NEW OFFICEDEVELOPMENT

september 2013 toronto cbd

2 n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d

EXECUTIVE SUMMARY

toronto doWntoWn neW oFFIce deVeLopment

Development in downtown Toronto has been steadily increasing in recent years, driven by an influx of workers and residents into the downtown core. Activity has been strong in both residential and commercial construction, as well as the infrastructure intensification necessary to support this growth. Following a near-20 year construction lull, six Class A office towers totalling 4.4 million SF were completed between 2009 and 2011. With office vacancy rates currently at historical lows and few large blocks of space available for tenant relocations, a new construction cycle began in the second quarter of 2012. There are currently 5.9 million SF of Class A office space under construction in downtown Toronto. The first of these eight buildings will be coming online in 2013 with the remainder expected to be completed by 2017.

Commercial development has been growing in concert with residential development. There are currently 58 residential projects under construction in downtown Toronto, with an additional 27 in the pre-construction stages.

As residents and workers continue locating downtown, infrastructure must be expanded to accommodate the increased demand. To help traffic congestion and transit backlogs in the Greater Toronto Area, Metrolinx launched The Big Move project. The first wave of this 25-year, $50-billion transit plan is currently underway. Projects that will alleviate downtown congestion include the Union Pearson Express and the Union Station Revitalization.

This confluence of downtown office development, urban high-rise residential, and a renewed emphasis on public transit is a rising trend. This trend is true not only in Toronto, but also in all of Canada’s major urban centres and a growing number of U.S. cities.

n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d 3

Source: CBRE Limited

DOWNTOWN OFFICE REFERENCE MAP

building name Available office sF Average Floor sF total sF comments

RBC WATERPARk PLACE - 88 qUEENS qUAY W 233,020 26,666 933,020 Phase 3 of 3-building complex

BAY-ADELAIDE CENTRE EAST - 120 ADELAIDE ST W 432,826 23,000 1,017,826 Phase 2 of 3-phase office construction

BREMNER TOWER - 120 BREMNER BLVD 329,636 24,600 - 25,500 706,636 New construction; part of 3-tower mixed-use development

MARS PhASE 2 - 661 UNIVERSITY AVE 382,000 27,398-40,835 740,000 Phase 2 of multi-phase laboratory and office space development

ThE qUEEN RIChMOND CENTRE W - 134 PETER ST 235,581 23,604 285,581 Phase 1 of 2-phase, mixed-use development

ONE YORk - 1 YORk ST 668,000 27,692 800,000 New construction

100 ADELAIDE ST W 493,720 23,000 905,720 Redevelopment

GLOBE AND MAIL CENTRE - 351 kING ST E 282,000 27,000 - 43,500 462,000 Phase 2 of mixed-use development

45 BAY ST 1,000,000 N/A 1,000,000 New construction

qUEENS qUAY PLACE AT BAYSIDE 400,000 25,000 400,000 Phase 1 of multi-phase, mixed-use development

60 hARBOUR / 30 BAY ST 944,000 N/A 944,000 New construction

16 YORk ST 800,000 28,000 800,000 Phase 2 of residential and office mixed-use development

171 FRONT ST W 1,000,000 N/A 1,000,000 New construction

156 FRONT ST W (174 FRONT ST W/43 SIMCOE ST) 1,200,000 24,000 1,200,000 Mixed-use development

ATRIUM ON BAY - 595 BAY ST 285,000 28,500 285,000 Addition of 4 floors on each of two towers

85 RIChMOND ST W 155,000 13,000 155,000 Renovation of existing building

toronto doWntoWn | recently completed / Under construction / Future office developments

This disclaimer shall apply to CBRE Limited, Brokerage, and to all other divisions of the Corporation (“CBRE”). The information set out herein (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct orconsequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without noticeor obligation to the recipient from CBRE.

TORONTO DOWNTOWN| Completed / Under Construction / Future Office Developments, Sept 2013COMPLETED (5.0 Million SF)

01 RBC CENTRE, 155 WELLINGTON ST W (2009)

02 BAY ADELAIDE CENTRE WEST, 333 BAY ST (2009)

03 TELUS TOWER, 25 YORK ST (2009)

04 MAPLE LEAF SQUARE, 15 YORK ST (2010)

05 CORUS QUAY, 25 DOCKSIDE RD (2010)

06 18 YORK ST (2011)

07 RICHMOND-ADELAIDE COMPLEX, 111 RICHMOND ST WEST (2012)

08 333 KING ST EAST (2013)

09 180 WELLINGTON ST WEST (209,000 SF) (2013)

UNDER CONSTRUCTION ( 5.9 Million SF)& FUTURE SITES (9.1 Million SF)10 RBC WATERPARK PLACE (933,020 SF) (2014)

11 BAY ADELAIDE CENTRE EAST (1,017,826 SF) (2016)

12 BREMNER TOWER (706,636 SF) (2014)

13 MaRS PHASE II (740,000 SF)(2013)

14 134 PETER ST (285,581 SF) (2015)

