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1. Office Market Dashboard
Greater Toronto Area
2011 Q2
MARKET SNAPSHOT MAP OF MARKET
2011 Q1 2011 Q2 Trend
Office Inventory* 185,846,509 186,620,371 p
Net Absorption 1,758,390 1,271,574 q
Vacancy Rate 6.4% 5.9% q
Average Asking Net Rent $16.08 $16.04 q
Average Additional Rent $15.18 $15.09 q
*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 2124 office buildings surveyed in the GTA 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.
2,500 50%
$70 8,000
45%
$60 7,000 2,000 40%
$59.98
35%
SF (10,000's)
6,000 1,500 30%
$50
5,000 25%
SF (10,000's)
1,000 20%
Gross Rent $/SF
$40
4,000 15%
$32.31
$30 500 10%
$24.90 3,000
$22.77 5%
$20 0
2,000 0%
$10 1,000 2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2
$- 0
Class AAA Class A Class B Class C RECENT TRANSACTIONS
* The top sale transaction this quarter was 1,079,870 SF for
$344,800,000 at 595 Bay Street. The deal closed on June 1st.
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 180,000 SF at 5550
Explorer Drive with Target as the tenant.
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.
2,000 18
$16.04
1,800
Asking Net Rent ($) / Vacancy Rate (%)
16
1,600 14
MARKET CHARACTERISTICS
1,400 * The GTA is Canada's largest urban economic region in terms of
12 population, economy and size of office market.
Thousands (SF)
1,200 * Built on strong foundations that include world-renowned educational and
10
1,000 health institutions, a diversity of internationally competitive sectors and
8 clusters, and a highly-skilled, well-educated and growing population.
800 5.9
* GTA includes the City of Toronto and the surrounding 25 regional
6 municipalities. 11 municipalities have a population greater than 100,000.
600
* Over time Toronto & the GTA has maintained its position as Canada's
400 4
financial and industrial center.
200 2 * Economic strength and dominance of the area is reflected in it's high
concentration of corporate headquarters.
- 0
2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2
Colliers International, 2011 Q2
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.
2. Office Market Dashboard
Downtown
2011 Q2
MARKET SNAPSHOT MAP OF MARKET
2011 Q1 2011 Q2 Trend
Office Inventory* 69,731,115 70,382,021 p
Net Absorption 774,454 791,217 p
Vacancy Rate 5.7% 4.6% q
Average Asking Net Rent $22.82 $23.30 p
Average Additional Rent $22.87 $23.00 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 525 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%
$70 3,000
700 18%
$60 $59.98
16%
2,500 600
14%
SF (10,000's)
500 12%
$50
$47.23 2,000 400 10%
SF (10,000's)
8%
Gross Rent $/SF
$40 300
$35.76 1,500 6%
$30 200
$30.74 4%
1,000 100 2%
$20
0 0%
$10 500 2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2
$- 0
Class AAA Class A Class B Class C
RECENT TRANSACTIONS
* The top sale transaction this quarter was 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 78,000 SF at 18 York
Street. The tenant was SNC Lavilin.
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 $23.30 25
Asking Net Rent ($) / Vacancy Rate (%)
800 MARKET CHARACTERISTICS
20
* Submarkets within the Downtown market include: Financial Core,
600 Downtown East, Downtown North, Downtown South and Downtown West.
Thousands (SF)
15 * Major Highways to Toronto Submarkets: Highway 400, Highway 401,
Highway 427, Don Valley Parkway, Gardner Expressway, Queen Elizabeth
400
Way.
10 * Billy Bishop Toronto City Airport is minutes from the Downtown Core and
200 Financial District.
* Public Transit available by TTC bus and subway systems. GO Transit
4.6
5 network connects Toronto to Peel, York, Durham and Halton Regions via
-
Bus and Train routes.
2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2 * Toronto remains the largest business centre in Canada and is home to the
-200 0 five largest banks, five public research Universities and six community
Colleges.
