The document provides an overview of the office market in Toronto for the third quarter of 2014. It finds that vacancy rates continued to decline in the downtown core while rising in the suburbs. Demand was strongest in the financial and technology sectors, particularly for large spaces downtown. Investment activity remained constrained due to limited supply, though new development projects were attracting investors. Vacancy increased in the midtown area following a large space being sublet. The central north market saw a slowdown in leasing despite low vacancy.
Cushman toronto office leasing market report 2014Chris Fyvie
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Jll commercial real estate market report toronto 2014Chris Fyvie
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Cushman toronto office leasing market report 2014Chris Fyvie
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Jll commercial real estate market report toronto 2014Chris Fyvie
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-U.S. Office Market Was Driven by the Tech
Sector in the Fourth Quarter of 2018
-Absorption exceeds construction completions, vacancy
declines and the pipeline grows
-Tech markets tighten
-Rents rise, but the pace slows:
Leasing volume has been stuck in neutral for several quarters. Nevertheless, activity in the Midtown, Central Perimeter, North Fulton and Northwest remains steady with corporate relocations boosting demand as well.
Outlook
While not as robust as 2018, the market is expected to
maintain its momentum over the course of 2019. Although
market conditions are increasingly becoming landlord
favourable, the market remains quite competitive. Large
occupiers seeking space in the Central area are now looking
to new developments to satisfy their needs as there are very
few large contiguous blocks of available space left in the
market. In the Financial Core, only six options for tenants
seeking 50,000+ sf of space remain. Despite the
disappearance of large available space options and the
significant downward pressure on vacancy rates, landlords
have only marginally increased rent expectations at
approximately 2% annually. A slight year-over-year increase in
average net asking rates is anticipated as a result of Class
AAA deliveries; however, the range of rates is not expected to
change
The report provides key market indicators, trends and forecasting for the #Kitchener, #Waterloo and #Cambridge industrial markets, including vacancy rates, absorption, lease rates, sale prices and recent market transactions. Colliers International #Office #CRE
A presentation from Key-Competences Conference, Baia Mare 25-27 Mai 2007. The published paper, in Romanian, being available in my account at Academia.edu .
office space toronto, toronto office space, office search toronto, office space in toronto, office rentals toronto, commercial office space, commercial real estate toronto, office rent toronto, toronto offices for lease
-U.S. Office Market Was Driven by the Tech
Sector in the Fourth Quarter of 2018
-Absorption exceeds construction completions, vacancy
declines and the pipeline grows
-Tech markets tighten
-Rents rise, but the pace slows:
Leasing volume has been stuck in neutral for several quarters. Nevertheless, activity in the Midtown, Central Perimeter, North Fulton and Northwest remains steady with corporate relocations boosting demand as well.
Outlook
While not as robust as 2018, the market is expected to
maintain its momentum over the course of 2019. Although
market conditions are increasingly becoming landlord
favourable, the market remains quite competitive. Large
occupiers seeking space in the Central area are now looking
to new developments to satisfy their needs as there are very
few large contiguous blocks of available space left in the
market. In the Financial Core, only six options for tenants
seeking 50,000+ sf of space remain. Despite the
disappearance of large available space options and the
significant downward pressure on vacancy rates, landlords
have only marginally increased rent expectations at
approximately 2% annually. A slight year-over-year increase in
average net asking rates is anticipated as a result of Class
AAA deliveries; however, the range of rates is not expected to
change
The report provides key market indicators, trends and forecasting for the #Kitchener, #Waterloo and #Cambridge industrial markets, including vacancy rates, absorption, lease rates, sale prices and recent market transactions. Colliers International #Office #CRE
A presentation from Key-Competences Conference, Baia Mare 25-27 Mai 2007. The published paper, in Romanian, being available in my account at Academia.edu .
Lawsuit brought by a shareholder of Life Partners Holdings, Inc. on behalf of LPHI against the Board of Directors of LPHI, including Brian Pardo, Scott Peden, Fred Dewald, Tad Ballantyne and Harold Rafuse.
Canadian Red Cross Tainted Blood ScandalLeo de Sousa
The Canadian Red Cross Tainted Blood Scandal spanned decades and to this day, individuals, families, groups and the nation feel its deadly impacts. The Canadian national blood supply was contaminated with two infectious viruses, Hepatitis-C and HIV during the late 1970s, 1980s and the early 1990s. This was the worst tragedy in Canadian medical history with over 20,000 Canadians infected after receiving blood or blood factors to treat their illnesses or during surgery.
Making the Case: Social Media for AttorneysCosta DeVault
Costa DeVault presented “Making the Case: Social Media for Attorneys,” to the Volusia/Flagler Association for Women Lawyers. The program covers the basics of social media, and how to market oneself using this modern medium.
This presentation was assembled over several months while teaching a class on "Exploring the Book of Mormon." It draws heavily on works by Dale E. Luffman (The Book of Mormon's Witness to Its First Readers) and Alan D. Tyree (Millions Call it Scripture: The Book of Mormon in the 21st Century) as well as Volume 1 of Mark A Scherer's The Journey of a People: The Era of Restoration, 1820 to 1844. All three works are published by the Community of Christ Seminary Press.
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JLL Louisville Industrial Outlook Q3 2017 Ross Bratcher
Once viewed as a tertiary market and later defined as an emerging distribution hub, Metro-Louisville is now established as an Inland Port and garners the attention of institutional developers, investors and occupiers. Growth in the market has been driv0en by Louisville’s central location within the US as well as the three main employers: UPS, Ford Motor Co., and GE Appliances.
Colliers canada national market snapshot 2020 q4Chris Fyvie
• Although Q4 2020 has brought good news on the vaccine front and removing some of the overall economic uncertainty, we are not in the clear yet and some asset types will take longer to rebound than others.
• The office market continues to experience rising vacancy, predominantly due to rising downtown sublet space. This corresponds with office attendance levels, which are trending below 15% in downtowns, compared to around 30% in the suburbs.
• After a brief pause in activity earlier in the pandemic, the industrial market continued to tighten in Q4 2020. Despite some weakness in bricks and mortar and restaurant distribution as well as in experiential users, strong demand from e-commerce and grocery users drove vacancy down and rents stable.
• The first half of 2021 will remain difficult for many. However, like in 2020, as summer 2021 approaches the economy is expected to thaw. This economic rebound will pick up steam as the vaccine rollout reaches completion.
North American Commercial Real Estate ReportChris Fyvie
We are pleased to share with you the our latest North American Research Report -covering approximately 70 metro areas - demonstrating that the office market in the United States and Canada will continue a steady growth, but will lack in the force and pace of prior cycles. However, positive market trends exist, including strong absorption and declining vacancy rates in all the major U.S. CBDs. Additionally, construction is increasing, but remains below historic highs.
