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Colliers toronto office leasing market report 2014
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www.colliers.com/toronto
MARKET INDICATORS
2013 Q2* 2013 Q3*
INVENTORY
NET ABSORPTION
VACANCY RATE
ASKING NET RENT
ADDITIONAL RENT
FALL 2013 | OFFICE
Greater Toronto Area Overview Although The Greater Toronto Area office market has shown signs of softening, the vacancy rate continues to decrease reaching record lows at 5.8 percent this quarter, compared with 6.3 percent one year ago. The Downtown vacancy rate took a much sharper decline, hitting an all-time low of 3.9 percent this quarter, compared with 5.1 percent at this time last year.
With the significant amount of new development on the horizon, most tenants are trying to hit the 2016-2017 opportunistic window to renegotiate their leases or make major real estate decisions, when vacancy is expected to near the double digits. Many tenants who don’t have the luxury of renegotiating a lease in that time period are trying to secure short-term extensions now in order to take advantage of that ideal timeframe.
toronto ontario
COLLIERS INTERNATIONAL | MARKET REPORT
*change in comparison to previous quarter
Downtown Toronto continues to show strong demand for office space with a very slight change in the vacancy rate since last quarter. The Financial Core is following a similar trend showing a slight decline in vacancy from 4.6 percent to 4.4 percent, indicating that demand is steady for office space in this submarket.
Tenants looking for space over 100,000 square feet will find 5 opportunities in buildings that are currently under construction compared to 3 opportunities that are available in built office properties. The 3 opportunities that are presently being listed for built properties are a result of Marsh Mercer and RBC pre-leasing space in new builds. Marsh Mercer is leaving 161 Bay Street and 70 University Avenue to relocate to 120 Bremner Boulevard which will be completed in the third quarter of 2014.
A major factor in the growth of office demand within the Downtown core is largely due to the growth of the Financial Services sector,
Downtown
GTA | HISTORICAL PERFORMANCE & FORECAST | Q3 2003 - Q3 2014F
GTA Markets
GTA East
GTA North
GTA West
Central East
DowntownMidtown
Central North
LAKE ONTARIO
DOWNTOWN OFFICE STATISTICS
3.9% 82,585 $23.63Vacancy Rate Absorption 2013 Q3 Wgt Avg. Asking
Net Rent
-10
-5
0
5
10
15
20
25
(10)
(5)
-
5
10
15
20
25
3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3
Ask
ing
Net
Ren
t ($)
/Vac
ancy
Rat
e (%
)
Net
Abs
orpt
ion
(100
,000
SF)
GTANet Absorption Vacancy Rate Asking Net Rent
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
FORECAST
MARKET REPORT | FALL 2013 | OFFICE | TORONTO
P. 2 | COLLIERS INTERNATIONAL
MARKET REPORT | FALL 2013 | OFFICE | TORONTO
which has been expanding even during the Canadian economic recovery.
Construction has just begun at 351 King Street East and 100 Adelaide Street West. The Globe and Mail signed on as the lead tenant to occupy 134,975 square feet of space at 351 King Street East, now called the Globe and Mail Centre. With Ernst & Young set to occupy the top 10 floors as the lead tenant for 100 Adelaide Street West, the property name has been changed to the E&Y Tower.
Demand has been driven by an arrival of young professionals and residents into the Downtown core, which is exhibited by heavy construction in both residential and commercial builds. With the continued movement towards the core, infrastructure is a major player in successfully accommodating this growing urban landscape. The Premier of Ontario and the Minister of Transportation have committed $11.5 billion to begin
implementing the initial stages of The Big Move project, a proposal to improve traffic congestion and transit mobility as part of a 25-year, $50-billion regional plan.
In the coming years we can expect to see landlords of current builds focusing on repositioning older assets to compete with the challenges posed by new supply by either spending capital on retrofitting older spaces or reducing rental rates. The downtown market continues to experience strong business growth and positive absorption which has resulted in historic vacancy lows for the market. With the significant amount of new supply on the horizon, it is expected that vacancy rates will rise over the next several years.
GTA DOWNTOWN | HISTORICAL PERFORMANCE & FORECAST | Q3 2003 - Q3 2014F
-15
-10
-5
0
5
10
15
20
25
30
-6
-4
-2
0
2
4
6
8
10
12
3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3
Ask
ing
Net
Ren
t ($
)/Va
canc
y Ra
te (
%)
Net
Abs
orpt
ion
(100
,000
SF)
DowntownNet Absorption Asking Net Rent Vacancy Rate
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
FORECAST
COLLIERS INTERNATIONAL | P. 3
MARKET REPORT | FALL 2013 | OFFICE | TORONTO
Midtown The Midtown market continues to see low vacancy rates, reaching 5.0 percent this quarter. The Yonge and Bloor Class A office submarket vacancy rate has climbed to 6.2 percent, moderately higher than the 4.0 percent reported twelve months ago. Average net rental rates have dropped in Class A office space listed at $24.58 this quarter, only a slight decrease since last quarter.
Demand for residential space in Midtown continues to drive developer interest in new condo construction. One Bloor East, a mixed-use skyscraper which is currently under construction, will deliver 75 storeys of condo space as well as a proposed 100,000 square feet of retail space to the market by December 2014. There have also been proposals for two new developments in the midtown market: Casa III, a 100,000 square foot office
build and 50 Bloor Street West, a condo and commercial build, both still awaiting rezoning approval from the City of Toronto.
With the flurry of condo development happening in the Midtown market, landlords can hope to see an increased focus on the construction of new office space if demand remains strong in the coming years.
MIDTOWN | HISTORICAL PERFORMANCE & FORECAST | Q3 2003 - Q3 2014F
MIDTOWN OFFICE STATISTICS
5.0% 25,473 $17.56Vacancy Rate Absorption 2013 Wgt Avg. Asking
Net Rent
-20
-15
-10
-5
0
5
10
15
20
-4
-3
-2
-1
0
1
2
3
4
3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3
Ask
ing
Net
Ren
t ($)
/Vac
ancy
Rat
e (%
)
Net
Abs
orpt
ion
(100
,000
SF)
MidtownNet Absorption Asking Net Rent Vacancy Rate
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
FORECAST
MARKET REPORT | FALL 2013 | OFFICE | TORONTO
P. 4 | COLLIERS INTERNATIONAL
MARKET REPORT | FALL 2013 | OFFICE | TORONTO
The GTA North market continues to experience positive absorption with just over 55,000 square feet this quarter, a significant portion of which was Toshiba’s 78,774 square foot relocation to 75 Tiverton Court in the Hwy 404/Hwy 407 submarket.
