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Office Market Dashboards Q 2 Colliers International | Greater Toronto Area

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  • Office Market DashboardsQ 2

    2009Colliers International | Greater Toronto Area

  • Greater Toronto Area

    Office Market Dashboards

    Q2 2009

    1. GTA Regional

    2. GTA Central

    3. Downtown

    4. Financial Core

    5. Downtown East

    6. Downtown West

    7. Downtown South

    8. Downtown North

    9. GTA Midtown

    10. Yonge & St. Clair

    22. Airport West

    23. Airport East

    24. Airport Corporate Centre

    25. Sheridan

    26. GTA North

    27. North Yonge Corridor

    28. Dufferin-Finch

    29. Yorkdale

    30. Vaughan

    31. Richmond Hill10. Yonge & St. Clair

    11. Yonge & Eglinton

    12. Yonge & Bloor

    13. GTA West

    14. Oakville

    15. Mississauga City Centre

    16. Meadowvale

    17. Hurontario & Highway 401

    18. Cooksville

    19. Burlington

    20. Brampton

    21. Highway 427 & Bloor-Islington

    31. Richmond Hill

    32. GTA East

    33. Woodbine-Steeles

    34. Toronto East

    35. Pickering-Oshawa

    36. Markham

    37. Highways 404 & 407

    38. Duncan Mill

    39. Don Mills & Eglinton

    40. Consumers Road

    41. Scarborough Town Centre

  • REGIONAL INDICATORS MAP OF REGION

    Q1 2009 Q2 2009 Trend

    Office Inventory* 180,142,712 180,664,489

    Net Absorption (432,214) 657,589

    Vacancy Rate 5.5% 5.7%

    Average Asking Net Rent $17.66 $17.58

    Average Additional Rent $15.86 $15.94

    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** 1626 664 406 333 53 24

    ** Counting smallest divisible units in existing buildings and buildings which are under construction.

    RECENT TRANSACTIONS Q2 2009

    Suite Sq. Ft. Landlord

    505 16,985 Cadillac Fairview

    600 16,630 The Last Minute Club

    301 15,00090 Eglinton Ave

    Holdings

    GROSS RENT & AVAILABILITY BY BUILDING CLASS Date Address Price Vendor Purchaser Size $/PSF

    6/18/2009 415 Yonge Street $32,100,000 Anthem

    Properties Crown Realty Partners 191,880 $172.00

    5/27/20096700 Century

    Avenue$7,000,000

    A Private

    Individual Sanyo Co. 56,607 $124.00

    6/15/200921 Randolph

    Avenue$5,765,000

    Don Valley

    Storage Inc Canadian Red Cross 59,000 $98.00

    OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES

    18 MONTH TREND

    TOP PROJECTS UNDER CONSTRUCTION BY SIZE

    Address Sq. Ft. Est. Com.

    155 Wellington

    Street West1,223,891 Q2 2009

    333 Bay Street 1,127,986 Q3 2009

    25 York Street 780,000 Q3 2009

    REGIONAL CHARACTERISTICS

    Source: Colliers International, Q2 2009

    N/A

    N/A100 Wellington Street W

    150 Ferrand Drive

    *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 2045 office buildings surveyed in the GTA office region.

    Q2-09

    RBC Dexia, Fairmont

    Number of units on the regional market by size brackets

    Tenant

    TOP Office Sale Transactions by Price

    Office Region Dashboard: Greater Toronto Area

    90 Eglinton Avenue E ThinData Inc.

    TOP Office Lease Transactions by Size

    Address

    Menkes

    Brookfield Properties

    Developer Anchor Tenant

    Telus, Kinross,

    Cadillac Fairview

    KPMG, Goodmans,

    Total Available Office Space: 15285487 sf

    Available

    Sublease

    20%

    Available Direct

    80%

    $63.22

    $34.55

    $29.27

    $23.43

    $-

    $10

    $20

    $30

    $40

    $50

    $60

    $70

    Class AAA Class A Class B Class C

    Gross Rent $/Sq. Ft.

    -

    10,000,000

    20,000,000

    30,000,000

    40,000,000

    50,000,000

    60,000,000

    70,000,000

    80,000,000

    Sq. Ft.

    Not Avail. Office Space 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.