Colliers International, 2011 Q2
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.
3. Office Submarket Dashboard
Financial Core
2011 Q2
SUBMARKET SNAPSHOT MAP OF MARKET
2011 Q1 2011 Q2 Trend
Office Inventory* 33,631,324 33,618,409 q
Net Absorption 454,190 464,522 p
Vacancy Rate 6.3% 5.2% q
Average Asking Net Rent $26.00 $26.30 p
Average Additional Rent $28.28 $27.89 q
*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 109 office buildings surveyed in the
Financial Core 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.
500 50%
$70 1,400
450 45%
$60 $59.98 1,200
400 40%
350 35%
SF (10,000's)
$52.73 300 30%
$50 1,000
250 25%
SF (10,000's)
200 20%
Gross Rent $/SF
$40 $40.75 800
$37.75
150 15%
$30 600 100 10%
50 5%
$20 400
0 0%
$10 200 2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2
$- 0
Class AAA Class A Class B Class C
RECENT TRANSACTIONS
* No sale transactions were recorded during this period.
Note: Not available office space (light blue) and available office space (dark blue) add * The top lease transaction this quarter was 27,500 SF at 181 Bay
up to the total inventory of office space in the respective building class. Street. The tenant was Global Prime Office.
18 MONTH TREND TOP PROJECTS UNDER CONSTRUCTION
* No under construction projects recorded during this period.
Absorption Vacancy Rate Asking Net Rent
600 30
Asking Net Rent ($) / Vacancy Rate (%)
500 $26.30 25 SUBMARKET CHARACTERISTICS
* The Financial Core is the most dense office submarket in the GTA, with
400 20 one of the lowest vacancy rates.
Thousands (SF)
* GTA top annual rental rates are located in buildings in this market.
300 15
* Prestige urban location and modern, state-of-the-art architecture.
200 10
* Limited parking, but great access to public transit and the PATH system
5.2 (Toronto's underground walkway).
100 5
* Proximity to multiple amenities and services are convenient for employees
and customers.
- 0
2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2
Colliers International, 2011 Q2
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.
4. Office Submarket Dashboard
Downtown East
2011 Q2
SUBMARKET SNAPSHOT MAP OF MARKET
2011 Q1 2011 Q2 Trend
Office Inventory* 3,980,709 3,924,812 q
Net Absorption 60,116 98,743 p
Vacancy Rate 6.0% 6.7% p
Average Asking Net Rent $18.19 $18.76 p
Average Additional Rent $9.94 $10.45 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 110 office buildings surveyed in the
Downtown East 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.
60 12%
$40 250
$35.53 50 10%
$35
$31.82 200 40 8%
SF (10,000's)
$30
$25 30 6%
$24.13 150
SF (10,000's)
Gross Rent $/SF
$20 20 4%
$15 100 10 2%
$10 0 0%
50
$5
2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2
$- 0
Class A Class B Class C
RECENT TRANSACTIONS
* No sale transactions were recorded during this period.
Note: Not available office space (light blue) and available office space (dark blue) add * The top lease transaction this quarter was 14,000 SF at 143 Lake
up to the total inventory of office space in the respective building class. Shore Blvd East. The deal closed May 12th.
18 MONTH TREND TOP PROJECTS UNDER CONSTRUCTION
* No under construction projects recorded during this period.
Absorption Vacancy Rate Asking Net Rent
150 $18.76 20
18
Asking Net Rent ($) / Vacancy Rate (%)
100
16 SUBMARKET CHARACTERISTICS
50 14 * Public Transit available by TTC bus and subway systems. GO Transit network
connects Toronto to Peel, York, Durham and Halton Regions via Bus and Train
Thousands (SF)
12 routes.
-
2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2 10 * VIA Rail, Amtrak and Ontario Northlands rail service from Union Station.
-50 * Billy Bishop Toronto City Airport is minutes from the Downtown Core.