Just over 60,000 square feet will be added to the total inventory of the GTA North market as 191 Creditview Road is set to be complete by the end of this year, which has been entirely pre-leased.
GTA North
GTA NORTH | HISTORICAL PERFORMANCE & FORECAST | Q3 2003 - Q3 2014F
GTA NORTH OFFICE STATISTICS
5.9% 55,233 $15.20Vacancy Rate Absorption 2013 Q3 Wgt Avg. Asking
Net Rent
-10
-5
0
5
10
15
20
25
-2
-1
0
1
2
3
4
5
3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3
Ask
ing
Net
Ren
t ($
)/Va
canc
y Ra
te (
%)
Net
Abs
orpt
ion
(100
,000
SF)
GTA NorthNet Absorption Asking Net Rent Vacancy Rate
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
FORECAST
COLLIERS INTERNATIONAL | P. 5
MARKET REPORT | FALL 2013 | OFFICE | TORONTO
GTA EastThe GTA East market didn’t experience much activity this quarter, which is quite typical of this market. The vacancy rate continues to rise and several small suites becoming vacant contributed to the negative absorption this quarter. The GTA East market still proves to be a popular destination for those requiring an industrial component in their space.
The vacancy rate posted a significant rise settling at 10.6 percent this quarter, continuing to have the highest vacancy rate of all GTA markets. At just over 5.5 million square feet, the smallest changes within this market can greatly affect the overall numbers. The GTA East market offers the lowest asking net rental rates in the GTA, average at $12.07 and $26.89 net and gross (respectively).
GTA EAST | HISTORICAL PERFORMANCE & FORECAST | Q3 2003 - Q3 2014F
GTA EAST OFFICE STATISTICS
10.6%
-112,272
$12.07
Vacancy Rate
Absorption 2013 Q3
Wgt Avg. Asking Net Rent
-15
-10
-5
0
5
10
15
20
-3
-2
-1
0
1
2
3
4
3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3
Ask
ing
Net
Ren
t ($
)/Va
canc
y Ra
te (
%)
Net
Abs
orpt
ion
(100
,000
SF)
GTA EastNet Absorption Net Asking Rent Adjusted Vacancy Rate
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
FORECAST
MARKET REPORT | FALL 2013 | OFFICE | TORONTO
P. 6 | COLLIERS INTERNATIONAL
MARKET REPORT | FALL 2013 | OFFICE | TORONTO
The GTA West market posted a high positive absorption this quarter at 161,904 square feet, with the Mississauga City Centre and Meadowvale submarkets being the main contributors.
This market continues to be the ideal location for many tenants looking to locate in the Suburban market. Recent large transactions in the area include SNC Lavalin, Royal Sun Alliance, Novartis Animal Health, Russell Metals, West 49, Price Waterhouse Coopers and several other companies looking to locate or expand their offices in this desirable location.
With the recently awarded LEED-EB Gold certification, Mississauga Executive Centre has proven to be popular, with Element Fleet Management taking 48,000 square feet at 4 Robert Speck Parkway, accounting for over 70 percent of the submarket’s total absorption this quarter.
There were two new developments completed this quarter in the Oakville and Meadowvale submarkets, adding over 110,000 square feet to the total inventory. There are quite a few new developments in the pipeline set to be completed in the next few quarters, roughly adding a little over 800,000 square feet to the GTA West office inventory, with about 25 percent already pre-leased.
GTA West
GTA WEST | HISTORICAL PERFORMANCE & FORECAST | Q3 2003 - Q3 2014F
GTA WEST OFFICE STATISTICS
8.2% 147,676 $15.39Vacancy Rate Absorption 2013 Q3 Wgt Avg. Asking
Net Rent
-15
-10
-5
0
5
10
15
20
-6
-4
-2
0
2
4
6
8
3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3
Ask
ing
Net
Ren
t ($
)/Va
canc
y Ra
te (
%)
Net
Abs
orpt
ion
(100
,000
SF)
GTA WestNet Absorption Asking Net Rent Adjusted Vacancy Rate
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
FORECAST
The Burlington submarket remains especially tight with few planned developments on the horizon, but added tenant demand for the area. With no big block opportunities over 20,000 square feet, and only 1 building added to the inventory since 2010, this market will need to build some new supply if it intends on keeping up with its GTA West counterparts.
COLLIERS INTERNATIONAL | P. 7
MARKET REPORT | FALL 2013 | OFFICE | TORONTO
Accelerating success.
www.colliers.com/toronto
CONTACT INFORMATION
Scott Addison President | Eastern Canada +1 416 620 2800 [email protected]
John Arnoldi Executive Managing Director Toronto Region +1 416 643 3733 [email protected]
Shawna Rogowski Market Intelligence Manager Toronto Region +1 416 643 3764 [email protected]
This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. Colliers International is a worldwide affiliation of independently owned and operated companies. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2013. All rights reserved. Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.
Our ServicesCentral North
The Central East market experienced a rise in vacancy this quarter to 7.0 percent with a quarterly negative absorption of 170,978 square feet. The increase in the negative absorption was caused mainly by ING Bank of Canada vacating their space at 111 Gordon Baker Road and moving to 3389 Steeles Avenue East. 111 Gordon Baker is currently the only option in this market for an office tenant looking for space over 100,000 square feet.
Central East
The Central North market experienced a slight decrease in vacancy rates this quarter, posting positive absorption of 16,687 square feet compared to the negative 7,142 square feet reported in the second quarter of 2013.
The North Yonge Corridor continues to be an extremely tight market with a low vacancy rate at 2.9 percent. It continues to post one of the higher average asking net rents for Class A space at $21.43 per square foot. There are currently only 2 large block opportunities in the Central North market at 501 Alliance Avenue and 20 York Mills Road.
