gta office market dashboards q4 2009

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

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.

000000000 101010101010101010kilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometers

202020202020202020

Hig

hway

404

Hig

hway

404

Hig

hway

404

Hig

hway

404

Hig

hway

404

Hig

hway

404

Hig

hway

404

Hig

hway

404

Hig

hway

404

Highway 407Highway 407Highway 407Highway 407Highway 407Highway 407Highway 407Highway 407Highway 407

Queen

Eliza

beth W

ay

Queen

Eliza

beth W

ay

Queen

Eliza

beth W

ay

Queen

Eliza

beth W

ay

Queen

Eliza

beth W

ay

Queen

Eliza

beth W

ay

Queen

Eliza

beth W

ay

Queen

Eliza

beth W

ay

Queen

Eliza

beth W

ayHighw

ay 407

Highw

ay 407

Highw

ay 407

Highw

ay 407

Highw

ay 407

Highw

ay 407

Highw

ay 407

Highw

ay 407

Highw

ay 407

Hig

hway

427

Hig

hway

427

Hig

hway

427

Hig

hway

427

Hig

hway

427

Hig

hway

427

Hig

hway

427

Hig

hway

427

Hig

hway

427

Highw

ay 40

3

Highw

ay 40

3

Highw

ay 40

3

Highw

ay 40

3

Highw

ay 40

3

Highw

ay 40

3

Highw

ay 40

3

Highw

ay 40

3

Highw

ay 40

3

QEW

QEW

QEWQEW

QEWQEW

QEW

QEW

QEW

Highway 410

Highway 410

Highway 410

Highway 410

Highway 410

Highway 410

Highway 410

Highway 410

Highway 410

Gardiner ExpresswayGardiner ExpresswayGardiner ExpresswayGardiner ExpresswayGardiner ExpresswayGardiner ExpresswayGardiner ExpresswayGardiner ExpresswayGardiner Expressway

Hig

hway

400

Hig

hway

400

Hig

hway

400

Hig

hway

400

Hig

hway

400

Hig

hway

400

Hig

hway

400

Hig

hway

400

Hig

hway

400


Highw

ay 401

Highw

ay 401

Highw

ay 401

Highw

ay 401

Highw

ay 401

Highw

ay 401

Highw

ay 401

Highw

ay 401

Highw

ay 401

Hig

hway

48

Hig

hway

48

Hig

hway

48

Hig

hway

48

Hig

hway

48

Hig

hway

48

Hig

hway

48

Hig

hway

48

Hig

hway

48

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

RHRHRHRHRHRHRHRHRH

H7H7H7H7H7H7H7H7H7MAMAMAMAMAMAMAMAMA

SWSWSWSWSWSWSWSWSW

BUBUBUBUBUBUBUBUBU

AWAWAWAWAWAWAWAWAW

AEAEAEAEAEAEAEAEAE

HBHBHBHBHBHBHBHBHBACACACACACACACACAC

MCMCMCMCMCMCMCMCMC

OVOVOVOVOVOVOVOVOV

CVCVCVCVCVCVCVCVCV

HHHHHHHHHHHHHHHHHH

MVMVMVMVMVMVMVMVMV

BRBRBRBRBRBRBRBRBR

YDYDYDYDYDYDYDYDYDYEYEYEYEYEYEYEYEYE

YSYSYSYSYSYSYSYSYSTWTWTWTWTWTWTWTWTW

DMDMDMDMDMDMDMDMDM

DODODODODODODODODO

TETETETETETETETETE

KHKHKHKHKHKHKHKHKH

DFDFDFDFDFDFDFDFDF NYNYNYNYNYNYNYNYNY

WSWSWSWSWSWSWSWSWS

CRCRCRCRCRCRCRCRCR

COCOCOCOCOCOCOCOCO

WBWBWBWBWBWBWBWBWB

STSTSTSTSTSTSTSTST

POPOPOPOPOPOPOPOPO

Prepared By:Colliers InternationalResearch Department

GO Transit

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

College StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege StreetCollege Street

Ave

nue

Roa

dA

venu

e R

oad

Ave

nue

Roa

dA

venu

e R

oad

Ave

nue

Roa

dA

venu

e R

oad

Ave

nue

Roa

dA

venu

e R

oad

Ave

nue

Roa

d

Yo n

ge S

treet

Yo n

ge S

treet

Yo n

ge S

treet

Yo n

ge S

treet

Yo n

ge S

treet

Yo n

ge S

treet

Yo n

ge S

treet

Yo n

ge S

treet

Yo n

ge S

treetSt. Clair Avenue WestSt. Clair Avenue WestSt. Clair Avenue WestSt. Clair Avenue WestSt. Clair Avenue WestSt. Clair Avenue WestSt. Clair Avenue WestSt. Clair Avenue WestSt. Clair Avenue West