6.7 8 * Major Highways to Downtown East Submarket: Gardiner Expressway and Don
-100 6 Valley Parkway.
* The original 10 blocks of Toronto are located within this submarket, making it
4
home to many historical brick and beam buildings.
-150
2 * Top Industries in Downtown East include: Business Services, Finance, Insurance
and Real Estate, Information and Cultural Industries.
-200 0
Colliers International, 2011 Q2
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.
5. Office Submarket Dashboard
Downtown North
2011 Q2
SUBMARKET SNAPSHOT MAP OF MARKET
2011 Q1 2011 Q2 Trend
Office Inventory* 14,723,534 14,718,459 q
Net Absorption 89,380 59,639 q
Vacancy Rate 3.4% 3.1% q
Average Asking Net Rent $18.32 $19.65 p
Average Additional Rent $19.54 $19.70 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 74 office buildings surveyed in the
Downtown North 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.
80 50%
$44 700
70 45%
$43.02
600
40%
$42 60
35%
SF (10,000's)
50 30%
500
$40 40 25%
SF (10,000's)
20%
Gross Rent $/SF
400 30
$38 15%
300 20
10%
$36 10 5%
$36.16 $35.88 200
0 0%
$34 100 2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2
$32 0
Class A Class B Class C
RECENT TRANSACTIONS
* The top sale transaction this quarter was 1,079,870 SF for
$344,800,000 at 595 Bay Street. The deal closed June 1st.
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. * No lease transactions were recorded during this period.
18 MONTH TREND TOP PROJECTS UNDER CONSTRUCTION
* No under construction projects recorded during this period.
Absorption Vacancy Rate Asking Net Rent
100 20
$18.07
80 18
Asking Net Rent ($) / Vacancy Rate (%)
SUBMARKET CHARACTERISTICS
60 16
* Public Transit available by TTC bus and subway systems. GO Transit network
40 14 connects Toronto to Peel, York, Durham and Halton Regions via Bus and Train
Thousands (SF)
20 12 routes.
* VIA Rail, Amtrak and Ontario Northlands rail service from Union Station.
- 10
Billy Bishop Toronto City Airport is minutes from the Downtown Core.
-20 2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2 8 * Major Highway to Downtown North Submarket: Don Valley Parkway.
-40 6 * Bordering the Financial Core, amenities within the Downtown North submarket
include Provincial Courts, the Toronto Eaton Centre and the Toronto Discovery
-60 3.1 4 District research park.
-80 2 * Top Employers include: Rogers Telecommunication, Royal Bank of Canada, Bank
of Montreal, and Ontario Power Generation.
-100 0
* Top Industries in Downtown North include: Finance, Insurance and Real Estate,
Public Administration and Business Services.
Colliers International, 2011 Q2
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.
6. Office Submarket Dashboard
Downtown South
2011 Q2
SUBMARKET SNAPSHOT MAP OF MARKET
2011 Q1 2011 Q2 Trend
Office Inventory* 3,087,471 3,815,463 p
Net Absorption 12,995 65,526 p
Vacancy Rate 7.1% 5.0% q
Average Asking Net Rent $15.00 $22.02 p
Average Additional Rent $13.16 $18.08 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 18 office buildings surveyed in the
Downtown South 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.
40 90%
$60 250
35 80%
$53.90 70%
$50 30
200 60%
SF (10,000's)
25
$40 50%
20
150 40%
SF (10,000's)
Gross Rent $/SF
15
$30 30%
$29.31
10 20%
100
$20 5 10%
$18.82
0 0%
50
$10 2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2
$- 0
Class A Class B Class C
RECENT TRANSACTIONS
* No sale transactions were recorded during this period.
Note: Not available office space (light blue) and available office space (dark blue) add * The top lease transaction this quarter was 78,000 SF at 18 York Street.
up to the total inventory of office space in the respective building class. The tenant was SNC Lavilin.