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CENTRAL NORTH OFFICE STATISTICS
4.1%Vacancy Rate
16,687Absorption 2013 Q3
$16.64Wgt Avg. Asking Net Rent
CENTRAL EAST OFFICE STATISTICS
7.0%Vacancy Rate
-170,978Absorption 2013 Q3
$12.19Wgt Avg. Asking Net Rent
MARKET REPORT | FALL 2013 | OFFICE | TORONTO
+1 416 777 2200
Fourth Quarter 2013
Market Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 185,730,607 186,679,594
Net Absorption 44,404 301,755
Vacancy Rate 5.8% 6.0%
Availability Rate 8.7% 9.5%
Average Asking Net Rent $17.41 $18.48
Average Additional Rent $16.47 $16.54
Average Asking Gross Rent $33.88 $35.02
24 Month Trend
Inventory & Availability by Market
Inventory (SF)
New Developments Update Availability (SF)
Completed - 191 Creditview Road, Q4 2013 - 60,800 SF (Condor Properties)
Completed - MaRS Centre Phase 2, Q4 2013, 740,000 SF (Mars Discovery District)
Under Construction - 47% Leased - E&Y Tower, Q2 2017, 900,000 SF (Oxford)
Under Construction - 31% Leased - 351 King Street East, Q2 2016, 500,000 SF (First Gulf)
Under Construction, 82% Leased - RBC Waterpark, Q4 2014, 933,020 SF (Oxford)
Under Construction, 67% Leased - Bremner Tower, Q3 2014, 732,000 SF (GWL/bcIMC)
Under Construction, 70% Leased - Bay-Adelaide II, Q1 2016, 900,000 SF (Brookfield)
Under Construction - The Hullmark Centre, Q1 2014, 185,000 SF (Hullmark/Tridel)
Under Construction - 100% Leased - 60 Standish Court, Q2 2015 (Orlando Corp.)
Under Construction, 50% Leased - 7025 Langer Drive, Q3 2014 (GWL)
Under Construction - 30% Leased - 3100 Rutherford Road
Under Construction - 43% leased - 1 Prologis Boulevard, Q1 2014 (HOOPP)
Office Market Dashboard | Greater Toronto Area
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls (Ontario) Inc., Brokerage
Downtown70,291,319
38%
Midtown17,803,716
10%
Central North11,259,315
6%
Central East18,761,144
10%
GTA North15,492,134
8%
GTA East5,574,625
3%
GTA West47,497,341
25%
6.0%
$18.48
-15
-10
-5
0
5
10
15
20
25
-200
0
200
400
600
800
1000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Abso
rptio
n (T
hous
ands
SF)
Absorption Vacancy Rate Average Net Rent
Downtown5,805,043
33%
Midtown1,280,155
7%
Central North
565,5073%
Central East2,005,522
12%
GTA North1,646,605
9%
GTA East570,902
3%
GTA West5,768,797
33%
Fourth Quarter 2013
Market Snapshot Q3 2013 Q4 2013 Trend
Office Inventory 69,551,319 70,291,319
Net Absorption 82,585 550,248 MAP
Vacancy Rate 3.9% 4.1%
Availability Rate 6.9% 8.3%
Average Asking Net Rent $23.88 $26.30
Average Additional Rent $22.58 $23.05
Average Asking Gross Rent $46.46 $49.34
24 Month Trend
Inventory & Availability by Market
Inventory (SF)
Completed - MaRS Centre Phase 2, Q4 2013, 740,000 SF (Mars Discovery District)Under Construction - 47% Leased - E&Y Tower, Q2 2017, 900,000 SF (Oxford)Under Construction, 82% Leased - RBC Waterpark, Q4 2014, 933,020 SF (Oxford)Under Construction, 67% Leased - Bremner Tower, Q3 2014, 732,000 SF (GWL/bcIMC) Availability (SF)Under Construction, 70% Leased - Bay-Adelaide II, Q1 2016, 900,000 SF (Brookfield)
Under Construction - 27% Leased - 1 York Street, Q3 2016, 941,000 SF (Menkes/HOOPP)Under Construction - 31% Leased - 351 King Street East, Q2 2016, 500,000 SF (First Gulf)
Market ProfileTTC access via subway, LRT and bus routes.
Market amenities include underground PATH network connecting the Financial Coresubmarket, brick & beam historic conversions and a number of major developmentsplanned for Toronto's waterfront.
New Developments Update
Office Market Dashboard | Downtown
$26.30
4.1%
-15
-10
-5
0
5
10
15
20
25
30
-600
-400
-200
0
200
400
600
800
1,000
1,200
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Abso
rptio
n (T
hous
ands
SF)
Absorption Vacancy Rate Average Net Rent
Financial Core34,725,556
49%
Downtown East
4,123,1366%
Downtown North
14,744,41521% Downtown
South3,679,348
5%
Downtown West
13,018,86419%
Financial Core2,944,297
51%
Downtown East
264,0685% Downtown
North1,033,858
18%
Downtown South
146,6682%
Downtown West
1,416,15224%
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls (Ontario) Inc., Brokerage
Fourth Quarter 2013
Market Snapshot Q3 2013 Q4 2013 Trend
Office Inventory 17,795,438 17,803,716
Net Absorption 25,473 4,623 MAP
Vacancy Rate 5.0% 5.0%
Availability Rate 5.8% 7.2%
Average Asking Net Rent $17.75 $17.96
Average Additional Rent $18.41 $17.43
Average Asking Gross Rent $36.15 $35.39
24 Month Trend
Inventory & Availability by Market
Inventory (SF)
Planned - Casa III, 100,000 SF (Cresford)Planned - 50 Bloor Street West, 40,000 SF for commercial use (Morguard) Availability (SF)
Market Profile
New Developments Update
TTC access via subway, LRT and bus routes.
Market amenities include mixed-use nodes such as the Yonge/Bloor & Yonge/St. Clairsubmarkets, as well as the Yonge/Eglinton submarket, identified as an urban growthcentre by the Ontario government.
