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1. Office Market Dashboard
Downtown
2011 Q1
MARKET SNAPSHOT MAP OF MARKET
2010 Q4 2011 Q1 Trend
Office Inventory* 69,853,423 69,731,115 q
Net Absorption 705,012 774,454 p
Vacancy Rate 5.6% 5.7% p
Average Asking Net Rent $22.99 $22.82 q
Average Additional Rent $24.64 $24.90 p
*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 524 office buildings surveyed in the
Downtown office region.
GROSS RENT & AVAILABILITY BY BUILDING CLASS AVAILABLE SUPPLY SPLIT
Avail. Office Space Not Avail. Office Space Gross Rent Sublease Avail Direct Avail Sublease % of Total Avail.
800 20%
$80 3,000
700 18%
$70 16%
$67.81 2,500 600
14%
SF (10,000's)
$60 500 12%
2,000 400 10%
$50
SF (10,000's)
$46.35 8%
Gross Rent $/SF
300
$40 1,500 6%
$35.47 200
4%
$30 $30.06 100
1,000 2%
$20 0 0%
500 2009 Q4 2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1
$10
$- 0
Class AAA Class A Class B Class C
RECENT TRANSACTIONS
* The top sale transaction this quarter was 409,659 SF for $103,000,000
at 180 Dundas Street West. The deal closed January 25th.
Note: Not available office space (light blue) and available office space (dark blue) add
up to the total inventory of office space in the respective building class. * The top lease transaction this quarter was 28,265 SF at 100 King
Street West. The deal closed on February 28th and the tenant was UBS
Bank.
18 MONTH TREND TOP PROJECTS UNDER CONSTRUCTION
* GWL Realty Advisors has 644,952 SF under construction at 18 York
Absorption Vacancy Rate Asking Net Rent Street.
1,000 $22.82 25
Asking Net Rent ($) / Vacancy Rate (%)
800 MARKET CHARACTERISTICS
20
* The Downtown market includes the Financial Core, Downtown East,
600 Downtown North, Downtown South & Downtown West.
Thousands (SF)
15 * GTA top annual rental rates are achieved in buildings located in this
market.
400
* Market is in high demand by users looking for a prestige urban location
10 and modern, state-of-the-art architecture.
200 * Limited parking, but great access to public transit and the PATH system
5.7 (Toronto's underground walkway).
5 * Proximity to multiple amenities and services add convenience for
-
employees and customers.
2009 Q4 2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 * Submarket will benefit from the development of the Metrolinx
-200 0 transportation plan and MoveOntario 2020.
Colliers International, 2011 Q1
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.