18 MONTH TREND TOP PROJECTS UNDER CONSTRUCTION
* GWL Realty Advisors has 644,952 SF under construction at 18 York
Street.
Absorption Vacancy Rate Asking Net Rent
500 25
Asking Net Rent ($) / Vacancy Rate (%)
400 $22.02 SUBMARKET CHARACTERISTICS
20
* Public Transit available by TTC bus and subway systems. GO Transit network
300 connects Toronto to Peel, York, Durham and Halton Regions via Bus and Train
Thousands (SF)
15 routes.
* VIA Rail, Amtrak and Ontario Northlands rail service from Union Station.
200
* Billy Bishop Toronto City Airport is minutes from the Downtown Core.
10 * Major Highway to Downtown South Submarket: Gardiner Expressway.
100 * Significant Office developments south of Union Station are redefining the
5.0 boundaries of the Financial Core.
5 * New facilities include: Corus Entertainment Headquarters, George Brown
-
College Waterfront Campus.
2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2
* Top Industries in Downtown South include: Finance, Insurance and Real Estate,
-100 0 Business Services, Information and Cultural Industries.
Colliers International, 2011 Q2
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.
7. Office Submarket Dashboard
Downtown West
2011 Q2
SUBMARKET SNAPSHOT MAP OF MARKET
2011 Q1 2011 Q2 Trend
Office Inventory* 14,308,077 14,304,878 q
Net Absorption 157,774 102,788 q
Vacancy Rate 6.1% 4.0% q
Average Asking Net Rent $17.91 $18.07 p
Average Additional Rent $14.50 $15.03 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 214 office buildings surveyed in the
Downtown West 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.
160 25%
$35 900
140
$34 $33.75 800 20%
$33.38 120
$33
SF (10,000's)
700
100 15%
$32
600 80
$31
SF (10,000's)
10%
Gross Rent $/SF
500 60
$30
400 40
$29 5%
$28.48 300 20
$28
0 0%
$27 200
2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2
$26 100
$25 0
Class A Class B Class C
RECENT TRANSACTIONS
* The top sale transaction this quarter was 3,500 SF for $1,360,000 at
123 John Street. The deal closed on March 31st. .
Note: Not available office space (light blue) and available office space (dark blue) add
up to the total inventory of office space in the respective building class. * The top lease transaction this quarter was 26,000 SF at 155 Wellington
Street West. The tenant is Paliare Roland.
18 MONTH TREND TOP PROJECTS UNDER CONSTRUCTION
* No under construction projects recorded during this period.
Absorption Vacancy Rate Asking Net Rent
200 20
18
Asking Net Rent ($) / Vacancy Rate (%)
$18.07
150 16 SUBMARKET CHARACTERISTICS
* Offering many downtown location advantages, but at lower rental prices
14
than in the Financial Core .
Thousands (SF)
100 12 * This submarket is an excellent option for those tenants whose operations
do not require a core location.
10
* Well connected to public transit (streetcars along King Street W and
50 8 Queen Street W) and to the Gardiner Expressway, making this submarket
accessible to employees and customers.
6
* With many new residential high-rise developments (e.g. Concord City
4.0
- 4 Place), the labour pool will increase and diversify.
2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2 * Many former factory buildings (brick & beam) have been converted into
2 office buildings, specifically hosting the Information Technology, Art and
-50 0 Design Industry.
Colliers International, 2011 Q2
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.
8. Office Market Dashboard
Midtown
2011 Q2
SUBMARKET SNAPSHOT MAP OF MARKET
2011 Q1 2011 Q2 Trend
Office Inventory* 18,300,645 18,232,300 q
Net Absorption 153,787 153,463 q
Vacancy Rate 4.8% 4.7% q
Average Asking Net Rent $15.56 $15.90 p
Average Additional Rent $18.66 $18.35 q
*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 213 office buildings surveyed in the Midtown
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.
