service & Private Sector Services21%
Others2%
* The GTA is Canada's largest urban economic region in terms of size in population, economy andoffice space.* Built on strong foundations that include world-renowned educational and health institutions, adiversity of internationally competitive sectors and clusters, and a highly-skilled, well-educated andgrowing population.* GTA includes the City of Toronto plus & surrounding regional municipalities, which are comprisedof 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 corporateheadquarters.
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kilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometers
252525252525252525 505050505050505050Queen Elizabeth Way
Queen Elizabeth Way
Queen Elizabeth Way
Queen Elizabeth Way
Queen Elizabeth Way
Queen Elizabeth Way
Queen Elizabeth Way
Queen Elizabeth Way
Queen Elizabeth Way
QEW
QEW
QEW
QEW
QEW
QEW
QEW
QEW
QEW
401401401401401401401401401
427
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427
427
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427
427
427
427
407407407407407407407407407
400
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400 404
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404
404
404
404
404
404
404
410
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410
410
410
410
410
410
403
403
403403
403403
403
403
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401
401
401401
401401
401
401401
407
407
407407
407407
407
407407
Highway 48
Highway 48
Highway 48
Highway 48
Highway 48
Highway 48
Highway 48
Highway 48
Highway 48 Br ock Street
Br ock Street
Br ock Street
Br ock St reet
Br ock St reet
Brock St reet
Brock St reet
Brock St reet
Br ock St reetHighway 9Highway 9Highway 9Highway 9Highway 9Highway 9Highway 9Highway 9Highway 9
Highway 6
Highway 6
Highway 6
Highway 6
Highway 6
Highway 6
Highway 6
Highway 6
Highway 6
Highway 5Highway 5Highway 5Highway 5Highway 5Highway 5Highway 5Highway 5Highway 5
Highway 6
Highway 6
Highway 6
Highway 6
Highway 6
Highway 6
Highway 6
Highway 6
Highway 6 L A K E O N T A R I O
0%
5%
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15%
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25%
30%
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40%
45%
50%
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
18,000,000
20,000,000
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Sq
ua
re F
ee
t
Sublease Direct Sublease as % of Total Available
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.
-
D O W N T O W N M A R K E T A N D S U B M A R K E T B O U N D A R I E S
Highway
Main Road
LEGEND
C O L L I E R S I N T E R N A T I O N A L
is your PropertyOur Knowledge
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.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,
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000000000 0.50.50.50.50.50.50.50.50.5kilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometers
111111111
Univer sity A
ve nueU
niver sity Ave nue
Univer sity A
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niver sity Ave nue
Univer sity A
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niver sity Ave nue
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ve nueU
niver sity Ave nue
Univer sity A
ve nue
Gerrard Street EastGerrard Street EastGerrard Street EastGerrard Street EastGerrard Street EastGerrard Street EastGerrard Street EastGerrard Street EastGerrard Street East
Queen's Quay East
Queen's Quay East
Queen's Quay EastQueen's Quay East
Queen's Quay EastQueen's Quay East
Queen's Quay East
Queen's Quay EastQueen's Quay East
York Street
York Street
York Street
York Street
York Street
York Street
York Street
York Street
York Street
Adelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street West
Dundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street West
Queen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street West
Front Street WestFront Street WestFront Street WestFront Street WestFront Street WestFront Street WestFront Street WestFront Street WestFront Street West
Lake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard West
Dufferin S
treetD
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Dufferin S
treetD
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Dufferin S
treetD
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Dufferin S
treetD
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Dufferin S
treet
Ossington A
venueO
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Ossington A
venueO
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Ossington A
venueO
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Ossington A
venueO
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Ossington A
venue
Bloor Street WestBloor Street WestBloor Street WestBloor Street WestBloor Street WestBloor Street WestBloor Street WestBloor Street WestBloor Street West
Jarvis Street
Jarvis Street
Jarvis Street
Jarvis Street
Jarvis Street
Jarvis Street
Jarvis Street
Jarvis Street
Jarvis Street
Sherbourne S
treetS
herbourne Street
Sherbourne S
treetS
herbourne Street
Sherbourne S
treetS
herbourne Street
Sherbourne S
treetS
herbourne Street
Sherbourne S
treet
Church S
treetC
hurch Street
Church S
treetC
hurch Street
Church S
treetC
hurch Street
Church S
treetC
hurch Street
Church S
treet