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdfListing Turkey
Tersane Suites Residences is a luxurious real estate project located in the heart of Istanbul, next to the beautiful Golden Horn. This unique development offers hotel concept residences with Rixos management, making it the perfect choice for both homeowners and investors.
The Tersane Suites Residences offers a wide range of options, from studio apartments to spacious four-bedroom units, all designed to the highest standard. The suites are finished with high-quality materials and feature modern, open-plan living spaces, fully-equipped kitchens, and large balconies with stunning views of the city and sea.
One of the standout features of Tersane Suites Residences is the Rixos management, which provides a truly exclusive and upscale living experience. Residents will have access to a range of luxury amenities, including a fitness center, spa, and indoor and outdoor swimming pools. Plus, the on-site restaurants and cafes provide a taste of the local and international cuisine.
The Tersane Suites Residences also offers a great opportunity for investors, as it provides a rental guarantee program. This means that investors can enjoy a steady income stream, with the peace of mind that their property is being managed by a reputable and experienced team.
The location of Tersane Suites Residences is also unbeatable, with easy access to the city’s main transportation links and within close proximity to the historic center, making it the perfect base for exploring all that Istanbul has to offer.
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...JagadishKR1
Experience unmatched luxury at Elegant Evergreen Homes, offering exquisite 2, 3, and 4 BHK apartments in the serene locality of Yelahanka, Bangalore. These meticulously crafted homes blend modern design with timeless elegance, providing a harmonious living environment. Enjoy top-tier amenities and a prime location, making Elegant Evergreen Homes the ideal choice for discerning homeowners.
Keep Your Home Naturally Cool and Warm Out Change in Seasons
Vinra Construction is a private limited company registered under the ROC. The management has an experience of over 15 years of understanding the needs and delivering apt solutions to the end users We are providing turnkey solutions in construction fields. like Construction, Interior Designing Facility Management, Plantation Management, etc..
Vinra Construction Tech Enabled Company for Eco-Friendly Home Construction
Contact With Vinra for a Greener Future >>> Call us @ 888 4898 765
Are you searching for your dream home? Finding the perfect house involves more than just browsing listings; it’s about discovering a space that fits your lifestyle and needs. Whether you’re looking for a cozy suburban home, a chic urban apartment, or a spacious rural property, the right real estate can transform your life. Consider the location, amenities, and potential for future growth. Think about the community, nearby schools, and the convenience of shopping and transportation. A good real estate agent can guide you through the process, from identifying suitable properties to negotiating the best deal. Your dream home is out there, waiting to be found – let’s embark on this journey together!
Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szet...Volition Properties
=== Investing In The US As A Canadian… And How To Do It RIGHT!! (feat. Erwin Szeto) ===
Ever been curious about Real Estate Investing in the US?? At Volition, for the past 14 years, we have been focused on helping investors invest in over $250M of real estate and generate $100M of wealth in the Toronto market, but we are always open to learning more about other business models and learning from other investors.
The US has always been an intriguing market to invest in. But the US is a big place… if you’re interested in investing in the US, you probably have a lot of questions, like:
☑️ Specifically WHERE should you invest?
☑️ What are the best markets to invest in and why?
☑️ How much are property prices there?
☑️ What are the returns like?
☑️ What is cashflow like?
☑️ Compared to investing in Toronto or other cities in Ontario, what are the benefits / tradeoffs?
☑️ What ownership structure should I use?
☑️ What are the tax implications?
☑️ Can I get financing?
☑️ What are tenants like?
Enter Erwin Szeto, a longtime friend of Volition. Since 2005, Erwin Szeto and his team have navigated the challenging landscape of being landlords in Ontario. Now, they are shifting their focus and guiding their clients' investments toward the more landlord-friendly environment of the USA. This decision comes after assisting Canadian clients in transacting over $440,000,000 in income properties. Faced with issues like affordability constraints, tenant-friendly laws, rent control, and rental licensing in Canada, Erwin sees a clear opportunity in the U.S. Here, there is a significant influx of investments leading to the creation of high-paying manufacturing jobs. Erwin and his clients are poised to capitalize on these opportunities where landlord rights are stronger and there is no rent control.
To facilitate this transition, Erwin has partnered with and become a client of SHARE, a one-stop-shop U.S. Asset Manager. Founded by Canadians for Canadians, SHARE enables as passive an ownership experience as possible for landlords in the U.S., while still maintaining direct, 100% ownership.
Erwin is “Making Real Estate Investing Great Again”!!
Website: https://www.infinitywealth.ca/
Facebook: https://www.facebook.com/iwinrealestate and https://www.facebook.com/ErwinSzetoOfficial
Podcast: https://www.truthaboutrealestateinvesting.ca/
Instagram: https://www.instagram.com/iwinrealestate/ and https://www.instagram.com/erwinszeto/
Discover Yeni Eyup Evleri 2, nestled among the rising values of Eyupsultan, offering the epitome of modern living in Istanbul.
With its spacious living areas, contemporary architecture, and meticulous details, Yeni Eyup Evleri 2 is poised to be the star of your happiest moments. Situated in the new favorite district of Eyupsultan, claim your spot and unlock the doors to a peaceful life alongside your loved ones. Nestled next to the historical and natural beauties of Eyupsultan, embrace the comfort of modern living and rediscover life.
Social Amenities:
Yeni Eyup 2 offers a life filled with joy with its green landscaping areas, gym, sauna, children’s play areas, café, outdoor pool, and basketball court. Reserve your place for unforgettable moments!
Reliable Structure:
With 1+1, 2+1, and 3+1 apartment options, Yeni Eyup Evleri 2 is designed with first-class materials and craftsmanship. The doors to a safe and comfortable life are here! Choose the option that suits you best and step into your dream home.
Project:
Yeni Eyup 2 is conveniently located, with Istanbul Airport just 26 minutes away, the Mecidiyeköy Metro Line 4 minutes away, and the Tram Stop 5 minutes away, making your life easier with its central location.
Location:
Your home is positioned in a privileged location, providing easy access to the city center, shopping malls, restaurants, schools, and other important places.
Yeni Eyup 2 offers 1+1, 2+1, and 3+1 apartment options designed to meet different needs. Find an option suitable for every lifestyle and open the doors to a comfortable life in your dream home.
https://listingturkey.com/property/yeni-eyup-evleri-2/
Total Environment Tangled Up In The Green - Residential Plots Where Nature an...JagadishKR1
Embark on a journey where lush landscapes and contemporary living converge at Total Environment's Tangled Up In The Green Residential Plots in Devanahalli, Bangalore. Surrounded by verdant expanses, these plots offer an idyllic setting for your dream home. Immerse yourself in the serenity of nature while enjoying the finest amenities and design, where every moment is a harmonious blend of luxury and tranquility.