Spa

d ina

Ro a

dS

p ad i

na R

o ad

Sp a

d ina

Ro a

dS

p ad i

na R

o ad

Sp a

d ina

Ro a

dS

p ad i

na R

o ad

Sp a

d ina

Ro a

dS

p ad i

na R

o ad

Sp a

d ina

Ro a

d

Bloor Street WestBloor Street WestBloor Street WestBloor Street WestBloor Street WestBloor Street WestBloor Street WestBloor Street WestBloor Street West

Duff eri n S tre et

Duff eri n S tre et

Duff eri n S tre et

Duff eri n S tre et

Duff eri n S tre et

Duff eri n S tre et

Duff eri n S tre et

Duff eri n S tre et

Duff eri n S tre et

Oss ington A

venu eO

ss ington Avenu e

Oss ington A

venu eO

ss ington Avenu e

Oss ington A

venu eO

ss ington Avenu e

Oss ington A

venu eO

ss ington Avenu e

Oss ington A

venu e

Pa r

liam

ent S

treet

Pa r

liam

ent S

treet

Pa r

liam

ent S

treet

Pa r

liam

ent S

treet

Pa r

liam

ent S

treet

Pa r

liam

ent S

treet

Pa r

liam

ent S

treet

Pa r

liam

ent S

treet

Pa r

liam

ent S

treet

She rbo ur ne S

t ree tS

he rbo ur ne St ree t

She rbo ur ne S

t ree tS


She rbo ur ne S

t ree tS


She rbo ur ne S

t ree tS


She rbo ur ne S

t ree t

King Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street WestKing Street West

M

o

u

n

t

P

l

e

a

s

a

n

t

R

o

a

d

M

o

u

n

t

P

l

e

a

s

a

n

t

R

o

a

d

M

o

u

n

t

P

l

e

a

s

a

n

t

R

o

a

d

M

o

u

n

t

P

l

e

a

s

a

n

t

R

o

a

d

M

o

u

n

t

P

l

e

a

s

a

n

t

R

o

a

d

M

o

u

n

t

P

l

e

a

s

a

n

t

R

o

a

d

M

o

u

n

t

P

l

e

a

s

a

n

t

R

o

a

d

M

o

u

n

t

P

l

e

a

s

a

n

t

R

o

a

d

M

o

u

n

t

P

l

e

a

s

a

n

t

R

o

a

d

Don

Val

ley

Park

way

Don

Val

ley

Park

way

Don

Val

ley

Park

way

Don

Val

ley

Park

way

Don

Val

ley

Park

way

Don

Val

ley

Park

way

Don

Val

ley

Park

way

Don

Val

ley

Park

way

Don

Val

ley

Park

way


YSYSYSYSYSYSYSYSYS

TETETETETETETETETE

DEDEDEDEDEDEDEDEDEDSDSDSDSDSDSDSDSDS

FCFCFCFCFCFCFCFCFCDWDWDWDWDWDWDWDWDW

TWTWTWTWTWTWTWTWTW

DNDNDNDNDNDNDNDNDN

YBYBYBYBYBYBYBYBYB

Submarket Boundary

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

000000000

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

427

427

427

427

427

427

427

427

407407407407407407407407407

400

400

400

400

400

400

400

400

400 404

404

404

404

404

404

404

404

404

410

410

410

410

410

410

410

410

410

403

403

403403

403403

403

403

403

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 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%

10%

15%

20%

25%

30%

35%

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

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%



$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.


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.

000000000



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

427

427

427

427

427

427

427

427

407407407407407407407407407

400

400

400

400

400

400

400

400

400 404

404

404

404

404

404

404

404

404

410

410

410

410

410

410

410

410

410

403

403

403403

403403

403

403

403

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


Br ock Street

Br ock Street

Br ock St reet

Br ock St reet

Brock St reet

Brock St reet

Brock St reet


Highway 6

Highway 6

Highway 6

Highway 6

Highway 6

Highway 6

Highway 6

Highway 6

Highway 6


Highway 6

Highway 6

Highway 6

Highway 6

Highway 6

Highway 6

Highway 6

Highway 6


0%

5%

10%

15%

20%

25%

30%

35%

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


Our Knowledge is your Property

Available Direct80%



$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


Sq. Ft.




$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




17%


Finance 27%



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.

000000000



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

427

427

427

427

427

427

427

427

407407407407407407407407407

400

400

400

400

400

400

400

400

400 404

404

404

404

404

404

404

404

404

410

410

410

410

410

410

410

410

410

403

403

403403

403403

403

403

403

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


Br ock Street

Br ock Street

Br ock St reet

Br ock St reet

Brock St reet

Brock St reet

Brock St reet


Highway 6

Highway 6

Highway 6

Highway 6

Highway 6

Highway 6

Highway 6

Highway 6

Highway 6


Highway 6

Highway 6

Highway 6

Highway 6

Highway 6

Highway 6

Highway 6

Highway 6


0%

5%

10%

15%

20%

25%

30%

35%

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


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,

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.

