Market knowledge placemat may 7 13
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Market knowledge placemat may 7 13

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A market summary of the Yonge and Bloor commercial real estate market in Toronto.

A market summary of the Yonge and Bloor commercial real estate market in Toronto.

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Market knowledge placemat may 7 13 Market knowledge placemat may 7 13 Presentation Transcript

  • MarketKnowledge17%10,000 SF or more15%5,000-10,000 SF68%5,000 SF or lessMIDTOWN - YONGE-EGLINTONOFFICE LEASE TRANSACTION BY SIZE> Majority of tenants relocating are in the1,000 to 5,000 square foot range> 66% of the deals under 5,000 square feet were less than2,500 square feet> 90% of larger tenants in the 10,000 square feet range ormore are renewingLeasing activity has remained stagnant in Midtown with thevacancy rate rising to 5.2 percent this quarter. At the end of2012, Midtown hit an all-time low in vacancy of 5.0 percentand average net asking rates were at their highest at $17.73per square foot this quarter.The Yonge and Eglinton submarket appears to tell a differentstory with vacancy rising from 6.5 percent to 7.0 percentthis quarter. However, there as a heightened amount ofactivity this quarter with deals that will impact absorptionover the next few quarters.First Quarter 2013Market SnapshotQ4 2012 Q1 2013 TrendOffice Inventory 17,795,438 17,795,438 Net Absorption 25,976 (48,786)  MAPVacancy Rate 5.0% 5.2% Availability Rate 6.4% 6.2% Average Asking Net Rent $17.07 $17.70 Average Additional Rent $18.18 $18.36 Average Asking Gross Rent $35.25 $36.06 24 Month TrendInventory & Availability by MarketInventory (SF)No new development updates at this time.Availability (SF)Market ProfileNew Developments UpdateTTC access via subway, LRT and bus routes.Office Market Dashboard | Midtown$17.705.2%-15-10-5051015202530-600-400-20002004006008001,0001,2002011Q22011Q32011Q42012Q12012Q22012Q32012Q42013Q1AskingNetRent($)/VacancyRate(%)Absorption(ThousandsSF)Absorption Vacancy Rate Average Net RentYonge-Bloor8,827,08650%Yonge-St.Clair2,467,40114%Yonge-Eglinton5,077,13428%Toronto West1,423,8178%Yonge-Bloor452,76641%Yonge-St.Clair127,37611%Yonge-Toronto West121,13411%CLASS ABUILDING AREA 132,000AVAILABLE 5,990NET ASK $15.00ADDITIONAL RENT $18.70GROSS ASK $33.70CLASS BBUILDING AREA 82,443AVAILABLE 51,012NET ASK $18.00ADDITIONAL RENT $20.11GROSS ASK $38.11CLASS ABUILDING AREA 110,357AVAILABLE 13,802NET ASK $15.00ADDITIONAL RENT $18.79GROSS ASK $33.79CLASS BBUILDING AREA 196,650AVAILABLE 46,259NET ASK $16.00ADDITIONAL RENT $19.90GROSS ASK $35.90CLASS BBUILDING AREA 112,284AVAILABLE 12,690NET ASK $13.50ADDITIONAL RENT $17.15GROSS ASK $30.65CLASS BBUILDING AREA 53,000AVAILABLE 12,782NET ASK $13.00ADDITIONAL RENT $16.00GROSS ASK $29.00CLASS CBUILDING AREA 