15 ONE YORK ST (800,000 SF) (2016)

16 100 ADELAIDE ST WEST (905,720 SF) (2017)

17 351 KING ST EAST (462,000 SF) (2016)

18 BROOKFIELD PLACE III (800,000 SF)

19 45 BAY STREET (1,000,000 SF)

20 QUEENS QUAY PLACE AT BAYSIDE (2 X 200,000 SF) (2015)

21 30 BAY/60 HARBOUR ST (944,000 SF)

22 16 YORK ST (600,000 – 800,000 SF) (2015)

23 171 FRONT ST WEST (1,000,000 SF)

24 156 FRONT ST WEST (1,200,000 SF)

25 ATRIUM ON BAY (285,000 SF) (20 months from signing)

26 85 RICHMOND ST WEST (155,000 SF) (2019)

27 METRO TORONTO CONVENTION CENTRE (2,500,000 SF)

17

08

2005

10

22

19

2115

04

03

23

24

06

12

18

09

27

01

26

11

02

0714

13 25

4 n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d

UNION STATION REDEVELOPMENT

UnIon stAtIon redeVeLopment

Union Station’s revitalization is a $640-million initiative supported by investments of $164 million from the Government of Canada, $172 million from the Government of Ontario, and $340 million from the City of Toronto.

Union Station’s revitalization will result in bigger, brighter transit concourses, more exits and entrances to the station, new PATh connections, repair and rehabilitation of an aging facility, and the introduction of an exciting and revitalized retail presence.

Substantial project completion is expected in 2015, with final completion in 2016.

type: Mass Transit

total Annualridership:

65.4 million

status: Under Construction

development: www.toronto.ca/union_station

comments: $640-million initiative to revitalize Union Station

Artist Renderings by NORR Architects

n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d 5

88 qUeens qUAy West

Anchored by the Royal Bank of Canada, RBC WaterPark Place is part of the Bank’s migration plan in 2013 and 2014, which will see moves to 180 Wellington Street West and RBC WaterPark Place. The LEED Platinum designed building demonstrates the highest levels of efficiency in workplace design. At street level, the façade frames a clear view through to the lake, reinforcing the connection of waterfront to city. The on-site fitness centre and two storeys of amenity retail make for an exemplary day-to-day experience.

RBC WaterPark Place is in a location in the midst of revitalization. The waterfront of queens quay is highly present here. And key downtown landmarks like Union Station and Air Canada Centre are in the immediate vicinity, connected by the PATh network, an extensive, year-round covered pedestrian walkway.

class: A

size: Office: 933,020 SFRetail: 50,000 SF

Floors: 31

Available space: 233,020 SF

% Leased: 75%

Average Floor: 26,666 SF

completion: 3q 2014

status: Under Construction

Leed status: LEED Platinum

developer: Oxford Propertieswww.oxfordproperties.com

owner: CPPIB / Oxford Properties

pAtH connection: Yes

tenant:Royal Bank of Canada(600,000 SF)Cisco (100,000 SF)

comments: Phase 3 of 3-phase building complexPhoto: www.rbcwpp.com

RBC WATERPARk PLACE

6 n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d

120 AdeLAIde street West

Bay-Adelaide East is a 44-storey, 980,000 square foot office tower planned for the second phase of the Bay-Adelaide Centre project. The tower is designed to achieve LEED Platinum certification and will feature state-of-the-art operating and life safety systems. Connected to Toronto’s PATh system, the tower will have direct access to the 27 kilometre below grade public walkway and retail network.

Bay-Adelaide North is the third phase of the Bay-Adelaide Centre project and could accommodate an additional development of up to 500,000 square feet.

class: A

size: Office: 1,017,826 SFRetail: 8,000 SF

Floors: 44

Available space: 432,826 SF

% Leased: 57%

Average Floor: 23,000 SF

completion: 1q 2016

status: Under Construction

Leed status: LEED Platinum

developer: Brookfield Propertieswww.brookfieldofficeproperties.com

owner: Brookfield Properties

tenant:Deloitte (419,000 SF) Borden Ladner Gervais (166,000 SF)

pAtH connection: Yes

comments: Phase 2 of 3-phase office construction

Photo: www.brookfieldofficeproperties.com

BAY-ADELAIDE CENTRE EAST

n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d 7

BREMNER TOWER

120 bremner boULeVArd

Southcore Financial Centre is a major mixed-use, sustainable development prominently located in Toronto’s emerging Downtown South submarket. This 3-phase project will be comprised of two LEED Gold designed office towers totaling 1.4 million square feet and The Delta Toronto – a premium 4-star, 560 room, next generation hotel.