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Bathurst S
treetB
athurst Street
Bathurst S
treetB
athurst Street
Bathurst S
treetB
athurst Street
Bathurst S
treetB
athurst Street
Bathurst S
treet
Spadina A
venueS
padina Avenue
Spadina A
venueS
padina Avenue
Spadina A
venueS
padina Avenue
Spadina A
venueS
padina Avenue
Spadina A
venue
Bay S
tree tB
ay Stree t
Bay S
tree tB
ay Stree t
Bay S
tree tB
ay Stree t
Bay S
tree tB
ay Stree t
Bay S
tree t
Yonge S
treetY
onge Street
Yonge S
treetY
onge Street
Yonge S
treetY
onge Street
Yonge S
treetY
onge Street
Yonge S
treet
Ave nu e R
oa dA
ve nu e Roa d
Ave nu e R
oa dA
ve nu e Roa d
Ave nu e R
oa dA
ve nu e Roa d
Ave nu e R
oa dA
ve nu e Roa d
Ave nu e R
oa d
College StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege Street
Dupont StreetDupont StreetDupont StreetDupont StreetDupont StreetDupont StreetDupont StreetDupont StreetDupont Street
Don
Val
ley
Par
kway
Don
Val
ley
Par
kway
Don
Val
ley
Par
kway
Don
Val
ley
Par
kway
Don
Val
ley
Par
kway
Don
Val
ley
Par
kway
Don
Val
ley
Par
kway
Don
Val
ley
Par
kway
Don
Val
ley
Par
kway
Gardiner ExpresswayGardiner ExpresswayGardiner ExpresswayGardiner ExpresswayGardiner ExpresswayGardiner ExpresswayGardiner ExpresswayGardiner ExpresswayGardiner Expressway
L A K E O N T A R I O
DNDNDNDNDNDNDNDNDN
DEDEDEDEDEDEDEDEDE
DSDSDSDSDSDSDSDSDS
FCFCFCFCFCFCFCFCFCDWDWDWDWDWDWDWDWDW
Prepared By:Colliers InternationalResearch Department
GO Transit
Submarket Boundary
-
MARKET INDICATORS MAP OF MARKET
Q3 2009 Q4 2009 Trend
Office Inventory* 68,543,864 70,597,227
Net Absorption 84,760 456,285
Vacancy Rate 5.1% 5.3%
Average Asking Net Rent $24.25 $21.38
Average Additional Rent $21.86 $19.34
AVAILABLE SUPPLY SPLIT
AVAILABLE SPACE OPTIONS
0 - 4k sf 4k - 10k sf 10k - 20k sf 20 - 50k sf 50k - 100k sf 100k sf +
# of units** 504 235 106 115 2 1
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q4 2009
Suite Sq. Ft. Landlord
0 192,000Cadillac Fairview
Corporation
GROSS RENT & AVAILABILITY BY BUILDING CLASS Suite 2100 43,000 Brookfield Management
Suite 1100 19,350Oxford Properties
Group Inc.
Q4-09
Number of units on the market by size brackets
Tenant
Baker & Mckenzie
Office Market Dashboard: Downtown
150 York Street Yamana Gold Inc.
*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.
TOP Office Lease Transactions by Size
Address
CI Financial15 York Street
181 Bay Street
30,000,000 $70
Avail. Office Space Not Avail. Office Space Gross Rent
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Sq
uare
Feet
Sublease Direct Sublease as % of Total Available
000000000 0.50.50.50.50.50.50.50.50.5 111111111
kilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometers
Queen Street EastQueen Street EastQueen Street EastQueen Street EastQueen Street EastQueen Street EastQueen Street EastQueen Street EastQueen Street East
Dundas Street EastDundas Street EastDundas Street EastDundas Street EastDundas Street EastDundas Street EastDundas Street EastDundas Street EastDundas Street East
Gerrard Street EastGerrard Street EastGerrard Street EastGerrard Street EastGerrard Street EastGerrard Street EastGerrard Street EastGerrard Street EastGerrard Street East
Bay Street
Bay Street
Bay Street
Bay Street
Bay Street
Bay Str eet
Bay Str eet
Bay Str eet
Bay Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
College StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege Street
Queen's Quay
East
Queen's Quay
East
Queen's Quay
EastQueen'
s Quay East
Queen's Quay
EastQueen'
s Quay East
Queen's Quay
East
Queen's Quay
East
Queen's Quay
East
King Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street West
Front Street West
Front Street West
Front Street WestFront Street West
Front Street WestFront Street West
Front Street West
Front Street WestFront Street West
Dundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street West
University Avenue
University Avenue
University Avenue
Uni versity Avenue
Uni versity Avenue
Univer sity Av enue
Univer sity Av enue
Univer sity Av enue
Uni versity Avenue
Gerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street West
Queen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street West
Lake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard West
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Spadina Avenue
Spadina Avenue
Spadina Avenue
Spadina Avenue
Spadina Avenue
Spadina Avenue
Spadina Avenue
Spadina Avenue
Spadina Avenue
Dufferin Street
Dufferin Street
Dufferin Street
Duf ferin Street
Duf ferin Street
Dufferin Street
Dufferin Street
Dufferin Street
Duf ferin Street
Bathurst Stree
tBathurst Stree
tBathurst Stree
tBathurst Stree
tBathurst Stree
tBathurst Stree
tBathurst Stree
tBathurst Stree
tBathurst Stree
t
Jarvis Street
Jarvis Street
Jarvis Street
Jarvis Street
Jarvis Street
Jar vis Street
Jar vis Street
Jar vis Street
Jarvis Street
Don Val ley Parkway
Don Val ley Parkway
Don Val ley Parkway
Don Vall ey Parkway
Don Vall ey Parkway
Don Vall ey Parkway
Don Vall ey Parkway
Don Vall ey Parkway
Don Vall ey Parkway
Gardiner Expressway
Gardiner Expressway
Gardiner ExpresswayGardiner Expressway
Gardiner ExpresswayGardiner Expressway
Gardiner Expressway
Gardiner ExpresswayGardiner Expressway
L A K E O N T A R I O
DSDSDSDSDSDSDSDSDS
FCFCFCFCFCFCFCFCFC
DNDNDNDNDNDNDNDNDN
DEDEDEDEDEDEDEDEDEDWDWDWDWDWDWDWDWDW
Suite 1100 19,350Group Inc.