One FNG by Group 108 Sector 142 Noida Construction UpdateOne FNG
One FNG by Group 108 is launching a new commercial project in Sector 142 Noida. Office space and high street retail shops on the FNG and Noida Expressway. For more information visit the website https://www.onefng.com/
Rams Garden Bahcelievler - Istanbul - ListingTurkeyListing Turkey
Implemented by Rams Global in Bahcelievler, the Rams Garden Bahcelievler Apartments includes 796 residences of different types from 2+1 to 5+1.
Next to the project, which will have 33 thousand square meters of green area, there will be 42 thousand 300 square meters of woodland. There will also be a 210-meter-long pond in the landscape of the project. There are 94.5 square meters of green space per flat.
Rams Garden Bahcelievler Apartments, which has 8 times more green space than the average of Istanbul with its 33 thousand square meters of green area located within a total of 75 thousand square meters, offers various housing options from 2+1 to 5+1.RAMS Garden has brought a lifeline to the construction industry.
Rams Global, which has signed projects in many places from Dubai to Phuket and delivered more than 20 thousand residences, is now starting new projects in Istanbul.
Rams Garden Bahcelievler is located 9 minutes from Metroport AVM, 5 minutes from Marmara Forum AVM, 12 minutes from Kazlıçeşme beach, 9 minutes from Yıldız Technical University, 7 minutes from Istinye University, 9 minutes from Ramada Hotel and Medicana Hospital.
https://listingturkey.com/property/rams-garden-bahcelievler-apartments/
Referans Bahcesehir which is being constructed, in the center of the most regional destination as Bahçeşehir, shines out with its central location and unique landscape including social facilities such as a fitness center, sauna, sports facilities, children’s playground and recreational areas.
Not only drawing attention for immediate surroundings including commercial centers and private schools but also providing the easily accessible location with closeness to Tem Highway and connection roads, ongoing construction of 3rd Bridge Connection roads and Metro Projects
Bahcesehir is a rising value in the great city of Istanbul… Located at a new transportation junction in the northwest of the City… Located at such a spot that the access roads for the 3rd bridge and for the 3rd Airport will reach the region in 2016. The Marmaray and the Subway will extend all the way to Referans Bahcesehir respectively in 2018 and 2019.
465 flats and 34 stores are designed with an outstanding approach and arranged with a unique perspective offering the following options: 1 plus 1, 2 plus 1, 3 plus 1, 3.5 plus 1, 4 plus 1, and 4.5 plus 1. It is planned so as to safeguard you and your loved ones based upon a modern, technological safety approach. As you experience the joy and luxury here, you will be content and feet at ease.
It is worth seeing both inside and outside with heart-warming cafes, tasty restaurants and elegant stores… And it is ready to offer a vivacious social life with a warm and cozy space design.
A folding swimming pool and indoor swimming pools, playgrounds, Turkish bath, sauna… It has them all. Everything you need for your well-being and for having a pleasant time will be at your service. You simply need to align the rhythm of life with the rhythm of Referans Bahcesehir.
https://listingturkey.com/property/referans-bahcesehir/
The KA Housing - Catalogue - Listing TurkeyListing Turkey
Welcome to KA Housing, a distinguished real estate development nestled in the heart of Eyüpsultan, one of Istanbul’s most promising districts.
Just 10 minutes from the bustling city center, Eyüpsultan offers a serene escape with the convenience of urban living. The direct metro line ensures seamless connectivity to all parts of Istanbul, making it an ideal location for residents who seek both tranquility and vibrancy.
KA Housing boasts unparalleled accessibility, with proximity to Istanbul Airport only 30 minutes away, facilitating easy international travel. Effortless city access is guaranteed by direct metro and transportation links to Istanbul’s cultural and commercial hubs. Quick access to key metro lines connects you to every corner of the city within minutes, making commuting and exploring the city hassle-free.
The development offers luxurious living spaces with a range of unit layouts from 1+1 to 4+1, designed with meticulous attention to detail. Each unit features balconies or terraces, providing stunning vistas of Istanbul and enhancing the living experience. High-quality materials and superior craftsmanship ensure durability and elegance, while sound-proof insulation and high ceilings (2.95 m) offer comfort and sophistication.
Residents of KA Housing enjoy exclusive on-site amenities, including a state-of-the-art gym, outdoor swimming pool, yoga area, and walking paths. Entertainment options abound with a private cinema, children’s playground, and a variety of dining options including a café and restaurant. Security and convenience are paramount with 24/7 security, a dedicated carpark garage, and an IP intercom system.
KA Housing represents a prime investment opportunity with limited availability in a high-demand area, ensuring enduring value and potential for lucrative returns. Homes in this development provide exceptional value without compromising on quality, offering affordable luxury for discerning buyers. The construction is of the highest quality, built to the latest seismic and disaster resistance standards, ensuring safety and resilience.
The community and surroundings of KA Housing are enriched by close proximity to prestigious universities such as Haliç University, Bilgi University, and Istanbul Ticaret University, making it an ideal location for students and academics. The development is adjacent to the Alibeyköy stream leading into the Halic waters, offering serene natural escapes amidst lush greenery. Residents can enjoy the cultural richness of the area, surrounded by historical and cultural landmarks that blend leisure, nature, and culture seamlessly.
https://listingturkey.com/property/the-ka-housing/
Brigade Insignia offers meticulously designed apartments with modern architecture and premium finishes. The project features spacious 3,3.5,4 and 5 BHK units, each thoughtfully planned to provide maximum comfort, natural light, and ventilation.
https://www.newprojectbangalore.com/brigade-insignia-yelahanka-bangalore.html
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
Sense Levent Kagithane Catalog - Listing TurkeyListing Turkey
Sense Levent offers a luxurious living experience in the heart of Istanbul’s vibrant Levent district.
This cutting-edge development seamlessly integrates modern design with natural elements, featuring live evergreen plants maintained by an advanced irrigation system, ensuring lush greenery year-round.
The building’s elegant ceramic balconies are both stylish and durable, enhancing the overall aesthetic and functionality. Residents can enjoy the 700m Sky Lounge, which provides breathtaking views of Istanbul and a perfect space to relax and unwind.
Sense Levent promotes a healthy and active lifestyle with a full gym, swimming pool, sauna, and steam room, all available in the building. The interiors are crafted with high-quality materials, ensuring a luxurious and inviting living space.
Designed with young professionals in mind, Sense Levent features 1+1 and 2+1 units with smart floor plans and balconies. The project promises high investment returns, with an expected annual return of 6.5-7%, significantly above Istanbul’s average ROI.