The Bremner Tower is the second phase of the Southcore Financial Centre. This 30 storey, 700,000 square foot office building will be directly connected to Phase 1 of the project: 18 York Street to the east and The Delta Toronto hotel to the west.

class: A

size: Office: 706,636 SFRetail: 30,000 SF

Floors: 30

Available space: 324,636 SF

% Leased: 54%

Average Floor: 24,600 - 25,500 SF

completion: 3q 2014

status: Under Construction

Leed status: LEED Gold

developer: GWL Realty Advisorswww.gwlrealtyadvisors.com

owner: bcIMC & GWL Realty Advisors

tenant:

Marsh & McLennan(257,000 SF)SNC-Lavalin (75,000 SF)Apple (50,000 SF)

pAtH connection: Yes

comments: New construction; part of 3-tower mixed-use development

Photo: www.southcore.ca

8 n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d

MARS PhASE 2

661 UnIVersIty AVenUe

MaRS Centre Phase 2 offers state-of-the-art laboratory and office space in a co-location environment, advanced communications and information technology capabilities, access to a large multi-function conference/collaboration centre and collaboration opportunities with other MaRS tenants and partners across Canada and around the world.

Located in the heart of downtown Toronto, the MaRS Centre is a vibrant, architecturally inspiring space that has become the undisputed hub of Toronto’s Discovery District: every day, more than 2,300 people come to work at the 750,000 sq.ft. complex.

The launch of the MaRS Centre Phase 2 will more than double the available square footage of MaRS, creating Canada’s largest science, technology and research centre.

class: A

size: Office: 740,000 SFRetail: 30,000 SF

Floors: 20

Available space: 382,000 SF

% Leased: 48%

Average Floor: 27,398 - 40,835 SF

completion: 4q 2013

status: Under Construction

Leed status: LEED Gold

developer: MaRS Developmentwww.marsdd.com

owner: MaRS Discovery District

tenants:

Ontario Institute for Cancer Research (78,000 SF)Public health Ontario (160,000 SF)MaRS (120,000 SF)

pAtH connection: No

comments:Phase 2 of multi-phase laboratory and office space development

Artist Rendering by Bregman + hamann Architects

9 n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d

134 peter street

The queen Richmond Centre West (The qRC) is a landmark development in Toronto’s Downtown West. The qRC is an office-retail development that will be completed in two phases. Phase 1 will integrate the existing, four-storey renovated and converted office building with a new, 11-storey office structure and a two-storey atrium. Completion of the first phase is scheduled for early 2015. The second phase is expected to include a large retail component.

class: A

size: Office: 285,581 SFRetail: 13,637 SF

Floors: 17

Available space: 235,581 SF

% Leased: 18%

Average Floor: 23,604 SF

completion: 1q 2015

status: Under Construction

Leed status: LEED Gold

developer: Allied Properties REITwww.alliedreit.com

owner: Allied Properties REIT

tenant: Sapient Corporation(50,000 SF)

pAtH connection: No

comments: Phase 1 of 2-phase, mixed-use development

Photo: Allied Properties

ThE qUEEN RIChMOND CENTRE WEST

n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d 10

ONE YORk

1 yorK street

One York is an 800,000 square foot, 35-storey, LEED Platinum office development in Downtown South. One York will be connected via above-grade PATh to the Air Canada Centre to the north, providing tenants with quick access to Union Station, the TTC, VIA Rail, and GO trains. The location of this building is also easily accessible by the Gardiner Expressway, which connects to the Don Valley Parkway to the east and highway 427 to the west, both of which then provide easy access to highway 401.

class: A

size: Office: 800,000 SFRetail: 200,000 SF

Floors: 35

Available space: 668,000 SF

% Leased: 17%

Average Floor: 27,692 SF

completion: 2q 2016

status: Under Construction

Leed status: LEED Platinum

developer: Menkes Developmentswww.menkes.com

owner: hOOPP & Menkes Developments

tenant: hOOPP (132,000 SF)

pAtH connection: Yes

comments: New construction

Photo: www.arcestra.com

11 n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d

100 Adelaide Street West is one of two new developments in the Financial Core. This property will be anchored by Ernst & Young and will contain nearly 1 million SF of rentable office space. The façade of the existing 16-storey heritage building will be incorporated into the 40-storey redevelopment. Given the heritage status of the existing structure, it will be dismantled brick-by-brick in order to be incorporated into the new construction. Therefore, timing of this project is longer than that of comparable projects Downtown, and completion is expected in early 2017.

class: A

size: Office: 905,700 SF

Floors: 40

Available space: 493,720 SF

% Leased: 45%

Average Floor: 23,000 SF

completion: 1q 2017

status: Under Construction

Leed status: LEED Platinum

developer: Oxford Propertieswww.oxfordproperties.com

owner: Oxford Properties

tenant: Ernst & Young (255,000 SF)TMX Group (157,000 SF)

pAtH connection: Yes

comments: Redevelopment

Photo: www.oxfordbigblocks.com

100 ADELAIDE STREET WEST

n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d 12

351 KInG street eAst

The Globe and Mail Centre represents Phase 2 of a four-acre redevelopment site. Phase 1 of the project featured the addition of three stories to the existing 333 king Street East building to accommodate Coca-Cola Canada. The Globe and Mail Centre will be a 17-storey office tower anchored by the Globe and Mail. Construction has commenced and is scheduled for completion in late 2016.