Date Address Price Vendor Purchaser Size $/PSF
10/28/2009151 Front Street
West$180,000,000
Northam Realty
Advisors
Allied Properties
REIT 325,772 $553
12/21/200986 - 94 Berkeley
Street & 49
Ontario St
$16,800,000 Lasalle
Investment
Management
Whiterock REIT and
Return on
Innovation Capital
87,105 $193
12/15/200954 Berkeley
Street$3,820,000
Berkeley
Consulting
Limited
King Berkeley
Holdings Inc. 0 $0
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
18 MONTH TREND
TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Address Sq. Ft.
Est.
Com.
18 York Street 650,000 Q1 2011
15 York Street 207,000 Q1 2010
MARKET CHARACTERISTICS
Source: Colliers International, Q4 2009
PricewaterhouseCoopers
Cadillac Fairview
Great West Life
Developer Anchor Tenant
N/A TBD
TOP Office Sale Transactions by Price
150 York Street Yamana Gold Inc.
$60.25 $43.69
$34.98
$27.92
-
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
30,000,000
$-
$10
$20
$30
$40
$50
$60
$70
Class AAA Class A Class B Class C
Sq. Ft.
Gross Rent $/Sq. Ft.
Avail. Office Space Not Avail. Office Space Gross Rent
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.
$21.38
5.3%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
-7
-3
1
5
9
13
17
21
25
29
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Vacancy Rate
Net Rent $/sf. / Absorption (100,000's)
Absorption Asking Net Rent Vacancy RateManufacturing & Distribution
6%
Data,Publishing, Broadcasting Services 12%
Finance 34% Professional
Services 24%
Public Service & Private Sector Services21%
Others3%
* 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-of-the-art architecture* Limited parking, but great access to public transit and the PATH system, Toronto'sunderground 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
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Sq
uare
Feet
Sublease Direct Sublease as % of Total Available
000000000 0.50.50.50.50.50.50.50.50.5 111111111
kilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometers
Queen Street EastQueen Street EastQueen Street EastQueen Street EastQueen Street EastQueen Street EastQueen Street EastQueen Street EastQueen Street East
Dundas Street EastDundas Street EastDundas Street EastDundas Street EastDundas Street EastDundas Street EastDundas Street EastDundas Street EastDundas Street East
Gerrard Street EastGerrard Street EastGerrard Street EastGerrard Street EastGerrard Street EastGerrard Street EastGerrard Street EastGerrard Street EastGerrard Street East
Bay Street
Bay Street
Bay Street
Bay Street
Bay Street
Bay Str eet
Bay Str eet
Bay Str eet
Bay Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
College StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege Street
Queen's Quay
East
Queen's Quay
East
Queen's Quay
EastQueen'
s Quay East
Queen's Quay
EastQueen'
s Quay East
Queen's Quay
East
Queen's Quay
East
Queen's Quay
East
King Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street West
Front Street West
Front Street West
Front Street WestFront Street West
Front Street WestFront Street West
Front Street West
Front Street WestFront Street West
Dundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street West
University Avenue
University Avenue
University Avenue
Uni versity Avenue
Uni versity Avenue
Univer sity Av enue
Univer sity Av enue
Univer sity Av enue
Uni versity Avenue
Gerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street West
Queen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street West
Lake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard West
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Spadina Avenue
Spadina Avenue
Spadina Avenue
Spadina Avenue
Spadina Avenue
Spadina Avenue
Spadina Avenue
Spadina Avenue
Spadina Avenue
Dufferin Street
Dufferin Street
Dufferin Street
Duf ferin Street
Duf ferin Street
Dufferin Street
Dufferin Street
Dufferin Street
Duf ferin Street
Bathurst Stree
tBathurst Stree
tBathurst Stree
tBathurst Stree
tBathurst Stree
tBathurst Stree
tBathurst Stree
tBathurst Stree
tBathurst Stree
t
Jarvis Street
Jarvis Street
Jarvis Street
Jarvis Street
Jarvis Street
Jar vis Street
Jar vis Street
Jar vis Street
Jarvis Street
Don Val ley Parkway
Don Val ley Parkway
Don Val ley Parkway
Don Vall ey Parkway
Don Vall ey Parkway
Don Vall ey Parkway
Don Vall ey Parkway
Don Vall ey Parkway
Don Vall ey Parkway
Gardiner Expressway
Gardiner Expressway
Gardiner ExpresswayGardiner Expressway
Gardiner ExpresswayGardiner Expressway
Gardiner Expressway
Gardiner ExpresswayGardiner Expressway
L A K E O N T A R I O
DSDSDSDSDSDSDSDSDS
FCFCFCFCFCFCFCFCFC
DNDNDNDNDNDNDNDNDN
DEDEDEDEDEDEDEDEDEDWDWDWDWDWDWDWDWDW
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
Our Knowledge is your Property
$60.25 $43.69
$34.98
$27.92
-
5,000,000
10,000,000
15,000,000
20,000,000
25,000,000
30,000,000
$-
$10
$20
$30
$40
$50
$60
$70
Class AAA Class A Class B Class C
Sq. Ft.