111,133AVAILABLE 39,162NET ASK $15.50ADDITIONAL RENT $16.65GROSS ASK $32.15CLASS ABUILDING AREA 322,806AVAILABLE 6,130NET ASK $20.00ADDITIONAL RENT $23.09GROSS ASK $43.09CLASS ABUILDING AREA 223,382AVAILABLE 55,007NET ASK $16.00ADDITIONAL RENT $20.99GROSS ASK $36.99CLASS CBUILDING AREA 60,275AVAILABLE 4,050NET ASK $11.50ADDITIONAL RENT $15.97GROSS ASK $27.47CLASS ABUILDING AREA 521,190AVAILABLE 10,256NET ASK -ADDITIONAL RENT $23.09GROSS ASK -75EGLINTONAVEE876543211EGLINTONAVEE8765432140EGLINTONAVEE98765432190EGLINTONAVEE987654321150EGLINTONAVEE10987654321160EGLINTONAVEE7654321245EGLINTONAVEE432120EGLINTONAVEW222120191817161514131211109876543212200YONGEST17161514131211109876543212221YONGEST6543212300YONGEST302928272625242322212019181716151413121110987654321CLASS BBUILDING AREA 69,824AVAILABLE 33,619NET ASK $17.50ADDITIONAL RENT $17.62GROSS ASK $35.122323YONGEST87654321Eglinton Office MarketTrend MAPInventory & Availability by MarketInventory (SF)Availability (SF)ge/St. Clairban growth50AskingNetRent($)/VacancyRate(%)ntYonge-Bloor8,827,08650%Yonge-St.Clair2,467,40114%Yonge-Eglinton5,077,13428%Toronto West1,423,8178%Yonge-Bloor452,76641%Yonge-St.Clair127,37611%Yonge-Eglinton406,98437%Toronto West121,13411%First Quarter 2013Submarket SnapshotQ4 2012 Q1 2013 TrendOffice Inventory 5,077,134 5,077,134 Net Absorption 5,378 (23,054)  MAPVacancy Rate 6.5% 7.0% Availability Rate 9.2% 8.0% Average Asking Net Rent $14.61 $14.88 Average Additional Rent $17.67 $18.11 Average Asking Gross Rent $32.28 $32.99 Available Supply Split & Gross Rent24 Month TrendClass AAA/AClass BNew Developments UpdateNo new development updates at this time.Class COffice Submarket Dashboard |$37.20$0.00$10.00$20.00$30.00$40.0005001,0001,5002,0002011Q22011Q32011Q42012Q12012Q22012Q32012Q42013Q1Thousands(SF)Not Available Space Direct AvailableSublease Available Gross Rent$33.45$0.00$10.00$20.00$30.00$40.0005001,0001,5002,0002,5003,0002011Q22011Q32011Q42012Q12012Q22012Q32012Q42013Q1Thousands(SF)$27.73$10.00$20.00$30.00$40.005001,0001,500Thousands(SF)Midtown: Yonge-Eglinton$14.887.0%-20-100102030-400-20002004006002011Q22011Q32011Q42012Q12012Q22012Q32012Q42013Q1AskingNetRent($)/VacancyRate(%)Thousands(SF)Absorption Vacancy Rate Average Net RentFirst Quarter 2013Submarket SnapshotQ4 2012 Q1 2013 TrendOffice Inventory 5,077,134 5,077,134 Net Absorption 5,378 (23,054)  MAPVacancy Rate 6.5% 7.0% Availability Rate 9.2% 8.0% Average Asking Net Rent $14.61 $14.88 Average Additional Rent $17.67 $18.11 Average Asking Gross Rent $32.28 $32.99 Available Supply Split & Gross Rent24 Month TrendClass AAA/AClass BNew Developments UpdateNo new development updates at this time.Office Submarket Dashboard |$37.20$0.00$10.00$20.00$30.00$40.0005001,0001,5002,0002011Q22011Q32011Q42012Q12012Q22012Q32012Q42013Q1Thousands(SF)Not Available Space Direct AvailableSublease Available Gross