Office Market Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls (Ontario) Inc., Brokerage
Midtown
$17.96
5.0%
-15
-10
-5
0
5
10
15
20
25
30
-600
-400
-200
0
200
400
600
800
1,000
1,200
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Abso
rptio
n (T
hous
ands
SF)
Absorption Vacancy Rate Average Net Rent
Yonge-Bloor8,835,364
50%
Yonge-St.Clair2,467,401
14%
Yonge-Eglinton
5,077,13428%
Toronto West1,423,817
8%
Yonge-Bloor441,885
35%Yonge-St.Clair
115,3899%
Yonge-Eglinton616,733
48%
Toronto West106,148
8%
Fourth Quarter 2013
Market Snapshot Q3 2013 Q4 2013 Trend
Office Inventory 11,259,315 11,259,315
Net Absorption 16,687 (23,521) MAP
Vacancy Rate 4.1% 4.3%
Availability Rate 6.8% 5.0%
Average Asking Net Rent $16.65 $17.69
Average Additional Rent $16.71 $18.50
Average Asking Gross Rent $33.36 $36.18
24 Month Trend
Inventory & Availability by Market
Inventory (SF)
Under Construction - The Hullmark Centre, Q1 2014, 185,000 SF (Hullmark/Tridel)Pre-lease - 4050 Yonge Street, 367,000 SF (Build Toronto) Availability (SF)
Market Profile
New Developments Update
TTC access via subway, LRT and bus routes.
Market amenities include a major office concentration around the North York Centre,identified as an urban growth centre by the Ontario government.
Office Market Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls (Ontario) Inc., Brokerage
Central North
$17.69
4.3%
-15
-10
-5
0
5
10
15
20
25
30
-600
-400
-200
0
200
400
600
800
1,000
1,200
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Abso
rptio
n (T
hous
ands
SF)
Absorption Vacancy Rate Average Net Rent
Yorkdale1,839,042
16%
Dufferin Finch1,472,384
13%
North Yonge Corridor
7,947,88971%
Yorkdale9,9852%
Dufferin Finch74,347
13%
North Yonge Corridor481,175
85%
Fourth Quarter 2013
Market Snapshot Q3 2013 Q4 2013 Trend
Office Inventory 18,761,144 18,761,144
Net Absorption (170,978) (34,445) MAP
Vacancy Rate 7.0% 7.1%
Availability Rate 10.1% 10.7%
Average Asking Net Rent $13.18 $13.60
Average Additional Rent $15.04 $14.27
Average Asking Gross Rent $28.22 $27.87
24 Month Trend
Inventory & Availability by Market
Inventory (SF)
Pre-lease - Steeles Technology Campus Phase 3, 280,000 SF (Crestpoint) Availability (SF)
Market Profile
New Developments Update
TTC access via subway, LRT and bus routes with GO Transit commuter rail accessthrough the Richmond Hill line.
Office Market Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls (Ontario) Inc., Brokerage
Central East
$13.60
7.1%
-15
-10
-5
0
5
10
15
20
25
30
-600
-400
-200
0
200
400
600
800
1,000
1,200
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Abso
rptio
n (T
hous
ands
SF)
Absorption Vacancy Rate Average Net Rent
Don Mills -Eglinton
5,040,88535%
Duncan Mill2,354,902
16%Woodbine Steeles
4,992,03135%
Toronto East1,969,581
14%
Don Mills -Eglinton266,515
21% Duncan Mill353,867
28%
Woodbine Steeles544,197
43%
Toronto East100,317
8%
Fourth Quarter 2013
Market Snapshot Q3 2013 Q4 2013 Trend
Office Inventory 15,431,334 15,492,134
Net Absorption 55,233 (40,441) MAP
Vacancy Rate 5.9% 6.6%
Availability Rate 9.6% 10.6%
Average Asking Net Rent $15.21 $15.61
Average Additional Rent $12.01 $12.20
Average Asking Gross Rent $27.23 $27.81
24 Month Trend
Inventory & Availability by Market
Inventory (SF)
Completed - 191 Creditview Road, Q4 2013 - 60,800 SF (Condor Properties)Under Construction - 30% Leased - 3100 Rutherford Road, Q2 2014 64,769 SFUnder Construction - 7191 Yonge Street, Q1 2014 - 126,000 SF (Liberty Development Corp.)Under Construction - 9131 Keele Street, Q2 2014 - 45,194 SF (Melrose Investments) Availability (SF)Under Construction - KPMG Tower, 2016 - 300,000 SF (Calloway REIT/SmartCentres)
Planned - 55 Allstate Parkway, 152,838 SF (M & R Holdings)Planned - Galleria Corporate Centre, 97,718 SF (Times Group Corporation)Planned - 80 Minthorn Court, 170,000 SF (Tanurb Development Inc.)
Market Profile
New Developments Update
TTC access via LRT and bus routes with GO Transit commuter rail access through theLakeshore East and Stouffville lines.
Market amenities include Scarborough Town Centre, identified as an urban growth centreby the Ontario government.
Office Market Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls (Ontario) Inc., Brokerage
GTA North
$15.61
6.6%
-15
-10
-5
0
5
10
15
20
25
30
-600
-400
-200
0
200
400
600
800
1,000
1,200
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Abso
rptio
n (T
hous
ands
SF)
Absorption Vacancy Rate Average Net Rent
Vaughan2,822,852
18%
Richmond Hill511,130
3%
Hwy404-Hwy4079,086,581
59%
Markham Town Centre
3,071,57120%
Vaughan320,415
20%
Richmond Hill6,5410%
Hwy404-Hwy4071,068,451
65%
Markham Town Centre
251,19815%
Fourth Quarter 2013
Market Snapshot Q3 2013 Q4 2013 Trend
Office Inventory 5,574,625 5,574,625
Net Absorption (112,272) (6,563) MAP
Vacancy Rate 10.6% 10.7%
Availability Rate 13.4% 10.2%
Average Asking Net Rent $12.13 $10.38
Average Additional Rent $15.31 $13.08
Average Asking Gross Rent $27.44 $23.46
24 Month Trend
Inventory & Availability by Market
Inventory (SF)
No new development updates at this time. Availability (SF)
Market Profile
New Developments Update
TTC and VIVA bus networks service the GTA North market with GO commuter rail accessthrough Richmond Hill & Barrie lines.
Market amenities include the Vaughan Corporate Centre, designated an urban growthcentre by the Ontario government.