Gross Rent $/Sq. Ft.
Avail. Office Space Not Avail. Office Space Gross Rent
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.
$21.38
5.3%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
9.0%
10.0%
-7
-3
1
5
9
13
17
21
25
29
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Vacancy Rate
Net Rent $/sf. / Absorption (100,000's)
Absorption Asking Net Rent Vacancy RateManufacturing & Distribution
6%
Data,Publishing, Broadcasting Services 12%
Finance 34% Professional
Services 24%
Public Service & Private Sector Services21%
Others3%
* 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-of-the-art architecture* Limited parking, but great access to public transit and the PATH system, Toronto'sunderground 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
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Sq
uare
Feet
Sublease Direct Sublease as % of Total Available
000000000 0.50.50.50.50.50.50.50.50.5 111111111
kilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometers
Queen Street EastQueen Street EastQueen Street EastQueen Street EastQueen Street EastQueen Street EastQueen Street EastQueen Street EastQueen Street East
Dundas Street EastDundas Street EastDundas Street EastDundas Street EastDundas Street EastDundas Street EastDundas Street EastDundas Street EastDundas Street East
Gerrard Street EastGerrard Street EastGerrard Street EastGerrard Street EastGerrard Street EastGerrard Street EastGerrard Street EastGerrard Street EastGerrard Street East
Bay Street
Bay Street
Bay Street
Bay Street
Bay Street
Bay Str eet
Bay Str eet
Bay Str eet
Bay Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
College StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege Street
Queen's Quay
East
Queen's Quay
East
Queen's Quay
EastQueen'
s Quay East
Queen's Quay
EastQueen'
s Quay East
Queen's Quay
East
Queen's Quay
East
Queen's Quay
East
King Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street West
Front Street West
Front Street West
Front Street WestFront Street West
Front Street WestFront Street West
Front Street West
Front Street WestFront Street West
Dundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street West
University Avenue
University Avenue
University Avenue
Uni versity Avenue
Uni versity Avenue
Univer sity Av enue
Univer sity Av enue
Univer sity Av enue
Uni versity Avenue
Gerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street West
Queen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street West
Lake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard WestLake Shore Boulevard West
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Parliam
ent Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Spadina Avenue
Spadina Avenue
Spadina Avenue
Spadina Avenue
Spadina Avenue
Spadina Avenue
Spadina Avenue
Spadina Avenue
Spadina Avenue
Dufferin Street
Dufferin Street
Dufferin Street
Duf ferin Street
Duf ferin Street
Dufferin Street
Dufferin Street
Dufferin Street
Duf ferin Street
Bathurst Stree
tBathurst Stree
tBathurst Stree
tBathurst Stree
tBathurst Stree
tBathurst Stree
tBathurst Stree
tBathurst Stree
tBathurst Stree
t
Jarvis Street
Jarvis Street
Jarvis Street
Jarvis Street
Jarvis Street
Jar vis Street
Jar vis Street
Jar vis Street
Jarvis Street
Don Val ley Parkway
Don Val ley Parkway
Don Val ley Parkway
Don Vall ey Parkway
Don Vall ey Parkway
Don Vall ey Parkway
Don Vall ey Parkway
Don Vall ey Parkway
Don Vall ey Parkway
Gardiner Expressway
Gardiner Expressway
Gardiner ExpresswayGardiner Expressway
Gardiner ExpresswayGardiner Expressway
Gardiner Expressway
Gardiner ExpresswayGardiner Expressway
L A K E O N T A R I O
DSDSDSDSDSDSDSDSDS
FCFCFCFCFCFCFCFCFC
DNDNDNDNDNDNDNDNDN
DEDEDEDEDEDEDEDEDEDWDWDWDWDWDWDWDWDW
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.
-
SUBMARKET INDICATORS MAP OF SUBMARKET
Q3 2009 Q4 2009 Trend AVAILABLE SPACE OPTIONS
Office Inventory* 31,593,740 33,615,743
Net Absorption 4,321 630,572
Vacancy Rate 6.3% 6.9%
Average Asking Net Rent $27.83 $25.28 0 - 4k sf
Average Additional Rent $26.52 $24.90 4k - 10k sf
10k - 20k sf
AVAILABLE SUPPLY SPLIT 20 - 50k sf
50k - 100k sf
100k sf +
RECENT TRANSACTIONS Q4 2009
Suite Sq. Ft. Landlord
Entire space 192,000 Cadillac Fairview
Corporation
20, 21 43,000 Brookfield
Management
1100 19,350 Oxford Properties
Group Inc.