class: A

size: Office: 462,000 SFRetail: 18,000 SF

Floors: 17

Available space: 282,000 SF

% Leased: 39%

Average Floor: 27,000 SF - 43,500 SF

completion: q4 2016

status: Under Construction

Leed status: LEED Gold/Platinum

developer: First Gulf Corporationwww.firstgulf.com

owner: First Gulf Corporation

tenant: First Gulf Corporation (50,000 SF)Globe and Mail (130,000 SF)

pAtH connection: No

comments: Phase 2 of mixed-use development

Photo: www.urbantoronto.ca

GLOBE AND MAIL CENTRE

13 n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d

45 Bay Street is a 2.3-acre plot of land, currently improved with a Green P Parking Lot. This property is zoned as a Mixed Use Area, which permits 1.2 million SF of office density. Currently, no redevelopment plans have been submitted to the City of Toronto.

class: A

size: 1,000,000 SF

Floors: N/A

Available space: 1,000,000 SF

% Leased: 0%

Average Floor: N/A

completion: 2018

status: Proposed

Leed status: N/A

developer: SITqwww.ivanhoecambridge.com

owner: SITq

tenant: N/A

pAtH connection: N/A

comments: New construction

Photo: www.urbantoronto.ca

45 BAY STREET

n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d 14

qUEENS qUAY PLACE AT BAYSIDE

The Bayside development site is the largest parcel of land developed to date by Waterfront Toronto. Led by real estate developer hines, Bayside will transform an under-utilized, industrial area into an active and diverse mixed-use community and evolving waterfront destination.

queens quay Place is proposed to be two buildings, each having 208,000 SF of office space. 190,000 SF of retail amenities as well as 1,700 condominium units are also planned for the immediate vicinity.

class: A

size: Office: 2 x 200,000 SFRetail: 2 x 15,000 SF

Floors: 2 x 8

Available space: 400,000 SF

% Leased: 0%

Average Floor: 25,000 SF

completion: 1q 2015

status: Proposed

Leed status: LEED Gold

developer: hineswww.hines.com

owner: hines

tenant: N/A

pAtH connection: No

comments: Phase 1 of multi-phase, mixed-use development

Photo: hines

15 n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d

This 1.8-acre site is improved with the 7-storey Toronto harbor Commission office building at 60 harbour Street and a vacant site currently used for surface parking. While no official plans are available yet, the Toronto Port Authority plans on redeveloping the vacant land into a mixed-use office and commercial property. The existing structure at 60 harbour Street will be preserved. Current tenants of the building, including harbour 60 Restaurant, are expected to remain at the same location.

TPA hopes to have construction commence within the next few years following required approvals and site planning.

class: A

size: 944,000 SF

Floors: N/A

Available space: 944,000 SF

% Leased: 0%

Average Floor: N/A

completion: TBD

status: Proposed

Leed status: N/A

developer: Oxford Propertieswww.oxfordproperties.com

owner: Toronto Port Authority

tenant: N/A

pAtH connection: N/A

comments: New construction

Photo: CBRE Limited

30 BAY STREET / 60 hARBOUR STREET

n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d 16

16 YORk STREET

Cadillac Fairview Corporation has partnered with Lanterra Developments to develop this mixed-use residential and office property. Currently under construction on this site are Lanterra Developments’ ICE Condominiums – two towers, 67- and 57- storeys each. This 32-storey office tower is proposed adjacent to the existing residential development.

class: A

size: 800,000 SF

Floors: 30

Available space: 800,000 SF

% Leased: 0%

Average Floor: 28,000 SF

completion: 3q 2015

status: Proposed

Leed status: LEED Platinum

developer: Cadillac Fairview Corporationwww.cadillacfairview.com

owner: Cadillac Fairview Corporation

tenant: N/A

pAtH connection: Yes

comments: Phase 2 of the Residential and Office mixed-use development

Photo: www.16york.ca

17 n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d

The site is located at the southeast corner of Front Street West and Simcoe Street. The property is improved with an 8-storey technology centre at 151 Front Street West, the SkyWalk, and surface parking area.

The proposed development consists of an office building and technology centre, with a shared lobby and galleria. Above grade parking is integrated into the development under the SkyWalk and in above ground floors.

class: A

size: 1,000,000 SF

Floors: N/A

Available space: 1,000,000 SF

% Leased: 0%

Average Floor: N/A

completion: 2018

status: Proposed

Leed status: N/A

developer: Allied Properties REITwww.alliedreit.com

owner: Allied Properties REIT

tenant: N/A

pAtH connection: N/A

comments: New construction

171 FRONT STREET WEST

Photo: www.urbantoronto.ca

n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d 18

156 FRONT STREET WEST

This land assembly consists of eight addresses at 156-174 Front Street West & 43-51 Simcoe Street having a total size of 1.6 acres. The owner intends to redevelop this property into a mixed-use project consisting of a 65-storey residential tower and a 54-storey office tower. A rezoning application is currently under review with the City of Toronto.