Office Market Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls (Ontario) Inc., Brokerage
GTA East
$10.38
10.7%
-15
-10
-5
0
5
10
15
20
25
30
-600
-400
-200
0
200
400
600
800
1,000
1,200
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Abso
rptio
n (T
hous
ands
SF)
Absorption Vacancy Rate Average Net Rent
Scarborough Town Centre
3,807,06668%Pickering
Oshawa1,767,559
32%
Scarborough Town Centre
403,14771%
Pickering Oshawa167,755
29%
Fourth Quarter 2013
Market Snapshot Q3 2013 Q4 2013 Trend
Office Inventory 47,357,432 47,497,341
Net Absorption 147,676 (148,146) MAP
Vacancy Rate 8.2% 8.4%
Availability Rate 11.5% 12.1%
Average Asking Net Rent $15.28 $14.88
Average Additional Rent $13.01 $12.50
Average Asking Gross Rent $28.29 $27.37
24 Month Trend
Inventory & Availability by Market
Inventory (SF)
Under Construction - 100% Leased - 7100 West Credit Ave - Q1 2014, 95,868 SF (Carttera)
Under Construction - 4080 Confederation Pkwy - Q1 2014, 60,000 SF (The Daniels Corp.)
Under Construction - 5015 Spectrum Way - Q3 2014, 134,000 SF (HOOPP)
Under Construction - 100% Leased - 60 Standish Crt - Q2 2014, 179,000 SF (Orlando Corp)Under Construction - 52% Leased - 1006 Skyview Dr - Q3 2014, 36,339 SF (United Lands Corp.)
Under Construction - 40% Leased - 1300 Cornwall Rd - Q3 2014, 29,776 SF (Melrose Investments) Availability (SF)Under Construction - 25% Leased - 209 Oak Park Blvd - Q1 2014, 80,000 SF
Under Construction - 43% Leased - 1 Prologis Blvd - Q2 2015, 146,863 SF (HOOPP)
Market Profile
New Developments Update
TTC, VIVA, MiWay, Oakville Transit and Burlington Transit bus networks service the GTAWest submarkets, and GO commuter rail access through Kitchener, Milton & LakeshoreWest lines.
Market amenities include regional and international connections through PearsonInternational Airport, as well as the Ontario government designated urban growth region,Mississauga City Centre.
Office Market Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or induce breach of an existing listing agreement. Colliers Macaulay Nicolls (Ontario) Inc., Brokerage
GTA West
$14.88
8.4%
-15
-10
-5
0
5
10
15
20
25
30
-600
-400
-200
0
200
400
600
800
1,000
1,200
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Abso
rptio
n (T
hous
ands
SF)
Absorption Vacancy Rate Average Net Rent
12%
9%
8%7% 9%
3%
8%
10%
8%
14%
5%
7%
Airport Corporate Centre - 5,684,524 SF
Airport East - 4,149,156 SF
Airport West - 3,748,485 SF
Brampton - 3,288,171 SFBurlington - 4,347,554 SF
Cooksville - 1,507,502 SF
Hwy 401 Hurontario - 3,804,277 SF
Hwy 427 Bloor-Islington - 4,643,284 SF
Mississauga City Centre - 3,864,298 SF
Meadowvale - 6,757,166 SFSheridan Winston - 2,606,303 SF
Oakville - 3,096,621 SF
15%
23%
4%
5%
8%3%
6%
7%
9%10%
3%
7%
Airport Corporate Centre - 837,644 SF
Airport East - 1,309,416 SF
Airport West - 246,525 SF
Brampton - 275,346 SF
Burlington - 461,964 SF
Cooksville - 191,663 SF
Hwy 401 Hurontario - 341,385 SF
Hwy 427 Bloor-Islington - 401,069 SF
Mississauga City Centre - 521,726 SF
Meadowvale - 602,563 SF
Sheridan Winston - 158,681 SF
Oakville - 420,815 SF
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 34,725,556 34,725,556
Net Absorption 72,781 110,201 MAP
Vacancy Rate 4.4% 4.1%
Availability Rate 7.2% 8.5%
Average Asking Net Rent $27.34 $29.91
Average Additional Rent $26.40 $27.26
Average Asking Gross Rent $53.74 $57.17
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
Oxford Properties continues construction at the E&Y Tower, a 900,000 SFLEED Platinum development. The 100 Adelaide Street West tower is 47%pre-leased with expected occupancy set for Q2 2017.
The Bay Adelaide Centre Phase II East Tower, a 900,000 SF developmentby Brookfield, is continuing construction with 70% pre-leased and Deloitteas the lead tenant. The completion date has been set for Q1 2016.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$62.47
$0.00$10.00$20.00$30.00$40.00$50.00$60.00$70.00
0
5,000
10,000
15,000
20,000
25,000
30,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$43.48
$0.00
$10.00
$20.00
$30.00
$40.00
$50.00
0
2,000
4,000
6,000
8,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$40.19
$0.00
$10.00
$20.00
$30.00
$40.00
$50.00
0
500
1,000
1,500
2,000
2,500
3,000
2012Q1
2012Q2
2012Q3
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2013Q1
2013Q2
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2013Q4
Thou
sand
s (S
F)
Downtown: Financial Core
$29.91
4.1%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
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2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 4,123,136 4,123,136
Net Absorption 6,097 12,192 MAP
Vacancy Rate 4.7% 4.4%
Availability Rate 5.9% 6.4%
Average Asking Net Rent $18.36 $21.17
Average Additional Rent $15.43 $14.55
Average Asking Gross Rent $33.79 $35.72
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
First Gulf continues construction at The Globe and Mail Centre located at
351 King Street East. This 500,000 SF LEED Gold development has an
expected completion date set for 2016.