Date Address Price Vendor Purchaser Size $/PSF
10/28/2009151 Front
Street West$180,000,000
Northam
Realty Allied Properties
REIT 325,772 $553
TenantAddress
CI Financial15 York Street
181 Bay Street
Office Submarket Dashboard: Financial Core
# of units**
1
Q4-09
0
170
124
Number of units
on the
submarket by
size brackets
*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. 74
TOP Office Lease Transactions by Size
81
** Counting smallest divisible units in existing buildings
and buildings under construction.
Baker & Mckenzie
TOP Office Sale Transactions by Price
Yamana Gold Inc. 150 York Street
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
4,000,000
4,500,000
5,000,000
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Sq
uare
Feet
Direct Sublease Sublease as % of Total Available
000000000 0.10.10.10.10.10.10.10.10.1 0.20.20.20.20.20.20.20.20.2
kilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometers
Simcoe Str eet
Simcoe Str eet
Simcoe Str eet
Si mcoe Str eet
Si mcoe Str eet
Simcoe Street
Simcoe Street
Simcoe Street
Si mcoe Str eet
Victoria
Street
Victoria S
treet
Victo
ria Street
Victoria
Street
Victo
ria Street
Victoria
Street
Victoria S
treet
Victo
ria Street
Victoria S
treet
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
King Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street West
Adelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street West Yonge St reet
Yonge St reet
Yonge St reet
Yonge Str eet
Yonge Str eet
Yonge Street
Yonge Street
Yonge Street
Yonge Str eet
Bay Street
Bay Street
Bay S
treet
Bay Street
Bay S
treet
Bay Street
Bay Street
Bay S
treet
Bay Street
Front Street WestFront Street WestFront Street WestFront Street WestFront Street WestFront Street WestFront Street WestFront Street WestFront Street West
York S
treet
York Street
York Street
York S
treet
York Street
York S
treet
York Street
York Street
York Street
Queen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street West
Richmond Street WestRichmond Street WestRichmond Street WestRichmond Street WestRichmond Street WestRichmond Street WestRichmond Street WestRichmond Street WestRichmond Street West
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
DWDWDWDWDWDWDWDWDW
DSDSDSDSDSDSDSDSDS
DEDEDEDEDEDEDEDEDEFCFCFCFCFCFCFCFCFC
DNDNDNDNDNDNDNDNDN
10/28/2009151 Front
Street West$180,000,000 Realty
Advisors
Allied Properties
REIT 325,772 $553
GROSS RENT & AVAILABILITY BY BUILDING CLASS OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
18 MONTH TREND TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Address Sq. Ft. Est. Com.
18 York Street 650,000 Q1 2011
15 York Street 207,000 Q1 2010
SUBMARKET CHARACTERISTICS
Source: Colliers International, Q4 2009
Great West Life
Cadillac Fairview
PricewaterhouseCoopers
N/A TBD
Developer Anchor Tenant
$60.25
$51.80
$40.68
$35.30
-
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
$-
$10
$20
$30
$40
$50
$60
$70
Class AAA Class A Class B Class C
Sq. Ft.
Gross Rent $/Sq. Ft.
Avail. Office Space Not Avail. Office Space Gross Rent
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.
$25.28
6.9%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
-8
-4
-
4
8
12
16
20
24
28
32
36
40
44
48
52
56
60
64
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Absorption Asking Net Rent Vacancy Rate
Manufacturing & Distribution
5%
Data,Publishing, Broadcasting Services 5%
Finance 51%
Professional Services 28%
Public Service & Private Sector Services10%
Others1%
* 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%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
4,000,000
4,500,000
5,000,000
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Sq
uare
Feet
Direct Sublease Sublease as % of Total Available
000000000 0.10.10.10.10.10.10.10.10.1 0.20.20.20.20.20.20.20.20.2
kilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometers
Simcoe Str eet
Simcoe Str eet
Simcoe Str eet
Si mcoe Str eet
Si mcoe Str eet
Simcoe Street
Simcoe Street
Simcoe Street
Si mcoe Str eet
Victoria
Street
Victoria S
treet
Victo
ria Street
Victoria
Street
Victo
ria Street
Victoria
Street
Victoria S
treet
Victo
ria Street
Victoria S
treet
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
King Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street West
Adelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street West Yonge St reet
Yonge St reet
Yonge St reet
Yonge Str eet
Yonge Str eet
Yonge Street
Yonge Street
Yonge Street
Yonge Str eet
Bay Street
Bay Street
Bay S
treet
Bay Street
Bay S
treet
Bay Street
Bay Street
Bay S
treet
Bay Street
Front Street WestFront Street WestFront Street WestFront Street WestFront Street WestFront Street WestFront Street WestFront Street WestFront Street West
York S
treet
York Street
York Street
York S
treet
York Street
York S
treet
York Street
York Street
York Street
Queen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street West
Richmond Street WestRichmond Street WestRichmond Street WestRichmond Street WestRichmond Street WestRichmond Street WestRichmond Street WestRichmond Street WestRichmond Street West
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
DWDWDWDWDWDWDWDWDW
DSDSDSDSDSDSDSDSDS
DEDEDEDEDEDEDEDEDEFCFCFCFCFCFCFCFCFC
DNDNDNDNDNDNDNDNDN
Source: Colliers International, Q4 2009
Our Knowledge is your Property
$60.25
$51.80
$40.68
$35.30
-
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
$-
$10
$20
$30
$40
$50
$60
$70
Class AAA Class A Class B Class C
Sq. Ft.