class: A

size: 1,200,000 SF

Floors: 54

Available space: 1,200,000 SF

% Leased: 0%

Average Floor: 24,000 SF

completion: TBD

status: Proposed

Leed status: N/A

developer: Cadillac Fairview Corporationwww.cadillacfairview.com

owner: Cadillac Fairview Corporation

tenant: N/A

pAtH connection: N/A

comments: Mixed-use development

Photo: www.urbantoronto.ca

19 n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d

ATRIUM ON BAY

595 bAy street

An application for Site Plan Approval is currently under review with the City of Toronto. h&R REIT plans to add 215,000 SF on four floors of each of the two end towers of this building. New elevator banks will be installed to accommodate the new floors. Construction is expected to be completed within 20 months of commencement, pending an anchor tenancy.

class: A

size: 285,000 SF

Floors: 4 x 2

Available space: 285,000

% Leased: 0%

Average Floor: 28,500 SF

completion: 20 months from signing

status: Proposed

Leed status: N/A

developer: h&R REITwww.hr-reit.com

owner: h&R REIT

tenant: N/A

pAtH connection: Yes

comments: Addition of 4 floors on each of the two towers

Photo: CBRE Limited

n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d 20

85 RIChMOND STREET WEST

Oxford Properties is considering a potential redevelopment of the existing building. If it goes ahead, construction is expected to be completed in q4 2016.

class: A

size: 155,000 SF

Floors: 11

Available space: 155,000 SF

% Leased: 0%

Average Floor: 13,000 SF

completion: 2019

status: Proposed

Leed status: N/A

developer: Oxford Propertieswww.oxfordproperties.com

owner: Oxford Properties

tenant: N/A

pAtH connection: Yes

comments: Renovation of existing building

Photo: www.oxfordproperties.com

21 n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d

MULTI-hOUSING REFERENCE ChART

# status submarket development builder product type # Units occupancy

1 Under Construction DT Core U Condominiums - West Tower (Phase 1) Pemberton Group Apartment 418 2015-01

2 Under Construction DT Core U Condominiums - East Tower (Phase 2) Pemberton Group Apartment 462 2015-01

3 Under Construction DT Core 1 Thousand Bay Cresford Developments Apartment 478 2015-05

4 Under Construction DT Core Five Condos Graywood Developments Ltd. and Mod Developments Inc. Apartment 539 2014-11

5 Under Construction DT Core Chaz on Charles at Yonge Edenshaw homes and 45 Charles Ltd. Apartment 417 2015-06

6 Under Construction DT East X2 Great Gulf homes and Lifetime Developments Apartment 480 2014-06

7 Under Construction DT Core Aura at College Park Canderel Stoneridge Equity Group Ltd. Apartment 981 2014-12

8 Under Construction DT West Residences at RCMI on University Tribute Communities Apartment 318 2014-10

9 Under Construction DT West No. 210 Residences on Simcoe Sorbara Development Group and Diamond Corp. Apartment 294 2015-07

10 Under Construction DT West 12 Degrees BSaR Group of Companies Apartment 95 2014-03

11 Under Construction DT West Tableau Condominiums Urban Capital Property Group andMalibu Investments Inc. and Alit Developments Apartment 410 2014-09

12 Under Construction DT West king Charlotte Lamb Development Corp. and Niche Development Apartment 232 2015-01

13 Under Construction DT West Bisha Lifetime Developments Apartment 334 2014-04

14 Under Construction DT West Cinema Tower Daniels Corporation Apartment 444 2014-01

15 Under Construction DT West Pinnacle on Adelaide Pinnacle International Apartment 345 2014-06

16 Under Construction DT West Mercer Graywood Developments Ltd. and Beaverhall homes Apartment 390 2014-12

17 Under Construction DT West Three hundred Front Street West Tridel Apartment 683 2013-08

18 Under Construction DT West Studio2 on Richmond Aspen Ridge homes Apartment 406 2014-11

19 Under Construction DT West Studio on Richmond - Building B Aspen Ridge homes Apartment 337 2014-07

20 Under Construction DT West Theatre Park Lamb Development Corp. andharhay Construction Management Ltd. and Niche Development Apartment 233 2014-08

21 Under Construction DT West Infinity Condominiums - Final Phase Conservatory Group Apartment 298 2014-02

22 Under Construction DT West Infinity3 Condominiums Conservatory Group Apartment 407 2014-02

23 Under Construction DT Core L Tower Fernbrook homes andCityzen Urban Lifestyle and Castlepoint Numa Apartment 600 2013-10

24 Under Construction DT Core Backstage on the Esplanade Fernbrook homes andCityzen Urban Lifestyle and Castlepoint Numa Apartment 284 2015-04

25 Under Construction DT East PACE Great Gulf homes Apartment 352 2015-05

26 Under Construction DT East Marketwharf Context Developments Apartment 465 2014-02

27 Under Construction DT East Post house Condominium Alterra homes Apartment 280 2014-05

28 Under Construction DT East king Plus Condos Plus Development Group and Terracomm Development Inc. Apartment 132 2014-06

This disclaimer shall apply to CBRE Limited, Brokerage, and all of its real estate agents, and to all other divisions of the Corporation (collectively “CBRE”). The information set out herein (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE.