381 Richmond Street East, a planned 370,000 SF development, is
awaiting a lead tenant before construction begins, with anticipated
completion for 2016.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$46.88
$0.00
$10.00
$20.00
$30.00
$40.00
$50.00
0200400600800
1,0001,2001,4001,600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$31.38
$0.00
$10.00
$20.00
$30.00
$40.00
0
500
1,000
1,500
2,000
2,500
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$0.00$0.00
$10.00
$20.00
$30.00
$40.00
0
200
400
600
800
1,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Downtown: Downtown East
$21.17
4.4%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 14,004,415 14,744,415
Net Absorption (6,829) 365,155 MAP
Vacancy Rate 3.1% 5.5%
Availability Rate 4.8% 7.0%
Average Asking Net Rent $17.99 $26.49
Average Additional Rent $19.25 $20.47
Average Asking Gross Rent $37.24 $46.96
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
Alexandria, MaRS and the Province of Ontario completed construction at
MaRS Centre Phase II which has brought 740,000 SF of new office
inventory to the Downtown North market.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$52.27
$0.00
$10.00
$20.00
$30.00
$40.00
$50.00
$60.00
01,0002,0003,0004,0005,0006,0007,0008,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$38.81
$0.00
$10.00
$20.00
$30.00
$40.00
$50.00
01,0002,0003,0004,0005,0006,0007,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$32.83
$0.00
$10.00
$20.00
$30.00
$40.00
0
500
1,000
1,500
2,000
2,500
3,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Downtown: Downtown North
$26.49
5.5%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
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2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 3,679,348 3,679,348
Net Absorption 12,105 16,557 MAP
Vacancy Rate 0.9% 0.4%
Availability Rate 4.1% 4.0%
Average Asking Net Rent $22.16 $22.26
Average Additional Rent $20.30 $20.34
Average Asking Gross Rent $42.46 $42.60
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments UpdateOxford continues construction at RBC WaterPark Place. The 933,020 SF office tower is 82% pre-leased and is scheduled for completion in Q3 2014.
GWL continues construction on Bremner Tower, the 732,000 SF office tower is scheduled for completion in Q3 2014 with 67% of the building currently pre-leased.
Construction continues at 1 York Street, a 941,000 SF office tower developed by Menkes and HOOPP, with an expected occupancy date set for Q3 2016.
Queen Quay Place I & II, a Hines mixed-use waterfront development, is currently marketing 430,000 SF of office space to be completed by 2017.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$45.92
$0.00
$10.00
$20.00
$30.00
$40.00
$50.00
$60.00
0
500
1,000
1,500
2,000
2,500
3,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$36.12
$0.00
$10.00
$20.00
$30.00
$40.00
0200400600800
1,0001,2001,400
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$0.00
$10.00
$20.00
0
50
100
150
200
250
300
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Downtown: Downtown South
$22.26
0.4%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
*No rent information is available for this quarter.
*No rent information is available for this quarter.
*No rent information is available for this quarter.
*No rent information is available for this quarter.
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 13,018,864 13,018,864
Net Absorption (1,569) 46,143 MAP
Vacancy Rate 4.0% 3.6%
Availability Rate 9.3% 10.9%
Average Asking Net Rent $20.84 $20.30
Average Additional Rent $18.90 $18.46
Average Asking Gross Rent $39.74 $38.76
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
Allied Properties continues construction at 134 Peter Street, Queen
Richmond Centre West Phase I, a 299,178 SF office tower that is 18%
pre-leased with expected completion set for Q1 2015.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$42.67
$0.00
$10.00
$20.00
$30.00
$40.00
$50.00
0500
1,0001,5002,0002,5003,0003,5004,0004,500
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$38.16
$0.00
$10.00
$20.00
$30.00
$40.00
$50.00
0
2,000
4,000
6,000
8,000
10,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$33.53
$0.00
$10.00
$20.00
$30.00
$40.00
0
500
1,000
1,500
2,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Downtown: Downtown West
$20.30
3.6%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
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2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 8,835,364 8,835,364
Net Absorption 3,364 3,364 MAP
Vacancy Rate 3.5% 4.5%
Availability Rate 5.0% 5.0%
Average Asking Net Rent $21.46 $21.46
Average Additional Rent $19.14 $19.14
Average Asking Gross Rent $40.60 $40.60
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
Casa III, a 100,000 SF office building on Charles Street, is being
developed by Cresford.
Morguard is marketing 50 Bloor Street West, a mixed-use building that
will bring 40,000 SF of office and retail space to the market. Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$46.23
$0.00
$10.00
$20.00
$30.00
$40.00
$50.00
0
500
1,000
1,500
2,000
2,500
3,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$37.61
$0.00
$10.00
$20.00
$30.00
$40.00
0
1,000
2,000
3,000
4,000
5,000
6,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$33.72
$0.00
$10.00
$20.00
$30.00
$40.00
0
500
1,000
1,500
2,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Midtown: Yonge-Bloor
$21.46
4.5%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 2,467,401 2,467,401
Net Absorption (685) (685) MAP
Vacancy Rate 3.4% 3.4%
Availability Rate 4.7% 4.7%
Average Asking Net Rent $18.95 $18.95
Average Additional Rent $20.38 $20.38
Average Asking Gross Rent $39.33 $39.33
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
No new development updates at this time.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$41.36
$0.00
$10.00
$20.00
$30.00
$40.00
$50.00
0100200300400500600700800900
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$37.78
$0.00
$10.00
$20.00
$30.00
$40.00
0
500
1,000
1,500
2,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$34.00
$0.00
$10.00
$20.00
$30.00
$40.00
0
50
100
150
200
250
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Midtown: Yonge-St.Clair
$18.95
3.4%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
*No rent information is available for this quarter.
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 5,077,134 5,077,134
Net Absorption (2,565) (2,565) MAP
Vacancy Rate 6.1% 6.1%
Availability Rate 12.1% 12.1%
Average Asking Net Rent $15.38 $15.32
Average Additional Rent $18.04 $17.17
Average Asking Gross Rent $33.42 $32.49
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
No new development updates at this time.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$36.97
$0.00
$10.00
$20.00
$30.00
$40.00
0
500
1,000
1,500
2,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$33.88
$0.00
$10.00
$20.00
$30.00
$40.00
0
500
1,000
1,500
2,000
2,500
3,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$29.06
$0.00
$10.00
$20.00
$30.00
$40.00
0
500
1,000
1,500
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Midtown: Yonge-Eglinton
$15.32
6.1%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 1,423,817 1,423,817
Net Absorption 4,509 4,509 MAP
Vacancy Rate 6.7% 6.7%
Availability Rate 7.5% 7.5%
Average Asking Net Rent $12.03 $12.03
Average Additional Rent $11.36 $11.36
Average Asking Gross Rent $23.39 $23.39
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
No new development updates at this time.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$0.00$0.00
$10.00
0
0
0
0
0
0
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
This submarket does not contain any Class AAA or A buildings
$23.53
$0.00
$10.00
$20.00
$30.00
$40.00
0
100
200
300
400
500
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$23.02
$0.00
$10.00
$20.00
$30.00
0
200
400
600
800
1,000
1,200
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Midtown: Toronto West
$12.03
6.7%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
*No rent information is available for this quarter.