000000000 0.50.50.50.50.50.50.50.50.5kilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometerskilometers

111111111

Univer sity A

ve nueU

niver sity Ave nue

Univer sity A

ve nueU

niver sity Ave nue

Univer sity A

ve nueU

niver sity Ave nue

Univer sity A

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 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



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

ufferin Street

Dufferin S

treetD

ufferin Street

Dufferin S

treetD

ufferin Street

Dufferin S

treetD

ufferin Street

Dufferin S

treet

Ossington A

venueO

ssington Avenue

Ossington A

venueO

ssington Avenue

Ossington A

venueO

ssington Avenue

Ossington A

venueO

ssington Avenue

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


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



DNDNDNDNDNDNDNDNDN

DEDEDEDEDEDEDEDEDE

DSDSDSDSDSDSDSDSDS

FCFCFCFCFCFCFCFCFCDWDWDWDWDWDWDWDWDW

Prepared By:Colliers InternationalResearch Department

GO Transit

Submarket Boundary

MARKET INDICATORS MAP OF MARKET

Q3 2009 Q4 2009 Trend


Net Absorption 84,760 456,285







# of units** 504 235 106 115 2 1




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.


government have not been included in the office inventory. There are 564 office buildings surveyed in this market.


Address


181 Bay Street

30,000,000 $70


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


000000000 0.50.50.50.50.50.50.50.50.5 111111111


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


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


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


Front Street West

Front Street West

Front Street WestFront Street West


Front 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



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 Expressway



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


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



Cadillac Fairview

Great West Life


N/A TBD


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


Sq. Ft.




$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


Absorption Asking Net Rent Vacancy RateManufacturing & Distribution

6%


Finance 34% Professional

Services 24%


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


000000000 0.50.50.50.50.50.50.50.50.5 111111111





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


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


Front Street West

Front Street West



Front 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




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 Expressway



DSDSDSDSDSDSDSDSDS

FCFCFCFCFCFCFCFCFC

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


$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


Sq. Ft.




$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


Absorption Asking Net Rent Vacancy RateManufacturing & Distribution

6%


Finance 34% Professional

Services 24%


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


000000000 0.50.50.50.50.50.50.50.50.5 111111111





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


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


Front Street West

Front Street West



Front 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




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 Expressway



DSDSDSDSDSDSDSDSDS

FCFCFCFCFCFCFCFCFC

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 AVAILABLE SPACE OPTIONS


Net Absorption 4,321 630,572


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 +



Entire space 192,000 Cadillac Fairview

Corporation

20, 21 43,000 Brookfield

Management

1100 19,350 Oxford Properties

Group Inc.


10/28/2009151 Front

Street West$180,000,000

Northam

Realty Allied Properties

REIT 325,772 $553

TenantAddress


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


government have not been included in the office inventory. There are 109 office buildings surveyed in this submarket. 74


81

** Counting smallest divisible units in existing buildings

and buildings under construction.

Baker & Mckenzie


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


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


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


York S

treet

York Street

York Street

York S

treet

York Street

York S

treet

York Street

York Street

York Street


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


18 York Street 650,000 Q1 2011

15 York Street 207,000 Q1 2010

SUBMARKET CHARACTERISTICS


Great West Life

Cadillac Fairview


N/A TBD


$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


Sq. Ft.




$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




5%


Finance 51%



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


000000000 0.10.10.10.10.10.10.10.10.1 0.20.20.20.20.20.20.20.20.2


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



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


York S

treet

York Street

York Street

York S

treet

York Street

York S

treet

York Street

York Street

York Street



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


DNDNDNDNDNDNDNDNDN



$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


Sq. Ft.




$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




5%


Finance 51%



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


000000000 0.10.10.10.10.10.10.10.10.1 0.20.20.20.20.20.20.20.20.2


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



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


York S

treet

York Street

York Street

York S

treet

York Street

York S

treet

York Street

York Street

York Street



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


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


Net Absorption 72,162 (167,756)







# of units** 66 12 12 11 0 0




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


government have not been included in the office inventory. There are 74 office buildings surveyed in this submarket.


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


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


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


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


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


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 Vall ey Par kway





TETETETETETETETETE

DNDNDNDNDNDNDNDNDN

YBYBYBYBYBYBYBYBYB


10/27/2009314 Jarvis

Street$1,960,000

6142869

Canada Inc.

1666794 Ontario

Inc. 9,245 $212


15 MONTH TREND TOP PROJECTS UNDER CONSTRUCTION BY SIZE


SUBMARKET CHARACTERISTICS


No Construction took place during this period



$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.




$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




5%


Finance 28%



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





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


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


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


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


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











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


$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.




$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




5%


Finance 28%



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





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


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


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


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


Bloor Street East

Bloor Street East

Bloor Street East

Bloor Street East

Bloor Street East

Bloor Street East

Bloor Street East

Blo

gta office market dashboards q4 2009

Documents

i e r s i n t e r n

t i o n

e t b o u n d

o f f i c e

sheridang t

n d s u b

gta regional2

gta west29