Located in the rapidly growing and highly desirable Levent area, the development benefits from ongoing urban regeneration projects. Its prime location offers proximity to shopping malls, municipal buildings, universities, and public transportation, adding immense value to your investment.
Early investors can take advantage of discounted units during the construction phase, with an expected capital appreciation of +45% USD upon completion. Property Turkey provides comprehensive rental management services, ensuring a seamless and profitable investment experience.
Additionally, robust legal support and significant tax advantages are available through Property Turkey’s licensed Real Estate Investment Fund. Levent is a dynamic urban hub, ideal for young professionals with its numerous corporate headquarters and shopping malls.
Sense Levent is more than just a residence; it’s a place where dreams and opportunities come to life. Contact us today to secure your place in this exclusive development and experience the best of Istanbul living. Sense Levent: Sense the Opportunity. Live the Dream.
https://listingturkey.com/property/sense-levent/
Simpolo Tiles & Bathware
Tile ho,
toh Simpolo.
Since the first steps were taken in 1977, Simpolo Ceramics has carved its niche as a consistently growing organisation with unparalleled innovation and passion rooted in simplicity.
We endure gratification for every experience we offer, created to share something meaningful. It may not resonate with the majority, but that makes us a class apart. If only a handful were to understand the purpose of our existence, we would be proud to have found our believers. Rather, people with whom we can share our beliefs.
VISUALIZER
Design your space in your style with our very own Visualizer. Now, you can choose the tiles of your liking from our wide selection and see how they would look in a space. Select the tile from the multiple options and the visualiser will replace the surfaces in the image with the selected tiles. This way, instead of just your imagination, you can choose the tiles for your place by getting an actual picture of how they would look in a space. So, design your space the way you desire digitally and implement it in real life to get the best results!
You can also share this visualiser with others to help them design their space.
Committed to delighting customers with world-class ceramic products and services. Make Simpolo synonymous with the best quality and set new benchmarks of excellence for all stakeholders. Pursue best business practices with utmost integrity to make Simpolo an exciting organisation to work with, for vendors, channel partners, investors and employees alike.
Gain worldwide recognition in the field of ceramic building products through Research and Innovation and bring an enhanced lifestyle within reach for every household.
Torun Center Residences Istanbul - Listing TurkeyListing Turkey
THERE IS LIFE IN ITS CENTER!
The most energetic spot of the city that will add utterly different pleasures to your life, with a park that will make Istanbul breathe, delighting indoor and outdoor bistros, cafes, restaurants, the brand-new Food Hall concept, where dozens of unique tastes are served together, market area, cinema, theater, fitness club, SPA and event venue...
All the pleasures that will enrich your lives are awaiting you on the most beautiful side of the city, at Torun Center Residences. In Mecidiyeköy, where the heart of Istanbul beats, business, life and entertainment opportunities are located at the exact center, at Torun Center, the most beautiful side of the city.
Penthouse apartments and different styles of flats from 1 + 1 to 4 + 1, from 100 to 425 square meters in a 42-story residence tower, have been designed for those who want to live in the center of magnificence. Torun Center is the redefinition of a better life with specially landscaped floor gardens, apartment options with private balconies, and automatic glass systems equipped with Trickle Ventilation that offers clean air comfort.
Business and life in the same place
Excellent service
Torun Center has many delightful details, from a swimming pool to sunbathing and resting terrace. With 24/7 concierge services, 24/7 security, valet, technical service, closed-circuit camera system (CCTV), central heating and cooling system, it makes your life easier.
Delightful details
The two-story Torun Center Lounge, with its indoor and outdoor seating areas, children's playroom, private dining and TV lounge, promises unforgettable memories to you and your loved ones with its unique Istanbul view.
Neighboring to the most pleasant square of Istanbul
A few steps from the Torun Center Residences, you can reach the city's most modern city square and open the doors of a quality city life. Torun Center Residences brings together on the same project the long-awaited city life for Istanbul and gourmet restaurants, cafes, gym and SPA, and state-of-the-art cinema and Artı Stage, hosting the most famous plays of the season.
Located at the intersection of alternative public transportation options such as the metro and Metrobus, Torun Center comes to the fore as the most accessible office for both sides of Istanbul. With a central location and rich transportation lines, Torun Center offices make life easier for employees and increase productivity.
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
500 acres of brilliance await you here at Riverview City which offers modern living, effortless convenience, and a beautiful natural setting. It is a mega township by Magarpatta City in Loni Kalbhor, Pune. Enjoy easy access to work, schools, and fun while experiencing a perfect work-life balance.
Visit - magarpattacity.developerprojects.in
2. MARKET OVERVIEW
Toronto’s central markets are continuing to exhibit strong tenant
demand, specifically, the Downtown market where vacancy is
still on the decline, we are reporting 3.5% this quarter. Deal
activity is up and deals are being done in large pockets of
upcoming vacant space as well as in upcoming new builds. In the
Suburban markets, we are seeing a very different trend with
vacancy is rising in every major market since the last quarter.
The high vacancy rates in some suburban areas connect to the
pattern of employers seeking central locations where their talent
pool is choosing to walk or commute to work. In addition, traffic
congestion and long commute times in parts of the GTA, have
been another significant driver to workforces taking up residence
in centrally-located hubs in and around the city. Companies are
beginning to address the link between heathy bottom lines and
ease of accessibility for their employees.
INVESTMENT MARKET
The trend of limited available large-scale office product continues
throughout the Toronto market. Only a handful of larger deals
have made it to market this year, with 180 Wellington Street West
being the notable deal for Q3. A stable REIT market has caused
constraints on the supply of purchasing opportunities which has
buoyed aggressive pricing within the GTA. Assets located in the
Downtown core are seeing aggressive lifts in terms of valuations,
while potential vendors of non-core assets continue to look for
similar figures to Q2. This has only added to lack of deals being
completed and additional pushback from buyers for non-core /
suburban product. Investors are not willing to apply value to
vacant assets in the suburban markets and continue to stay
HISTORICAL PERFORMANCE AND FORECAST
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
-
(500,000)
THIRD QUARTER 2014
2014 Q1 2014 Q2 TREND
Office Inventory 184,344,128 184,381,007
Net Absorption (66,258) (321,035)
Vacancy Rate 6.1% 6.3%
Availability Rate 10.2% 10.3%
Average Asking Net Rent $18.63 $18.11
Average Additional Rent $16.94 $15.66
Average Asking Gross Rent $35.56 $33.77
*There are 2,044 office buildings surveyed in the GTA ** Average Rents are calculated using a weighted average.
focused on transit-oriented assets. Development of new office
product is filling the current void for opportunity-starved
investors, but quality sites and large-lead tenants remain scarce.