250 50%
$45 1,200
45%
$40 $41.40 200 40%
1,000 35%
SF (10,000's)
$35
$33.85 150 30%
$30 800 25%
$28.76
SF (10,000's)
100 20%
Gross Rent $/SF
$25
600 15%
$20
50 10%
$15 400 5%
0 0%
$10
200 2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2
$5
$- 0
Class A Class B Class C
RECENT TRANSACTIONS
* The top sale transaction this quarter was 64,575 SF for $12,601,000 at
161 Eglinton Avenue East. The deal closed June 7th.
Note: Not available office space (light blue) and available office space (dark blue) add
up to the total inventory of office space in the respective building class. * No major lease transactions were recorded during this period.
18 MONTH TREND TOP PROJECTS UNDER CONSTRUCTION
* No under construction projects recorded during this period.
Absorption Vacancy Rate Asking Net Rent
200 18
Asking Net Rent ($) / Vacancy Rate (%)
16
150 $15.90 SUBMARKET CHARACTERISTICS
14
* Submarkets within the Midtown Market include: Toronto West, Yonge &
100 12 Bloor, Yonge & St. Clair and Yonge & Eglinton.
Thousands (SF)
* Public Transit available by TTC bus and subway systems. GO Transit
10 network connects Toronto to Peel, York, Durham and Halton Regions via
50 Bus and Train routes.
8
* Major Highways to Midtown Market: Highway 401 and Don Valley
- 6 Parkway.
4.7
* Major Corporations in the market include: RioCan, Canadian Tire, Toronto
2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2
4 Transit Commission (TTC) and Desjardins Credit Union.
-50 * Top Industries in the Midtown Market include: Business Services,
2
Finance, Insurance and Real Estate and Public Administration.
-100 0
Colliers International, 2011 Q2
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.
9. Office Submarket Dashboard
Yonge - Bloor
2011 Q2
MARKET SNAPSHOT MAP OF MARKET
2011 Q1 2011 Q2 Trend
Office Inventory* 9,659,332 9,633,002 q
Net Absorption 61,748 40,969 q
Vacancy Rate 3.8% 4.0% p
Average Asking Net Rent $16.71 $17.51 p
Average Additional Rent $19.95 $19.39 q
*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 74 office buildings surveyed in the Yonge-
Bloor 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.
70 50%
$45 600
$42.83 45%
60
$40 40%
500 50 35%
$36.20
SF (10,000's)
$35
40 30%
$30 $30.59 400 25%
30
SF (10,000's)
20%
Gross Rent $/SF
$25
300 20 15%
$20
10%
10
$15 200 5%
0 0%
$10
100 2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2
$5
$- 0
Class A Class B Class C
RECENT TRANSACTIONS
* The top sale transaction this quarter was 5,176 SF for $1,800,000 at
133 Lowther Avenue. The deal closed June 20th.
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. * No lease transactions were recorded during this period.
18 MONTH TREND TOP PROJECTS UNDER CONSTRUCTION
* No under construction projects recorded during this period.
Absorption Vacancy Rate Asking Net Rent
70 20
$17.51 18
Asking Net Rent ($) / Vacancy Rate (%)
60
16
MARKET CHARACTERISTICS
50
* Public Transit available by TTC bus and subway systems. GO Transit network
14
40 connects Toronto to Peel, York, Durham and Halton Regions via Bus and Train
Thousands (SF)
12 routes.
30
10
* Largest Midtown Office Submarket in terms of Total Inventory and Occupied
20 Space.
8 * Major Highway to Yonge-Bloor Submarket: Don Valley Parkway.
10 * Labour pool intensification as a result of many new high-rise residential
6
4.0 developments in the Submarket.
- 4 * Top Employers include: TD Waterhouse, Bank of Montreal, Royal Bank of
2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2
-10 2 Canada and Hudson Bay Company.
* Top Industries in the Yonge-Bloor Submarket include: Finance, Insurance and
-20 0
Real Estate, Business Services and Information and Cultural Industries.
Colliers International, 2011 Q2
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.