Gross Rent $/Sq. Ft.
Avail. Office Space Not Avail. Office Space Gross Rent
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.
$25.28
6.9%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
-8
-4
-
4
8
12
16
20
24
28
32
36
40
44
48
52
56
60
64
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Absorption Asking Net Rent Vacancy Rate
Manufacturing & Distribution
5%
Data,Publishing, Broadcasting Services 5%
Finance 51%
Professional Services 28%
Public Service & Private Sector Services10%
Others1%
* 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%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
0
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
4,000,000
4,500,000
5,000,000
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Sq
uare
Feet
Direct Sublease Sublease as % of Total Available
000000000 0.10.10.10.10.10.10.10.10.1 0.20.20.20.20.20.20.20.20.2
kilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometers
Simcoe Str eet
Simcoe Str eet
Simcoe Str eet
Si mcoe Str eet
Si mcoe Str eet
Simcoe Street
Simcoe Street
Simcoe Street
Si mcoe Str eet
Victoria
Street
Victoria S
treet
Victo
ria Street
Victoria
Street
Victo
ria Street
Victoria
Street
Victoria S
treet
Victo
ria Street
Victoria S
treet
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
Univer sity A
venue
King Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street West
Adelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street WestAdelaide Street West Yonge St reet
Yonge St reet
Yonge St reet
Yonge Str eet
Yonge Str eet
Yonge Street
Yonge Street
Yonge Street
Yonge Str eet
Bay Street
Bay Street
Bay S
treet
Bay Street
Bay S
treet
Bay Street
Bay Street
Bay S
treet
Bay Street
Front Street WestFront Street WestFront Street WestFront Street WestFront Street WestFront Street WestFront Street WestFront Street WestFront Street West
York S
treet
York Street
York Street
York S
treet
York Street
York S
treet
York Street
York Street
York Street
Queen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street West
Richmond Street WestRichmond Street WestRichmond Street WestRichmond Street WestRichmond Street WestRichmond Street WestRichmond Street WestRichmond Street WestRichmond Street West
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
Gardine
r Expre
ssway
DWDWDWDWDWDWDWDWDW
DSDSDSDSDSDSDSDSDS
DEDEDEDEDEDEDEDEDEFCFCFCFCFCFCFCFCFC
DNDNDNDNDNDNDNDNDN
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.
-
SUBMARKET INDICATORS MAP OF SUBMARKET
Q3 2009 Q4 2009 Trend
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
Average Additional Rent $20.85 $18.65
AVAILABLE SUPPLY SPLIT
AVAILABLE SPACE OPTIONS
0 - 4k sf 4k - 10k sf 10k - 20k sf 20 - 50k sf 50k - 100k sf 100k sf +
# of units** 66 12 12 11 0 0
** Counting smallest divisible units in existing buildings and buildings which are under construction.
RECENT TRANSACTIONS Q4 2009
Suite Sq. Ft. Landlord
Suite 701 7,165 Crown Realty
GROSS RENT & AVAILABILITY BY BUILDING CLASS Suite 501 5,575 Canbra Realty
Suite 211 4,794 Cadillac Fairview
Q4-09Office Submarket Dashboard: Downtown North
*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.
TOP Office Lease Transactions by Size
Number of units on the submarket by size brackets
481 University Ave
22 College Street
TenantAddress
0
0
220 Yonge Street 0Avail. Office Space Not Avail. Office Space Gross Rent
-5%
5%
15%
25%
35%
45%
55%
65%
75%
85%
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Sq
uare
Feet
Direct Sublease Sublease as % of Total Available000000000 0.50.50.50.50.50.50.50.50.5 111111111
kilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometers
Harbord StreetHarbord StreetHarbord StreetHarbord StreetHarbord StreetHarbord StreetHarbord StreetHarbord StreetHarbord Street
Wellesley Street EastWellesley Street EastWellesley Street EastWellesley Street EastWellesley Street EastWellesley Street EastWellesley Street EastWellesley Street EastWellesley Street East
Bayvie
w Aven
ue
Bayvie
w Avenue
Bayview
Avenue
Bayvie
w Aven
ue
Bayview
Avenue
Bayvie
w Aven
ue
Bayvie
w Avenue
Bayview
Avenue
Bayvie
w Avenue
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Gerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street West
Universi ty A
venue
Universi ty A
venue
Universi ty A
venue
University A
venue
University A
venue
University A
venue
University A
venue
University A
venue
University A
venue
Quee
n's Park C
rescent E
astQueen's P
ark Cresc
ent East
Queen's P
ark Crescen
t East
Quee
n's Park C
rescent E
astQueen's P
ark Crescen
t East
Quee
n's Park C
rescent E
astQueen's P
ark Cresc
ent East
Queen's P
ark Crescen
t East
Queen's P
ark Cresc
ent East
College StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege Street
Sp adina A
venueSp ad
ina Avenue
Sp adina A
venue
Spadin a A
venueSpadin a A
venue
Spadin a A
venueSpad
in a Avenue
Spadin a A
venue
Spad
in a Avenue
Dundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street West
Bay S
treet
Bay S
treet
Bay S
treet
Bay S
treet
Bay S
treet
Bay S
treet
Bay S
treet
Bay S
treet
Bay S
treet
Jarvi s Street
Jarvi s Street
Jarvi s Street
Jarvi s Street
Jarvi s Street
Jarvis Street
Jarvis Street
Jarvis Street
Jarvi s StreetC h
urch Street
Church Street
Church Street
Church Street
Church Street
Chur ch Street
Chur ch Street
Chur ch Street
Church Street S
herbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Bathurst Street
Bathurst Street
Bathurst Street
Bathurst Street
Bathurst Street
Bathurst Street
Bathurst Street
Bathurst Street
Bathurst Street