CURRENT TENANT DEMAND
The financial services sector is leading the pack with regards to
demand for office space this quarter. Banks, investment
companies and credit rating service providers are the leading
tenants looking for large pockets of space, mainly in the Downtown
market. The strength in the GTA housing market, and the upward
momentum in prices, has provided a boost to consumer-oriented
industries as well as the financial services sector. The second
largest industry demanding space is the tech sector. The tech
industry is continuing to gain momentum within the Toronto
market as international companies are beginning to view Canada
as a viable expansion opportunity.
10.0%
9.0%
8.0%
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
(1,000,000)
2010 Q3
2011 Q1
2011 Q2
2011 Q3
2011 Q4
2012 Q1
2012 Q2
2012 Q3
2012 Q4
2013 Q1
2013 Q2
2013 Q3
2013 Q4
2014 Q1
2014 Q2
2014 Q3
2014 Q4
2015 Q1
2015 Q2
2015 Q3
Net Absorption New Supply Vacancy Rate
10.0%
9.0%
8.0%
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
2011 Q3
2011 Q4
2012 Q1
2012 Q2
2012 Q3
2012 Q4
2013 Q1
2013 Q2
2013 Q3
2013 Q4
2014 Q1
2014 Q2
2014 Q3
2014 Q4
5%
5%
2015 Q1
2015 Q2
Net Absorption New Supply Vacancy Rate
Financial Services
Technology/Software/Internet
Media/Marketing/Advertising
Architectural/Engineering
Wholesale Trade
Legal Services
Institutional
Retail Trade
Asset Management/Pension
Other*
27%
19%
11%
10%
7%
4%
3%
9%
*
SEPTEMBER 2014
3,129,000 SF
Other includes Security Services, Automotive Manufacturing/Printing, Communications/IT,
Construction/Mining, Insurance, Hospitality, Travel Services, Consulting
OFFICE MARKET SUMMARY
GTA MARKET OVERVIEW
3. TABLE OF
CONTENTS
MARKET SUMMARIES
Downtown 1
Midtown 2
Central North 3
Central East 4
GTA East 5
GTA North 6
GTA West 7
GLOSSARY 8
FORECAST ASSUMPTIONS 8
4. Yonge St
Bloor St
Dufferin Bay Bloor / Yonge
TORONTO
13
12 148 9
6 3
16
Union
Wellesley
College St
Dundas
Castlefrank
University Ave
Queen’s Park
Dundas St
Spadina Ave
Queen St
King St
Parliament St
4
Dufferin St
1
5
2
11
Gardiner Expwy
7
15
10
1,800,000
1,600,000
1,400,000
1,200,000
1,000,000
800,000
600,000
400,000
200,000
0
1,800,000
1,600,000
1,400,000
1,200,000
1,000,000
800,000
600,000
400,000
200,000
0
OFFICE MARKET SUMMARY
DOWNTOWN
NOTABLE NEW SUPPLYPCOMING NEW SUPPLY
ADDRESS STATUS COMPLETION DATE CLASS FLOORS OFFICE AREA (SF) DEVELOPER
10. 88 Queens Quay Under Construction Q4 2014 AAA 30 933,020 Oxford Properties Group
11. 120 Bremner Boulevard Under Construction Q4 2014 A 30 732,480 GWL Realty Advisors Inc.
12. 134 Peter Street Under Construction Q2 2015 A 17 299,178 Allied Properties REIT
13. 22 Adelaide Street West Under Construction Q1 2016 AAA 44 1,020,000 Brookfield Financial Real Estate Group
14. 351 King Street East Under Construction Q2 2016 A 17 500,000 First Gulf Corporation
15. 1 York Street Under Construction Q3 2016 A 35 800,000 HOOPP / Menkes
16. 100 Adelaide Street W Under Construction Q2 2017 AAA 40 905,722 Oxford Properties Group
1
TRENDS
Notable Lease Notable Sale New Supply
Lake Ontario
HISTORICAL PERFORMANCE AND FORECAST
9.0%
8.0%
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
-200,000
2010 Q3
2010 Q4
2011 Q1
2011 Q2
2011 Q3
2011 Q4
2012 Q1
2012 Q2
2012 Q3
2012 Q4
2013 Q1
2013 Q2
2013 Q3
2013 Q4
2014 Q1
2014 Q2
2014 Q3
2014 Q4
2015 Q1
2015 Q2
2015 Q3
Net Absorption New Supply Vacancy Rate %
-200,000
2010 Q2
2010 Q3
2010 Q4
2011 Q1
2011 Q2
2011 Q3
2011 Q4
2012 Q1
2012 Q2
2012 Q3
2012 Q4
2013 Q1
2013 Q2
2013 Q3
2013 Q4
2014 Q1
2014 Q2
2014 Q3
Net Absorption New Supply Vacancy Rate %
The Downtown market is continuing to see a decline in vacancy
this quarter. Leasing activity has been strong and leases are being
done in large blocks of space in existing office inventory in
addition to properties that are still under construction. The
Financial Core continues to command high rental rates and Class
A and AAA Tenants. However, although new supply is delivered
to the Downtown South market in the coming months, vacancy is
expected to rise in Financial Core as big block tenants, such as
Marsh Mercer, take space southward. With roughly 5.19 million
square feet of office development currently under construction in
the Downtown market, we will see landlords of older assets begin
to upgrade their properties, seek sustainability through LEED or
BOMA certifications and compete for deals on price.
»» RBC WaterPark Place and Bremner Tower are set to be completed in
Q4 2014 and will deliver more than 1.6 million square feet of office
inventory to the Downtown South market. Both new towers are
approximately 80 percent preleased.
»» New builds are experiencing interest from tenants who are located in
B class assets in addition to tenants from suburban markets.
»» There has been growth in small to mid-sized tenants who are
increasing their space requirements.
»» Downtown West fringe office assets are experiencing significant
increases in taxes and operating costs beyond inflation. This rise in
additional cost could have a substantial impact on net rents for
properties in this market.
2014 Q1 2014 Q2 TREND
Office Inventory* (SF) 70,514,344 70,479,113
Net Absorption (SF) 134,792 107,423
Vacancy Rate 3.6% 3.5%
Availability Rate 8.4% 7.7%
Average Asking Net Rent** $26.18 $26.83
Average Additional Rent $23.81 $24.61
Average Asking Gross Rent** $49.99 $51.45
*There are 488 office buildings surveyed in the GTA ** Average Rents are calculated using a weighted average.
NOTABLE LEASE TRANSACTIONS
TENANT TYPE ADDRESS APPROX.