    $17.58

    5.7%

    (5)

    (3)

    (1)

    1

    3

    5

    7

    9

    11

    13

    15

    17

    19

    Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009 Q2 2009

    Net Rent $/sf. / Absorption (100,000's)

    0.0%

    1.0%

    2.0%

    3.0%

    4.0%

    5.0%

    6.0%

    7.0%

    8.0%

    9.0%

    Vacancy Rate

    Absorption Asking Net Rent Vacancy Rate

    Manufacturing &

    Distribution

    17%

    Data,Publishing,

    Broadcasting

    Services

    10%

    Finance

    28%

    Professional

    Services

    22%

    Public Service &

    Private Sector

    Services

    20%

    Others

    3%

    * The GTA is Canada's largest urban economic region in terms of size in population, economy and

    office space.

    * Built on strong foundations that include world-renowned educational and health institutions, a

    diversity of internationally competitive sectors and clusters, and a highly-skilled, well-educated and

    growing population.

    * GTA includes the City of Toronto plus & surrounding regional municipalities, which are comprised of

    25 local municipalities of which 11 have populations greater than 100,000 (as of 2008).

    * Over time Toronto has maintained its position as Canada's financial and industrial center.

    * Economic strength and dominance of the area is reflected in its concentration of corporate

    headquarters.

    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

    Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009 Q2 2009

    Square

    Feet

    0%

    5%

    10%

    15%

    20%

    25%

    30%

    35%

    40%

    45%

    50%

    Direct Sublease 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.

    Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.

  • MARKET INDICATORS MAP OF MARKET

    Q1 2009 Q2 2009 Trend

    Office Inventory* 84,971,884 84,997,879

    Net Absorption 196,322 85,909

    Vacancy Rate 4.6% 4.7%

    Average Asking Net Rent $22.99 $22.49

    Average Additional Rent $21.40 $21.17

    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** 717 317 144 127 0 1

    ** Counting smallest divisible units in existing buildings and buildings which are under construction.

    RECENT TRANSACTIONS Q2 2009

    Suite Sq. Ft. Landlord Tenant

    505 16,985 Cadillac Fairview

    301 15,000 90 Eglinton Ave

    Holdings

    500 13,091 N/A

    GROSS RENT & AVAILABILITY BY BUILDING CLASS

    Date Address Price Vendor Purchaser Size $/PSF

    6/18/2009415 Yonge

    Street$32,100,000

    Anthem

    Properties Crown Realty Partners 191,880 $172

    6/15/200921 Randolph

    Avenue$5,765,000

    Don Valley

    Storage Inc Canadian Red Cross 59,000 $98

    5/6/2009860 - 862

    Richmond St W$4,356,000 City of Toronto Allied Properties REIT 27,317 $159

    OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES

    18 MONTH TREND

    TOP PROJECTS UNDER CONSTRUCTION BY SIZE

    Address Sq. Ft. Est. Com.155 Wellington

    Street West1,223,891 Q2 2009

    333 Bay Street 1,127,986 Q3 2009

    25 York Street 780,000 Q3 2009

    MARKET CHARACTERISTICS

    Source: Colliers International, Q2 2009

    Telus, Kinross,

    Cadillac Fairview

    KPMG, Goodmans,

    Q2-09

    RBC Dexia, Fairmont

    Menkes

    Brookfield Properties

    Number of units on the market by size brackets

    Anchor TenantDeveloper

    Office Market Dashboard: GTA Central

    85 Richmond Street W N/A

    *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 724 office buildings surveyed in this market.

    TOP Office Lease Transactions by Size

    Address

    ThinData Inc.

    N/A 100 Wellington Street W

    90 Eglinton Avenue E

    TOP Office Sale Transactions by Price

    $63.22

    $36.54

    $28.66

    $-

    $10

    $20

    $30

    $40

    $50

    $60

    $70

    Class A Class B Class C

    Gross Rent $/Sq. Ft.

    -

    5,000,000

    10,000,000

    15,000,000

    20,000,000

    25,000,000

    30,000,000

    35,000,000

    40,000,000

    Sq. Ft.

    Not Avail. Office Space Avail. Office Space Gross Rent

    $22.49

    4.7%

    (3)

    (1)

    1

    3

    5

    7

    9

    11

    13

    15

    17

    19

    21

    23

    25

    Q1 2008 Q2 2008 Q3 2008 Q4 2008 Q1 2009 Q2 2009

    Net Rent $/sf. / Absorption (100,000's)

    -2.0%

    0.0%

    2.0%

    4.0%

    6.0%

    8.0%

    Vacancy Rate

    Abs