retechto presentation oct 26 09 - chris fyvie from colliers int'l
DESCRIPTION
Presentation given at Real Estate Technology Toronto Meetup on October 26, 2009 by Chris Fyvie from Colliers International.TRANSCRIPT
Toronto CommercialReal Estate
Market Update
Chris FyvieSales Representative
416.643.3713
Chris. [email protected]
@chris.fyvie - Twitter
Realty: Downtown vacancy rate @ 5.2% Financial Core vacancy rate @ 3.5%
Faltering demand Rising vacancy Downward pressure on rent Covenant of Rising Concern
In the News:
70% of the new A Class office space has been pre-leased and state-of-the-art buildings are in high demand
Realty: New A Class buildings in the
Financial Core will drive the market down
In the News:
4.7 million square feet – new inventory
70% pre-leased = 1.41 million square feet coming to market
Current vacancy 7.22 million= 10.5% vacancy
Inventory 68.83 million
Adding the new buildings and assuming a flat absorption rate
7.22 million + 1.41 million = 8.63%68.83 million + 4.70 million 73.53%
= 11.7% vacancy rate
MARKET CONFIDENCE AMONG LANDLORDS
NUMBERS ARE VERY SIMILAR TO THE LOW IN 1992
Marketing Sites - Enrich
Social Bookmarking - Remote
Classifieds - Advertising
Social Networks - Engage