SIZE (SF)
1. National Bank Headlease 130 King St West 130,000
2. Amazon Headlease 120 Bremner Blvd 108,000
3. Scotiabank Headlease 1 Adelaide St East 56,980
4. Valencia Ventures Headlease 65 Queen St West 21,940
5. BDO Canada LLP Headlease 123 Front St West 17,347
NOTABLE SALE TRANSACTIONS
PURCHASER PRICE ADDRESS APPROX.
SIZE (SF)
6. Allied Properties REIT $100,000,000 555 Richmond St West 297,294
7. 25 Liberty Management $16,351,000 25-35 Liberty St
& 51-65 Jefferson Ave 70,000
8. Bel-Three Property
Management $16,000,000 53 Ontario St
& 102 Berkeley St 48,744
9. Youth & Phil. Initiative $9,500,000 573 King St East 18,150
5. 2
OFFICE MARKET SUMMARY
MIDTOWN
Bloor St
Dundas St
Queen St
Eglinton Ave
Lansdowne Ave
Yonge St
Bayview Ave
Dufferin St
Lawrence Ave
Gardiner Expwy
31
2
TORONTO
NOTABLE SALE TRANSACTIONS
TENANT PRICE ADDRESS APPROX.
SIZE (SF)
1. Ponte Gadea Group $254,500,000 150 Bloor St West 274,329.00
2. Oxford/CT REIT $93,620,439 "Canada Square" 843,675.00
3. First Capital Realty $8,000,000 30/30A Hazelton
Avenue 12,780.00
HISTORICAL PERFORMANCE AND FORECAST
8.0%
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
200,000
150,000
100,000
50,000
0
-50,000
-100,000
2010 Q3
2010 Q4
2011 Q1
2011 Q2
2011 Q3
2011 Q4
2012 Q1
2012 Q2
2012 Q3
2012 Q4
2013 Q1
2013 Q2
2013 Q3
2013 Q4
2014 Q1
2014 Q2
2014 Q3
2014 Q4
2015 Q1
2015 Q2
2015 Q3
Net Absorption New Supply Vacancy Rate %
TRENDS
Notable Sale
The Midtown market is seeing an increase in availability since last
quarter, which has been impacted by the Manulife space at 250 Bloor
Street East coming onto the market. There are currently two large
space opportunities of more than 30,000 square feet in the Yonge and
Bloor submarket. Although there is healthy leasing activity in small-to
mid-sized space opportunities, big block leasing velocity is down in
the Midtown market. Large tenants are choosing to take space
southward, such as LinkedIn vacating its space at Yonge and Eglinton
this quarter to relocate to a new office Downtown.
»» There are currently 26 active condominium development projects
underway in the Yonge-Bloor submarket. Eight of these
developments are currently under construction.
»» Yonge-Eglinton has seen a slowdown in transaction volume this
quarter. Tenants looking to relocate to Yonge-Eglinton have been
deterred by the construction of the Crosstown light rail which has
caused traffic congestion in the area.
2014 Q1 2014 Q2 TREND
Office Inventory* (SF) 17,447,313 17,435,725
Net Absorption (SF) (22,900) 38,411
Vacancy Rate 4.8% 4.6%
Availability Rate 7.8% 8.4%
Average Asking Net Rent** $18.43 $18.78
Average Additional Rent $19.11 $19.43
Average Asking Gross Rent** $37.54 $38.21
*There are 208 office buildings surveyed in the GTA ** Average Rents are calculated using a weighted average.
6. OFFICE MARKET SUMMARY
CENTRAL NORTH
Although vacancy rates continue to remain low in the Central
North market, this market has seen a dramatic slowdown in
transaction volume especially in the North Yonge Corridor.
Availability in the sublet market remains high with 32.2 percent
of available space being sublet. Landlords competing in the
sublease market are being directly affected by the slowdown in
the market. For tenants looking to relocate to the Central North
market, this is an ideal time to secure an aggressively priced
deal on a sublease space.
»» The types of deals taking place this quarter have most commonly
been short-term renewals as tenants are choosing to wait for the
market to change and bring new space and price opportunities.
3
Finch Ave
Sheppard Ave
Highway 401
Lawrence Ave
Highway 400
Yonge St
Sheppard
Finch
NOTABLE LEASE TRANSACTIONS
TENANT TYPE ADDRESS APPROX.
SIZE (SF)
1. Hagger Canada Co. Headlease 777 Supertest Road 23,178
2. Bluecat Networks Inc. Headlease 4101 Yonge Street 20,380
NOTABLE NEW SUPPLY
ADDRESS STATUS CLASS FLOORS TOTAL OFFICE AREA (SF) DEVELOPER
3. 2 Anndale Drive Under Construction A 10 210,000 Hullmark/Tridel
4. 4050 Yonge Street Planned 7 367,000 Build Toronto Inc.
5. 4800 Yonge Street Planned A 25 393,000 Oxford Properties Group
Bayview Ave
Keele St
Steeles Ave
Eglinton Ave
Jane St
Bathurst St
Old Cummer
Oriole
York University
5
Weston
4
1
2
3
TORONTO
VAUGHAN
Lawrence
Downsview
Lawrence West
Eglinton West Eglinton
HISTORICAL PERFORMANCE AND FORECAST
9.0%
8.0%
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
250,000
200,000
150,000
100,000
50,000
-
(50,000)
(100,000)
2010 Q3
2010 Q4
2011 Q1
2011 Q2
2011 Q3
2011 Q4
2012 Q1
2012 Q2
2012 Q3
2012 Q4
2013 Q1
2013 Q2
2013 Q3
2013 Q4
2014 Q1
2014 Q2
2014 Q3
2014 Q4
2015 Q1
2015 Q2
2015 Q3
Net Absorption New Supply Vacancy Rate %
TRENDS
Notable Lease New Supply
2014 Q1 2014 Q2 TREND
Office Inventory 11,000,461 11,000,461
Net Absorption 7,608 10,543
Vacancy Rate 2.4% 2.3%
Availability Rate 6.1% 5.4%
Average Asking Net Rent $16.56 $17.06
Average Additional Rent $19.54 $19.88
Average Asking Gross Rent $36.10 $36.94
*There are 112 office buildings surveyed in the GTA ** Average Rents are calculated using a weighted average.
7. 4
OFFICE MARKET SUMMARY
CENTRAL EAST
Highway 407
Eglinton Ave
Steeles Ave
Finch Ave
Highway 404
Yonge St
Victoria Park Ave
3
Kennedy Ave
Sheppard Ave
Highway 401
Markham Rd
6
Keele St
1
2
4
5 SCARBOROUGH
TORONTO
Finch
Kennedy
Union
Lake Ontario
NOTABLE LEASE TRANSACTIONS
TENANT TYPE ADDRESS APPROX.