Rent$33.45$0.00$10.00$20.00$30.00$40.0005001,0001,5002,0002,5003,0002011Q22011Q32011Q42012Q12012Q22012Q32012Q42013Q1Thousands(SF)Midtown: Yonge-Eglinton$14.887.0%-20-100102030-400-20002004006002011Q22011Q32011Q42012Q12012Q22012Q32012Q42013Q1AskingNetRent($)/VacancyRate(%)Thousands(SF)Absorption Vacancy Rate Average Net RentMIDTOWN YONGE-EGLINTONCLASS CBUILDING AREA 58,800AVAILABLE 6,808NET ASK $14.00ADDITIONAL RENT $12.98GROSS ASK $26.98124MERTONST54321CLASS CBUILDING AREA 59,570AVAILABLE 8,631NET ASK -ADDITIONAL RENT $15.52GROSS ASK -130MERTONST654321CLASS BBUILDING AREA 66,600AVAILABLE 3,560NET ASK $16.00ADDITIONAL RENT $19.90GROSS ASK $35.90CLASS BBUILDING AREA 105,899AVAILABLE 5,623NET ASK $16.00ADDITIONAL RENT $19.29GROSS ASK $35.29CLASS ABUILDING AREA 101,693AVAILABLE 4,784NET ASK $16.00ADDITIONAL RENT $19.96GROSS ASK $35.96CLASS ABUILDING AREA 128,355AVAILABLE 26,600NET ASK $16.00ADDITIONAL RENT $20.45GROSS ASK $36.45CLASS CBUILDING AREA 31,500AVAILABLE 4,795NET ASK -ADDITIONAL RENT $15.00GROSS ASK -1835YONGEST76543211867YONGEST11109876543211881YONGEST876543211920YONGEST654321G2040YONGEST321Davisville Office Market2STCLAIRAVEE15141312111098765432121STCLAIRAVEE1412111098765432140STCLAIRAVEW1412111098765432145STCLAIRAVEW141211109876543211STCLAIRAVEW121110987654321CLASS ABUILDING AREA 242,242AVAILABLE 3,756NET ASK $19.00ADDITIONAL RENT $21.22GROSS ASK $40.22CLASS ABUILDING AREA 145,425AVAILABLE 17,256NET ASK $18.00ADDITIONAL RENT $23.16GROSS ASK $41.16CLASS BBUILDING AREA 84,464AVAILABLE 12,412NET ASK $15.50ADDITIONAL RENT $17.12GROSS ASK $32.62CLASS BBUILDING AREA 83,660AVAILABLE 2,718NET ASK $13.00ADDITIONAL RENT $21.47GROSS ASK $34.47CLASS BBUILDING AREA 122,519AVAILABLE 2,245NET ASK $14.50ADDITIONAL RENT $20.14GROSS ASK $34.64CLASS BBUILDING AREA 107,443AVAILABLE 5,017NET ASK $14.50ADDITIONAL RENT $17.10GROSS ASK $31.60CLASS BBUILDING AREA 113,264AVAILABLE 9,225NET ASK $21.00ADDITIONAL RENT $21.18GROSS ASK $42.18CLASS ABUILDING AREA 273,740AVAILABLE 20,820NET ASK $26.00ADDITIONAL RENT $24.00GROSS ASK $50.00CLASS BBUILDING AREA 246,295AVAILABLE 3,888NET ASK $18.00ADDITIONAL RENT $21.33GROSS ASK $39.33CLASS BBUILDING AREA 79,318AVAILABLE 6,589NET ASK $13.00ADDITIONAL RENT $14.40GROSS ASK $27.40CLASS BBUILDING AREA 251,065AVAILABLE 32,288NET ASK $18.00ADDITIONAL RENT $20.49GROSS ASK $38.49CLASS BBUILDING AREA 63,370AVAILABLE 14,412NET ASK $13.67ADDITIONAL RENT $17.23GROSS ASK $30.90CLASS ABUILDING AREA 171,744AVAILABLE 1,335NET ASK $19.00ADDITIONAL RENT $22.34GROSS ASK $41.3430STCLAIRAVEW17161514131211109876543212STCLAIRAVEW2120191817161514131211109876543211STCLAIRAVEE1098765432122STCLAIRAVEE2019181716151412111098765432195STCLAIRAVEW181716151412111098765432160STCLAIRAVEE1098765432165STCLAIRAVEE1098765432155STCLAIRAVEW987654321St. Clair Office MarketEGLINTON OFFICE MARKET DAVISVILLE OFFICE MARKETST. CLAIR OFFICE MARKET