Source: RealNet

toronto doWntoWn | Under construction

n e W o F F I c e d e V e Lo p m e n t | s e p t e m b e r 2 0 1 3 to r o n to c b d 22

MULTI-hOUSING REFERENCE MAP

LAKE ONTARIO LAKE ONTARIO

Toronto Shoreline

Toronto Shoreline

Toronto Shoreline

Toronto Shoreline

Toronto Shoreline

SPADINA STATION ST. GEORGE STATIONBAY STREET STATION B

LOO

R STATIO

NW

ELLESLEY STATION

CO

LLEGE STATIO

N

MU

SEUM

STATION

QU

EENS PA

RK

STATION

ST. PATRIC

K STATIO

NO

SGO

OD

E STATION

ST. AN

DR

EW STATIO

N

QU

EEN STATIO

NK

ING

STATION

UNION STATION

DU

ND

AS STATIO

N

YONGE STATIONSHERBOURNE STATION

HarbourfrontPark

HarbourSquare Park

St. JamesPark

Moss Park

AllanGardens

GrangePark

Queen’s ParkSouth

Queen’s ParkNorth

ClarenceSquare

BerczyPark

Royal OntarioMuseum

Four SeasonsHotel

The Colonnade

WindsorArms

ParkHyatt

Manulife Centre

Condo/Hotel/Retail

XeroxCentre

Canwest

GraceHospital

Hudson’s Bay Centre

Crown LifePlace

Phase I

Crown LifePlace

Phase II

TownInnand

Suites

ComfortHotel

Downtown

YWCA

JarvisCollegiate

Rogers

EmanuelCollege

St. Basil’sRoman Catholic

Church

OntarioResearch

Foundation

Queen’s Park Ontario GovernmentBuildings

YMCA

Government

LucliffePlace

Toronto General Hospital

Hospital for Sick Children

Coach TerminalDundas Edward

Centre The Atrium on Bay

Eaton Centre

MasseyHall

PantagesCanonTheatre

TorontoLife

Ryerson Polytechnical Institute

St. Michael’sCathedral

St. Michael’sHospital

MetropolitanUnitedChurch

Queen RichmondCentre

ElginTheatre/

WintergardenTheatre

Bell TrinitySquare

Parking ParkingParking

ParkingParking

Parking

Ritz CarltonRBC Centre

Bay-AdelaideCentreWest Tower

TrumpTower

Marriot Hotel

Dundas Square

PantagesHotel& Spa

RyersonBusiness School

City Hall

Nathan PhilipsSquare

Old City Hall

MetropolitanHotel

UniversityCentre

Police 52Division

IndustrialAllianceBuilding

AirMiles

FestivalHall

City-TV

TheBalfourBuilding

Toronto NewMedia Centre

Festival Tower Princess ofWales Theatre

RoyalAlexandraTheatre

Roy ThompsonHall

Metro Centre

Metro CentreWellington Tower

Fairmont Royal York Hotel

IntercontinentalHotel

StrathconaHotel TD Waterhouse

Tower

TheToronto

Club

TorontoDominion

Bank

Royal BankPlazaNorth

Royal BankPlazaSouth

TD CanadaTrust Tower

Sony Centrefor the

Performing Arts

St. LawrenceCentre

Union Station

Citigroup Place

Air Canada Centre

Maple LeafSquare

Telus Tower18 York StreetGWL Tower II

HarbourSquareYork

QuayCentre

DumaurierTheatre

Queen’s QuayTerminalBuilding

WaterPark PlaceConference

Centre

Toronto Star

LCBO

Corus Building

Redpath Sugar

Westin HarbourCastle

St. LawrenceMarket

St. LawrenceHallMarket

Square

King James PlaceLe Meridien

King EdwardHotel

The Suitesat 1 King

West CosmopolitanHotel

Victoria Hotel RSAWellington

Square

OneFinancial

Place

St. JamesCathedral

State StreetFinancial Centre

Parking

HolidayInn Express

GeorgeBrown

College

GeorgeBrown

College

Novotel Hotel

Brookfield Place

Bay WellingtonTower

East

South

ErnstYoungTower

Toronto DominionBank Tower

Toronto-Dominion Centre

HSBC

St. AndrewsChurch

INGTower

NationalBank

Building

Four SeasonsCentreBank of

Canada

Hilton Hotel

Shangri-LaHotel

SheratonCentreHotel

SimpsonTower

The Bay

UBS

Metlife

Royal TrustTower

LombardPlace

CIBCMellon

Toronto StockExchange

ExchangeTower

Sun Life Tower

StandardLife

Centre

CanadianPacificTower

West

TheNational

Club

North

CommerceCourt

ScotiaPlaza

Bank ofNovaScotia

44

RoyalBank

Building

CBC Broadcast Centre

CN TowerRenaissance Hotel

Rogers Centre

Convention CentreEntrance

Old Roundhouse

RadissonPlazaHotel

Metro Hall

CanadaLife

Art Gallery of Ontario

Mount SinaiHospital

QueenElizabethHospital

Princess MargaretHospital

Ontario PowerGeneration

Court House

OsgoodeHall

Delta Chelsea Hotel

CourtyardBy Marriot

Hotel

TorontoHydro

CarltonTowers Days Hotel

and ConferenceCentre

Best WesternPrimrose

RamadaPlaza Hotel

Church StreetPublic School

Women’sCollegeHospital

PoliceHeadquarters

College Park

Government

TorontoPsychiatric

Hospital

BantryBest

Institute

OntarioParliament

Building

St. JosephSchool

Sutton PlaceHotel

St. Michael’sCollege

VictoriaCollege

TorontoReference

Library

Trinity College

Massey College

VarsityArena

InterContinentalHotelHoliday Inn

Midtown

VarsityStadium

HumanitiesResearch Library

Zoology

Chemistry

PhysicsKnox College

Convocation Hall

Wallberg Building

University of Toronto

Addiction ResearchClinical Institute

ClarkeInstitute

Hart House

UniversityCollege

Wycliff College

Medical Sciences

Engineering

Sydney SmithHall

New College

University of Toronto Schoolsand Ontario College of Education

MaRs

MaRs Phase 2(future development)