SIZE (SF)
1. Lenovo Headlease 55 Idema Road 36,000
2. Hidi Rae Consulting
Engineers Inc. Headlease 156 Gordon Baker Road 24,069
NOTABLE SALE TRANSACTIONS
PURCHASER PRICE ADDRESS APPROX.
SIZE (SF)
3. 7300 Warden Business
Park Inc. $23,500,000 7300 Warden Avenue 141,296
Leasing activity within the Central East market remains steady,
with reported vacancies shifting downward since Q2 2014.
Notably, Woodbine-Steeles and Consumers Road submarkets
have seen heightened leasing activity and positive absorption
this quarter. Deals are taking place in small to mid-sized space
opportunities.
»» The Toronto East market remains tight and has seen minimal
leasing activity with no reported absorption since Q2 2014.
However, with a reduction in the amount of available B and C
class space this quarter, we expect to see vacancies get filled in
the coming months.
NOTABLE NEW SUPPLY
ADDRESS STATUS CLASS FLOORS TOTAL OFFICE AREA (SF) DEVELOPER
4. 1 Steelcase Road West Planned 18 400,500 Liberty Development Corporation
5. 101 Gordon Baker Road Planned A 12 250,000 Osmington Inc.
6. 3377 Steeles Avenue East Planned A 6 280,000 Bentall Real Estate Services
HISTORICAL PERFORMANCE AND FORECAST
10.0%
9.0%
8.0%
7.0%
6.0%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
400,000
300,000
200,000
100,000
0
-100,000
-200,000
-300,000
2010 Q3
2010 Q4
2011 Q1
2011 Q2
2011 Q3
2011 Q4
2012 Q1
2012 Q2
2012 Q3
2012 Q4
2013 Q1
2013 Q2
2013 Q3
2013 Q4
2014 Q1
2014 Q2
2014 Q3
2014 Q4
2015 Q1
2015 Q2
2015 Q3
Net Absorption New Supply Vacancy Rate %
TRENDS
Notable Lease Notable Sale New Supply
2014 Q1 2014 Q2 TREND
Office Inventory 17,502,819 17,560,537
Net Absorption (20,447) 49,893
Vacancy Rate 8.3% 8.0%
Availability Rate 10.2% 10.5%
Average Asking Net Rent $12.99 $13.15
Average Additional Rent $14.60 $14.63
Average Asking Gross Rent $27.59 $27.78
*There are 213 office buildings surveyed in the GTA ** Average Rents are calculated using a weighted average.
8. OFFICE MARKET SUMMARY
GTA EAST
There has been a slowing in leasing activity in the GTA East
market. The Pickering and Oshawa submarket reported an 8.6
percent vacancy in Q2 2014. Since then, we have seen a
significant jump in vacancy up to 11.4 percent this quarter. The
two properties: 1600 Champlain Avenue and 2 Simcoe Street
South directly affected the increase in vacancy within the
Pickering and Oshawa submarket as both properties had large
vacancies this quarter.
»» NERs remain stagnant within this market due to a slowing of
leasing activity.
5
Taunton Rd
Kingston Rd
Highway 407
Brock Rd
Harmony Rd
Steeles Ave
Sheppard Ave
Highway 401
Scarborough
Town Centre
Stouffville
Pickering Oshawa
Markham
1
2
TORONTO
OSHAWA
PICKERING
Lake Ontario
NOTABLE LEASE TRANSACTIONS
TENANT TYPE ADDRESS APPROX.
SIZE (SF)
1. Public Works and Government
Services Canada Headlease 55 Town Centre
Court 17,360
NOTABLE NEW SUPPLY
ADDRESS STATUS CLASS FLOORS TOTAL OFFICE AREA (SF) DEVELOPER
2. 65 Bayly Street West Under Construction 2 31,500 Medallion Corporation
HISTORICAL PERFORMANCE AND FORECAST
14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
250,000
200,000
150,000
100,000
50,000
0
-50,000
-100,000
-150,000
2010 Q3
2010 Q4
2011 Q1
2011 Q2
2011 Q3
2011 Q4
2012 Q1
2012 Q2
2012 Q3
2012 Q4
2013 Q1
2013 Q2
2013 Q3
2013 Q4
2014 Q1
2014 Q2
2014 Q3
2014 Q4
2015 Q1
2015 Q2
2015 Q3
Net Absorption New Supply Vacancy Rate %
TRENDS
Notable Lease New Supply
2014 Q1 2014 Q2 TREND
Office Inventory 6,788,611 6,788,611
Net Absorption 33,517 (41,201)
Vacancy Rate 8.6% 9.2%
Availability Rate 7.3% 9.0%
Average Asking Net Rent $12.38 $11.91
Average Additional Rent $15.32 $14.40
Average Asking Gross Rent $27.70 $26.30
*There are 100 office buildings surveyed in the GTA ** Average Rents are calculated using a weighted average.
9. 6
OFFICE MARKET SUMMARY
GTA NORTH
Availability within the GTA North market has risen since last
quarter – B class space in particular has jumped from 10.2
percent in Q2 2014 to 17.7 percent this quarter. With a rise in the
amount of available space in the GTA North market, leasing
activity has increased, particularly within the Highway 404 and
Highway 407 submarket. This submarket has experienced an
increase in transaction volume with properties leasing up large
amounts of space. Notably, 125 Commerce Valley Drive has done
80,000 square feet in deals within the last three months.
TRENDS
»» Technology companies remain major occupiers within the GTA
North market.
»» While there is a trend for large multinational companies like Coca
Cola and Apple taking space in Downtown market, there is still
value and demand for office space located near highways in
suburban markets. Seasoned employees and senior executives
with established lifestyles in the suburbs are opting to drive home
from work rather than commute.
Wellington St
Warden Ave
9 7 11
Notable Lease Notable Sale New Supply
2014 Q1 2014 Q2 TREND
Office Inventory 14,237,090 14,272,800
Net Absorption (45,745) (88,532)
Vacancy Rate 7.8% 8.4%
Availability Rate 12.3% 14.0%
Average Asking Net Rent $16.24 $15.93
Average Additional Rent $11.69 $11.87
Average Asking Gross Rent $27.93 $27.80
*There are 224 office buildings surveyed in the GTA ** Average Rents are calculated using a weighted average.
Newmarket
Stouffville
Richmond
Hill
King City
Highway 407
Yonge St
Stouffville Rd
Steeles Ave
King Rd
McCowan Rd
Highway 27
Davis Dr
1 2 3
4 5
6
10
8
VAUGHAN 12
RICHMOND HILL
MARKHAM
AURORA
NOTABLE LEASE TRANSACTIONS
TENANT TYPE ADDRESS APPROX.