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 1,839,042 1,839,042
Net Absorption 2,290 (1,872) MAP
Vacancy Rate 1.2% 1.3%
Availability Rate 1.5% 0.5%
Average Asking Net Rent $14.60 $12.50
Average Additional Rent $17.25 $16.50
Average Asking Gross Rent $31.85 $29.00
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
No new development updates at this time.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$0.00
$10.00
050
100150200250300350400
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$29.75
$0.00
$10.00
$20.00
$30.00
$40.00
0200400600800
1,0001,2001,400
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$26.00
$0.00
$10.00
$20.00
$30.00
0
100
200
300
400
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Central North: Yorkdale
$12.50
1.3%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
*No rent information is available for this submarket.
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 1,472,384 1,472,384
Net Absorption 7,970 (659) MAP
Vacancy Rate 14.2% 14.3%
Availability Rate 16.9% 5.0%
Average Asking Net Rent $11.90 $9.19
Average Additional Rent $11.73 $11.44
Average Asking Gross Rent $23.63 $20.63
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
No new development updates at this time.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$0.00
$10.00
0
0
0
0
0
0
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$24.35
$0.00
$10.00
$20.00
$30.00
0200400600800
1,0001,2001,400
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$16.32
$0.00
$10.00
$20.00
$30.00
0
100
200
300
400
500
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Central North: Dufferin Finch
$9.19
14.3%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net RentThis submarket does not contain any Class AAA or A buildings
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 7,947,889 7,947,889
Net Absorption 6,427 (20,990) MAP
Vacancy Rate 2.9% 3.2%
Availability Rate 6.2% 6.1%
Average Asking Net Rent $20.49 $19.74
Average Additional Rent $20.20 $20.11
Average Asking Gross Rent $40.69 $39.85
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
Hullmark and Tridel continue construction at 4789 Yonge Street, the
Hullmark Centre, a condominium and office tower complex. The
completion date has been set for Q1 2014 which will delivery 185,000 SF
office space to the market.
Build Toronto is currently marketing for a lead tenant at 4050 Yonge
Street, a 367,000 SF office development with anticipated completion set
for 2016.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$42.74
$0.00
$10.00
$20.00
$30.00
$40.00
$50.00
01,0002,0003,0004,0005,0006,0007,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$34.99
$0.00
$10.00
$20.00
$30.00
$40.00
0
500
1,000
1,500
2,000
2,500
3,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$32.09
$0.00
$10.00
$20.00
$30.00
$40.00
050
100150200250300350
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Central North: North Yonge Corridor
$19.74
3.2%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
*No rent information is available for this quarter.
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 5,040,885 5,040,885
Net Absorption 5,044 (10,471) MAP
Vacancy Rate 3.1% 3.3%
Availability Rate 4.3% 5.3%
Average Asking Net Rent $11.64 $11.86
Average Additional Rent $14.29 $13.50
Average Asking Gross Rent $25.93 $25.36
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
No new development updates at this time.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$29.26
$0.00
$10.00
$20.00
$30.00
$40.00
0
200
400
600
800
1,000
1,200
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$24.30
$0.00
$10.00
$20.00
$30.00
0
1,000
2,000
3,000
4,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$20.18
$0.00
$10.00
$20.00
$30.00
0100200300400500600700
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Central East: Don Mills - Eglinton
$11.86
3.3%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
*No rent information is available for this submarket.
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 2,354,902 2,354,902
Net Absorption 15,714 (4,517) MAP
Vacancy Rate 3.6% 3.8%
Availability Rate 13.9% 15.0%
Average Asking Net Rent $9.42 $13.95
Average Additional Rent $13.12 $13.68
Average Asking Gross Rent $22.54 $27.63
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
No new development updates at this time.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$30.80
$0.00
$10.00
$20.00
$30.00
$40.00
0
100
200
300
400
500
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$27.48
$0.00
$10.00
$20.00
$30.00
0
500
1,000
1,500
2,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$27.10
$0.00
$10.00
$20.00
$30.00
0
100
200
300
400
500
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Central East: Duncan Mill
$13.95
3.8%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 4,403,745 4,403,745
Net Absorption 7,041 (18,517) MAP
Vacancy Rate 12.1% 12.6%
Availability Rate 16.7% 16.8%
Average Asking Net Rent $13.13 $13.04
Average Additional Rent $16.76 $16.30
Average Asking Gross Rent $29.89 $29.34
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
No new development updates at this time.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$31.79
$0.00
$10.00
$20.00
$30.00
$40.00
0
500
1,000
1,500
2,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$26.50
$0.00
$10.00
$20.00
$30.00
0
500
1,000
1,500
2,000
2,500
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$23.39
$0.00
$10.00
$20.00
$30.00
0
100
200
300
400
500
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Central East: Consumers Road
$13.04
12.6%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 4,992,031 4,992,031
Net Absorption (192,548) 703 MAP
Vacancy Rate 9.8% 9.8%
Availability Rate 10.2% 10.9%
Average Asking Net Rent $13.52 $13.76
Average Additional Rent $14.35 $13.29
Average Asking Gross Rent $27.87 $27.05
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
Liberty One, a 400,000 SF development on Steelcase Road is still being
marketed and awaiting a lead tenant before construction can begin.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$29.72
$0.00
$10.00
$20.00
$30.00
$40.00
0500
1,0001,5002,0002,5003,0003,500
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$22.35
$0.00
$10.00
$20.00
$30.00
0
500
1,000
1,500
2,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$20.01
$0.00
$10.00
$20.00
$30.00
0
100
200
300
400
500
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Central East: Woodbine Steeles
$13.76
9.8%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 1,969,581 1,969,581
Net Absorption (6,229) (1,643) MAP
Vacancy Rate 2.1% 2.2%
Availability Rate 5.5% 5.1%
Average Asking Net Rent $11.27 $18.59
Average Additional Rent $17.94 $9.30
Average Asking Gross Rent $29.21 $27.89
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
No new development updates at this time.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$0.00
$10.00
0
50
100
150
200
250
300
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$29.32
$0.00
$10.00
$20.00
$30.00
$40.00
0200400600800
1,0001,2001,400
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$25.79
$0.00
$10.00
$20.00
$30.00
0
100
200
300
400
500
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Central East: Toronto East
$18.59
2.2%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
*No rent information is available for this submarket.