111

City-TV

Comfort Suites

Grand Hoteland Suites

Markel

RichmondAdelaideCentre

HolidayInn onKing

Hilton Suites

SohoMetropolitan

Hotel

Le GermainHotel

99

RogersBuilding

Manulife

UnileverBuilding

460

65

40

First Canadian Place

Metro Convention Centre

Simcoe Place

HARBORD STREET

WILLCOCKS STREET

HOSKIN AVENUE

AVENUE ROAD

UNIVERSITY AVENUE

UNIVERSITY AVENUE

BAY STREET

BAY STREET

BALMUTO STREET

BAY STREET

YONGE STREETYONGE STREET

YONGE STREETYONGE STREET

YONGE STREET

FREELAND STREET

LOWER JARVIS STREET

RICHARDSON STREET

VICTORIA STREET

BOND STREET

SHERBOURNE STREETSHERBOURNE STREET

JARVIS STREETJARVIS STREET

GEORGE STREET

CHURCH STREET

TORONTO STREET

YORK STREET

EMILY STREET

SHERBOURNE STREETLOW

ER SHERBOURNE STREET

LOWER JARVIS STREET

CHURCH STREET

JARVIS STREET

MUTUAL STREET

CHURCH STREET

OKEEFE LANEOKEEFE LANE

ST. ENOCHS SQUARE

WELLESLEY STREET WEST

BREADALBANE STREET

GROSVENOR STREET

GRENVILLE STREET

WELLESLEY STREET EAST

COLLEGE STREET

GERRARD STREET WEST

GOULD STREET

GERRARD STREET EAST

DUNDAS STREET WEST

DUNDAS STREET EAST

SHUTER STREET

DUNDAS STREET WEST

QUEEN STREET WESTQUEEN STREET WEST

RICHMOND STREET WEST

ADELAIDE STREET WEST

KING STREET WEST

QUEEN STREET EAST

RICHMOND STREET EASTRICHMOND STREET WEST

ADELAIDE STREET WEST

BAY STREETBAY STREET

BAY STREETHARBOUR

SQUARE

KING STREET WEST

WELLINGTON STREET WEST

FRONT STREET WEST

GARDINER EXPRESSWAY

HARBOUR STREET

QUEENS QUAY WEST

QUEENS QUAY EAST

LAKESHORE BOULEVARD EASTGARDINER EXPRESSWAY

GRAND TRUCK CRES

LAKESHORE BOULEVARD WEST

STATION STREET

WELLINGTON STREET WEST

FRONT STREET WEST

BLUE JAYS WAY

BREMNER BOULEVARD

YORK STREETYORK STREET

GARDINER EXPRESSWAY

ROBERTSON

CRES

CENT

LAKESHORE BOULEVARD WEST

LAKESHORE BOULEVARD WEST

REES STREET

NAVY WHARF COURT

LOMBARD STREET

ADELAIDE STREET EAST

WELLINGTON STREET EAST FRONT STREET EAST

THE ESPLANADE

WALTON STREET

THE ESPLANADE

KING STREET EAST

EDWARD STREET

ELM STREET

CARLTON STREET

SPADINA AVENUESPADINA AVENUE

SPADINA AVENUE

QUEENS PARK CRESCENT WEST

QUEENS PARK CRESCENT EAST

ELIZABETH STREET

CHESTNUT STREET

ST. GEORGE STREETST. GEORGE STREET

BEVERLEY STREETBEVERLEY STREET

BLOOR STREET WESTBLOOR STREET EAST

COLLEGE STREET

ORDE STREET

PRINCE ARTHUR AVENUE

BEDFORD ROAD

HURON STREET

HURON STREET

BPNICOL AVENUE

HURON STREET

ST. PATRICK STREET

McCAUL STREET

HENRY STREET

ROSS STREET

GLASGOW STREET

DARCY STREET

DEVONSHIRE PLACE

WASHINGTON AVENUE

RUSSELL STREET

SUSSEX AVENUE

GLEN MORRIS STREET

ELMSLEY PLACE

CHESTNUT STREET

CENTRE AVENUE

JAMES STREET

GRAND OPERA LANE

VICTORIA STREET

BERTI STREET

DUNCAN STREET

JOHN STREETJOHN STREET

WIDMER STREET

DRUMMOND PLACE