SIZE (SF)
1. Morrison Hershfield Headlease 125 Commerce Valley
Drive West 50,484
2. Leisureworld Senior
Care Corporation Headlease 302 Town Centre
Boulevard 27,950
3. Lexmark Headlease 125 Commerce Valley
Drive West 24,000
4. OnX Inc. Headlease 165 Commerce Valley
Drive 16,000
NOTABLE SALE TRANSACTIONS
PURCHASER PRICE ADDRESS APPROX.
SIZE (SF)
5. McCormick Holdings
Canada Inc. $10,600,000 80 Micro Court 84,364
6. Mohawk Medical
(Mohawk Vaughan Inc.) $24,250,000 8333 Weston Road 60,000
NOTABLE NEW SUPPLY
ADDRESS STATUS CLASS FLOORS TOTAL OFFICE AREA (SF) DEVELOPER
7. 9131 Keele Street Completed B 1 45,104 Melrose Investments Incorporated
8. KPMG Tower - VMC Under Construction A 15 300,000 Calloway REIT/Smart Centres
9. 3100 Rutherford Road Under Construction 4 64,769 Lorwood Holdings Inc. - Elmgate Holdings
10. 180 Bass Pro Mills Drive Under Construction 3 39,000 The Typhon Group Ltd.
11. 2833 16th Avenue Planned A 60 9,000,000 Cadillac Fairview
12. 2320 Steeles Avenue West Planned A 8 232,000 The Milestone Group
HISTORICAL PERFORMANCE AND FORECAST
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
250,000
200,000
150,000
100,000
50,000
0
-50,000
-100,000
-150,000
2010 Q3
2010 Q4
2011 Q1
2011 Q2
2011 Q3
2011 Q4
2012 Q1
2012 Q2
2012 Q3
2012 Q4
2013 Q1
2013 Q2
2013 Q3
2013 Q4
2014 Q1
2014 Q2
2014 Q3
2014 Q4
2015 Q1
2015 Q2
2015 Q3
Net Absorption New Supply Vacancy Rate %
10. OFFICE MARKET SUMMARY
GTA WEST
7
Kipling
Georgetown
Milton
Burlington
Lake Ontario
QEW
Highway 407
7 13
8110112 9 2
Highway 403
Highway 427
Highway 10
Highway 401
Highway 6
1
3
4
5
6
MISSISSAUGA
TORONTO
BRAMPTON
OAKVILLE
MILTON
NOTABLE SALE TRANSACTIONS
PURCHASER PRICE ADDRESS APPROX.
SIZE (SF)
6. Scepter Corporation
(Shi Properties Inc.) $6,400,000 1060 Speers Road 27,200
The GTA West market saw a rise in vacancy since last quarter.
The Airport West submarket was the largest contributor to the
rise in vacant space where Blackberry vacated approximately
238,800 square feet of space at 4701 and 4715 Tahoe Boulevard
causing significant negative absorption this quarter. Although
the velocity of deals taking place has slowed since last year,
there is still a concentration of markets that are seeing
momentum in lease deals and continued growth through
developer interest. These markets are Meadowvale, Sheridan-
Winston and Oakville. Notably, all three of these markets are
directly intersecting with at least two major highways.
TRENDS
»» Developer interest remains strong in the GTA West where there
are numerous office developments totaling an estimated 1,175,520
square feet of new inventory to be delivered to the market in the
coming years.
»» There are several large RFPs in the market between 50,000 and
150,000 square feet.
Notable Lease Notable Sale New Supply
NOTABLE LEASE TRANSACTIONS
TENANT TYPE ADDRESS APPROX.
SIZE (SF)
1. Newsprint Productions Headlease 2200 Islington Ave 47,517
2. PWGSC Headlease 2 Robert Speck Parkway 37,266
3. AV Net Headlease 6950 Creditview Rd 27,000
4. IPEX Headlease 1425 North Service Rd 22,800
5. Bentley Canada Inc. Headlease 5046 Mainway Drive 19,350
2014 Q1 2014 Q2 TREND
Office Inventory 46,853,490 46,843,760
Net Absorption (153,083) (397,572)
Vacancy Rate 9.6% 10.5%
Availability Rate 14.5% 15.2%
Average Asking Net Rent $15.27 $15.50
Average Additional Rent $12.71 $11.22
Average Asking Gross Rent $27.98 $26.72
*There are 699 office buildings surveyed in the GTA ** Average Rents are calculated using a weighted average.
NOTABLE NEW SUPPLYPCOMING NEW SUPPLY
ADDRESS STATUS CLASS FLOORS TOTAL OFFICE AREA (SF) DEVELOPER
7. 7025 Langer Drive Completed A 3 64,613 GWL Realty Advisors Inc.
8. 6600 Financial Drive Completed B 44,960 2725312 Canada Inc. Bentall Capital
9. 4980 Tahoe Boulevard Under Construction A 6 202,000 Metrus Properties Ltd.
10. 60 Standish Court - West Tower Under Construction A 7 179,000 Orlando Corporation
11. 60 Standish Court - East Tower Under Construction A 6 156,000 Orlando Corporation
12. 1 Prologis Boulevard Under Construction A 5 146,863 Healthcare of Ontario Pension Plan
13. 5015 Spectrum Way Under Construction A 5 134,000 HOOPP-Healthcare of Ontario Pension Plan
HISTORICAL PERFORMANCE AND FORECAST
14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2.0%
0.0%
1,000,000
800,000
600,000
400,000
200,000
0
-200,000
-400,000
-600,000
2010 Q3
2010 Q4
2011 Q1
2011 Q2
2011 Q3
2011 Q4
2012 Q1
2012 Q2
2012 Q3
2012 Q4
2013 Q1
2013 Q2
2013 Q3
2013 Q4
2014 Q1
2014 Q2
2014 Q3
2014 Q4
2015 Q1
2015 Q2
2015 Q3
Net Absorption New Supply Vacancy Rate
11. Weighted Average Asking Net Rent:
The dollar amount requested by landlords for direct available space, not including subleases, expressed in dollars per square
foot per year.
Availability:
The amount of available space and available space to be delivered to the market within six months, divided by the market’s
inventory base including those future deliveries. Available space is space that is available for lease, and may or may not be
vacant.
Net Absorption:
The net change in physically occupied space between the current measurement period, and the last measurement period. It
can be either positive or negative.
Vacancy:
The amount of vacant space divided by the building inventory base. Vacant space is physically unoccupied, and it may or may
not be available for lease or sublease. This is physical vacancy. It is not determined whether a tenant is paying rent on the
space.
8
OFFICE MARKET SUMMARY
GLOSSARY
OFFICE MARKET SUMMARY
FORECAST ASSUMPTIONS
Absorption was calculated using moving averages of historical absorption data and supplemented with incoming new speculative
and build-to-suit developments.