Queen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street West
Bloor Street East
Bloor Street East
Bloor Street East
Bloor Street East
Bloor Street East
Bloor Street East
Bloor Street East
Bloor Street East
Bloor Street East
Parliament Street
Parliament Street
Parliament Street
Parliament Street
Parliament Street
Parliament Street
Parliament Street
Parliament Street
Parliament Street
Don Val ley Par kway
Don Val ley Par kway
Don Val ley Par kway
Don Val ley Par kway
Don Val ley Par kway
Don Vall ey Par kway
Don Vall ey Par kway
Don Vall ey Par kway
Don Val ley Par kway
DEDEDEDEDEDEDEDEDEFCFCFCFCFCFCFCFCFC
TETETETETETETETETE
DNDNDNDNDNDNDNDNDN
YBYBYBYBYBYBYBYBYB
Date Address Price Vendor Purchaser Size $/PSF
10/27/2009314 Jarvis
Street$1,960,000
6142869
Canada Inc.
1666794 Ontario
Inc. 9,245 $212
OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES
15 MONTH TREND TOP PROJECTS UNDER CONSTRUCTION BY SIZE
Address Sq. Ft. Est. Com.
SUBMARKET CHARACTERISTICS
Source: Colliers International, Q4 2009
No Construction took place during this period
Developer Anchor Tenant
TOP Office Sale Transactions by Price
$36.60
$34.94
$31.32
-
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
$28
$29
$30
$31
$32
$33
$34
$35
$36
$37
Class A Class B Class C
Sq. Ft.
Gross Rent $/Sq. Ft.
Avail. Office Space Not Avail. Office Space Gross Rent
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.
$15.94
2.3%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
-20
-15
-10
-5
-
5
10
15
20
25
Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Absorption Asking Net Rent Vacancy Rate
Manufacturing & Distribution
5%
Data,Publishing, Broadcasting Services 3%
Finance 28%
Professional Services 15%
Public Service & Private Sector Services47%
Others2%
* Offering all downtown location advantages but at lower rental prices than in the FinancialCore* Great connections to public transit and road system makes this submarket accessible toemployees and clients/customers.* Great proximity to an educated and productive labour force* With new residential high-rise development, residential development will increase andexpand and diversify labour pool* Incorporates Toronto Discovery District a 2.5 square km research park with a highlyconcentrated mix of research, bio-medical companies, finance and business supportservices* Submarket will benefit from the development of the Metrolinx transportation plan andMoveOntario 2020.
-5%
5%
15%
25%
35%
45%
55%
65%
75%
85%
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Sq
uare
Feet
Direct Sublease Sublease as % of Total Available000000000 0.50.50.50.50.50.50.50.50.5 111111111
kilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometers
Harbord StreetHarbord StreetHarbord StreetHarbord StreetHarbord StreetHarbord StreetHarbord StreetHarbord StreetHarbord Street
Wellesley Street EastWellesley Street EastWellesley Street EastWellesley Street EastWellesley Street EastWellesley Street EastWellesley Street EastWellesley Street EastWellesley Street East
Bayvie
w Aven
ue
Bayvie
w Avenue
Bayview
Avenue
Bayvie
w Aven
ue
Bayview
Avenue
Bayvie
w Aven
ue
Bayvie
w Avenue
Bayview
Avenue
Bayvie
w Avenue
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Gerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street West
Universi ty A
venue
Universi ty A
venue
Universi ty A
venue
University A
venue
University A
venue
University A
venue
University A
venue
University A
venue
University A
venue
Quee
n's Park C
rescent E
astQueen's P
ark Cresc
ent East
Queen's P
ark Crescen
t East
Quee
n's Park C
rescent E
astQueen's P
ark Crescen
t East
Quee
n's Park C
rescent E
astQueen's P
ark Cresc
ent East
Queen's P
ark Crescen
t East
Queen's P
ark Cresc
ent East
College StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege Street
Sp adina A
venueSp ad
ina Avenue
Sp adina A
venue
Spadin a A
venueSpadin a A
venue
Spadin a A
venueSpad
in a Avenue
Spadin a A
venue
Spad
in a Avenue
Dundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street West
Bay S
treet
Bay S
treet
Bay S
treet
Bay S
treet
Bay S
treet
Bay S
treet
Bay S
treet
Bay S
treet
Bay S
treet
Jarvi s Street
Jarvi s Street
Jarvi s Street
Jarvi s Street
Jarvi s Street
Jarvis Street
Jarvis Street
Jarvis Street
Jarvi s StreetC h
urch Street
Church Street
Church Street
Church Street
Church Street
Chur ch Street
Chur ch Street
Chur ch Street
Church Street S
herbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Bathurst Street
Bathurst Street
Bathurst Street
Bathurst Street
Bathurst Street
Bathurst Street
Bathurst Street
Bathurst Street
Bathurst Street
Queen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street West
Bloor Street East
Bloor Street East
Bloor Street East
Bloor Street East
Bloor Street East
Bloor Street East
Bloor Street East
Bloor Street East
Bloor Street East
Parliament Street
Parliament Street
Parliament Street
Parliament Street
Parliament Street
Parliament Street
Parliament Street
Parliament Street
Parliament Street
Don Val ley Par kway
Don Val ley Par kway
Don Val ley Par kway
Don Val ley Par kway
Don Val ley Par kway
Don Vall ey Par kway
Don Vall ey Par kway
Don Vall ey Par kway
Don Val ley Par kway
DEDEDEDEDEDEDEDEDEFCFCFCFCFCFCFCFCFC
TETETETETETETETETE
DNDNDNDNDNDNDNDNDN
YBYBYBYBYBYBYBYBYB
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
Our Knowledge is your Property
$36.60
$34.94
$31.32
-
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
$28
$29
$30
$31
$32
$33
$34
$35
$36
$37
Class A Class B Class C
Sq. Ft.