CHARLOTTE STREET

BULWER STREET

PHOEBE STREET

SOHO STREET

ST. PATRICK SQUARE

SULLIVAN STREET

GRANGE AVENUE

GRANGE ROAD

MICHAEL SWEET AVENUE

STEPHANIE STREET

RENFREWPLACE PULLAN PLACE

LARCH STREET

GRANGE PLACE

SOHO SQUARE

SOHO PLACE

PETER STREET

WINDSOR STREET

JOHN STREET

BLUE JAYS WAY SIMCOE STREET

LOWER SIMCOE STREET

LOWER SIMCOE STREET

NELSON STREET

MERCER STREET

OXLEY STREET

FREDERICK STREETFREDERICK STREET

GEORGE STREET

COURT STREET

BRITAIN STREET

COLBORNE STREET

SCOTT LANE

SURREY PLACE

LA SCALA LANE

ST. THOMAS STREET

ST. NICHOLAS STREET

INKERMAN STREET

PHIPPS STREET

YORKVILLE AVENUE

BELLAIR STREET

CUMBERLAND STREET

CRITCHLEY LANE

ST. MARY STREET

CHARLES STREET WEST

MAYFAIR MEWS

ASQUITH AVENUE

COLLIER STREET

HAYDEN STREET

ROYS SQ

SELBY STREET

LINDEN STREETCHARLES STREET EAST

GLOUCESTER STREET

DUNDONALD STREET

ALEXANDER STREET

WOOD STREET

HAYTER STREET

ALBERT STREET

HAGERMAN STREET

TEMPERANCE STREET

PIPER STREETHEENAN PLACE

MAITLAND STREET MAITLAND PLACE

MARIBETH AVENUE

MUTUAL STREET

ALEXANDER PLACE

DONNA SHAW LANE

CHURCH STREET

HOMEWOOD AVENUE

MAITLAND

TERR

ACE

WELLESLEY LANE

WELLESLEY PLACE

EARL STREETEARL PLACE

MONTEITH STREET

CAWTHRA SQUARE

ISABELLA STREET

SULTAN STREET

TOWER ROAD

GALBRAITH ROAD

KING

S CO

LLEG

E CI

RCLE

IRWIN AVENUE

ST. JOSEPH STREET

MURRAY STREET

WALTON STREET

FOSTER PLACE

WALTON STREET

GRANBY STREET

MCCLEAR PLACE

HORTICULTURAL AVENUE

GLENHOLME PLACE

PEMBROOKE STREET

GEORGE STREET

MCGILL STREET

SHEARD STREET

CLASSIC AVENUE

BANCROFT AVENUE

CLARENCE SQUARE

PEARL STREET

LA PLANTE AVEN UESHEPPARD STREET

HAR

T HO

USE

CIRC

LE

ROSEDALE VALLEY ROAD

SPADINA CRESCENT

SPADINA AVENUE

DOWNTOWN TORONTO

N

12

34

5 6

7

16

18

20

2122

24

26

28

25

27

23

8

9

10

11

12

13

14

15

19

17

neW oFFIce deVeLopmentSEPTEMBER 2013 TORONTO CBD

For more InFormAtIon pLeAse contAct:

John o’tooleEVP & Executive Managing Directort 416 815 2368 john.otoole@cbre.com

cbre Limited | 145 King street West, suite 600 | toronto, on m5H 1J8 | www.cbre.ca

masha dudelzak, mbASenior Research Analystt 416 815 2316 masha.dudelzak@cbre.com

GIS MAPPING PROVIDED BY: naz Ali, GISP | National GIS Coordinator | t 604 662 5173 | naz.ali@cbre.com

ross mooreDirector of Research, Canadat 604 662 5101 ross.moore@cbre.com

This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation; to include all employees and independent contractors (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved.

Mapping Sources: Canadian Mapping Services canadamapping@cbre.com; DMTI Spatial, Environics Analytics, Microsoft Bing, Google Earth.

Access Office Development Reports for: Montreal, Calgary, Vancouver