Gross Rent $/Sq. Ft.
Avail. Office Space Not Avail. Office Space Gross Rent
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.
$15.94
2.3%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
-20
-15
-10
-5
-
5
10
15
20
25
Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Vacancy Rate
Net Rent $/sf. / Absorption (10,000's)
Absorption Asking Net Rent Vacancy Rate
Manufacturing & Distribution
5%
Data,Publishing, Broadcasting Services 3%
Finance 28%
Professional Services 15%
Public Service & Private Sector Services47%
Others2%
* Offering all downtown location advantages but at lower rental prices than in the FinancialCore* Great connections to public transit and road system makes this submarket accessible toemployees and clients/customers.* Great proximity to an educated and productive labour force* With new residential high-rise development, residential development will increase andexpand and diversify labour pool* Incorporates Toronto Discovery District a 2.5 square km research park with a highlyconcentrated mix of research, bio-medical companies, finance and business supportservices* Submarket will benefit from the development of the Metrolinx transportation plan andMoveOntario 2020.
-5%
5%
15%
25%
35%
45%
55%
65%
75%
85%
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
1,000,000
Q3 2008 Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009
Sq
uare
Feet
Direct Sublease Sublease as % of Total Available000000000 0.50.50.50.50.50.50.50.50.5 111111111
kilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometers
Harbord StreetHarbord StreetHarbord StreetHarbord StreetHarbord StreetHarbord StreetHarbord StreetHarbord StreetHarbord Street
Wellesley Street EastWellesley Street EastWellesley Street EastWellesley Street EastWellesley Street EastWellesley Street EastWellesley Street EastWellesley Street EastWellesley Street East
Bayvie
w Aven
ue
Bayvie
w Avenue
Bayview
Avenue
Bayvie
w Aven
ue
Bayview
Avenue
Bayvie
w Aven
ue
Bayvie
w Avenue
Bayview
Avenue
Bayvie
w Avenue
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Yonge Street
Gerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street WestGerrard Street West
Universi ty A
venue
Universi ty A
venue
Universi ty A
venue
University A
venue
University A
venue
University A
venue
University A
venue
University A
venue
University A
venue
Quee
n's Park C
rescent E
astQueen's P
ark Cresc
ent East
Queen's P
ark Crescen
t East
Quee
n's Park C
rescent E
astQueen's P
ark Crescen
t East
Quee
n's Park C
rescent E
astQueen's P
ark Cresc
ent East
Queen's P
ark Crescen
t East
Queen's P
ark Cresc
ent East
College StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege Street
Sp adina A
venueSp ad
ina Avenue
Sp adina A
venue
Spadin a A
venueSpadin a A
venue
Spadin a A
venueSpad
in a Avenue
Spadin a A
venue
Spad
in a Avenue
Dundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street WestDundas Street West
Bay S
treet
Bay S
treet
Bay S
treet
Bay S
treet
Bay S
treet
Bay S
treet
Bay S
treet
Bay S
treet
Bay S
treet
Jarvi s Street
Jarvi s Street
Jarvi s Street
Jarvi s Street
Jarvi s Street
Jarvis Street
Jarvis Street
Jarvis Street
Jarvi s StreetC h
urch Street
Church Street
Church Street
Church Street
Church Street
Chur ch Street
Chur ch Street
Chur ch Street
Church Street S
herbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Sherbourne Street
Bathurst Street
Bathurst Street
Bathurst Street
Bathurst Street
Bathurst Street
Bathurst Street
Bathurst Street
Bathurst Street
Bathurst Street
Queen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street WestQueen Street West
Bloor Street East
Bloor Street East
Bloor Street East
Bloor Street East
Bloor Street East
Bloor Street East
Bloor Street East
Blo
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