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 2,762,052 2,822,852
Net Absorption 23,253 9,603 MAP
Vacancy Rate 5.3% 7.0%
Availability Rate 9.9% 11.4%
Average Asking Net Rent $17.46 $17.02
Average Additional Rent $12.10 $12.25
Average Asking Gross Rent $29.56 $29.28
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
Condor Properties completed construction at 191 Creditview Road, adding
60,800 SF of fully leased space to the market. Melrose Investments has
begun construction at 9131 Keele Street. This 45,104 SF office
development has an expected occupancy date set for Q3 2014.
Construction is nearing completion at 7191 Yonge Street, a 126,000 SF
office development, with expected occupancy set for Q1 2014. Calloway
REIT has begun construction on the 300,000 SF KPMG Tower with 42%
of the building pre-leased to KPMG as the lead tenant. The completion
date has been set for 2016.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$34.19
$0.00
$10.00
$20.00
$30.00
$40.00
0
200
400
600
800
1,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$28.08
$0.00
$10.00
$20.00
$30.00
$40.00
0
500
1,000
1,500
2,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$22.97
$0.00
$10.00
$20.00
$30.00
$40.00
0100200300400500600700
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
GTA North: Vaughan
$17.02
7.0%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 511,130 511,130
Net Absorption (1,958) 2,845 MAP
Vacancy Rate 2.5% 2.0%
Availability Rate 2.7% 1.3%
Average Asking Net Rent $13.00 $13.00
Average Additional Rent $12.67 $12.67
Average Asking Gross Rent $25.67 $25.67
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
No new development updates at this time.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$0.00
$10.00
$20.00
$30.00
0
100
200
300
400
500
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$25.67
$0.00
$10.00
$20.00
$30.00
0
50
100
150
200
250
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$0.00
$10.00
$20.00
$30.00
$40.00
0
10
20
30
40
50
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
GTA North: Richmond Hill
$13.00
2.0%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
*No rent information is available for this quarter.
*No rent information is available for this quarter.
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 9,086,581 9,086,581
Net Absorption 49,009 (11,919) MAP
Vacancy Rate 6.2% 6.4%
Availability Rate 10.2% 11.8%
Average Asking Net Rent $15.24 $15.66
Average Additional Rent $12.22 $12.23
Average Asking Gross Rent $27.47 $27.89
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
575 Cochrane Drive, a 80,714 SF building by GWL Realty Advisors is in
the pre-leasing stage.
55 Allstate Parkway is in the pre-leasing stage with M&R awaiting a lead
tenant before construction can begin on the 152,838 SF building.
Triovest is continuing to pre-lease a 156,000 SF, 8-storey building at 103
Commerce Valley Drive.
Galleria Corporate Centre, a 38,662 SF development being marketed by
Times Development Corporation, is awaiting a lead tenant to begin
i
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$30.76
$0.00
$10.00
$20.00
$30.00
$40.00
0
1,000
2,000
3,000
4,000
5,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$27.42
$0.00
$10.00
$20.00
$30.00
0
500
1,000
1,500
2,000
2,500
3,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$20.93
$0.00
$10.00
$20.00
$30.00
0
500
1,000
1,500
2,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
GTA North: Hwy404-Hwy407
$15.66
6.4%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 3,071,571 3,071,571
Net Absorption (15,071) (40,970) MAP
Vacancy Rate 6.3% 7.6%
Availability Rate 8.7% 8.2%
Average Asking Net Rent $13.04 $13.72
Average Additional Rent $11.21 $12.00
Average Asking Gross Rent $24.25 $25.72
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
Offices at Uptown Markham, a 380,000 SF office development is in the
pre-leasing stage.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$27.28
$0.00
$10.00
$20.00
$30.00
0
1,000
2,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$24.35
$0.00
$10.00
$20.00
$30.00
0
500
1,000
1,500
2,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$18.84
$0.00
$10.00
$20.00
0
100
200
300
400
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
GTA North: Markham Town Centre
$13.72
7.6%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 3,757,066 3,807,066
Net Absorption (55,393) (20,119) MAP
Vacancy Rate 11.2% 11.6%
Availability Rate 15.3% 10.6%
Average Asking Net Rent $12.41 $9.58
Average Additional Rent $15.98 $14.51
Average Asking Gross Rent $28.39 $24.08
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
No new development updates at this time.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$0.00
$10.00
$20.00
$30.00
$40.00
0200400600800
1,0001,2001,4001,600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$24.50
$0.00
$10.00
$20.00
$30.00
0
500
1,000
1,500
2,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$22.57
$0.00
$10.00
$20.00
$30.00
0100200300400500600700
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
GTA East: Scarborough Town Centre
$9.58
11.6%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 1,767,559 1,767,559
Net Absorption (56,879) 13,556 MAP
Vacancy Rate 9.5% 8.7%
Availability Rate 9.8% 9.5%
Average Asking Net Rent $10.96 $10.81
Average Additional Rent $11.00 $11.05
Average Asking Gross Rent $21.96 $21.86
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
No new development updates at this time.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$24.15
$0.00
$10.00
$20.00
$30.00
$40.00
0
200
400
600
800
1,000
1,200
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$21.12
$0.00
$10.00
$20.00
$30.00
0100200300400500600700
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$13.79
$0.00
$10.00
$20.00
0
50
100
150
200
250
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
GTA East: Pickering Oshawa
$10.81
8.7%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
*No rent information is available this quarter.
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 5,684,524 5,684,524
Net Absorption (10,913) 38,816 MAP
Vacancy Rate 8.6% 8.0%
Availability Rate 11.2% 14.7%
Average Asking Net Rent $15.00 $13.47
Average Additional Rent $12.93 $12.43
Average Asking Gross Rent $27.93 $25.91
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
Construction continues at 5875 Explorer Drive. 52,000 SF of office
space is set to be completed in Q1 2014.
HOOPP continues construction at Spectrum Square Phase 1. The
134,000 SF development has a completion date set for Q3 2014. Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$30.99
$0.00
$10.00
$20.00
$30.00
$40.00
0
500
1,000
1,500
2,000
2,500
3,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$24.04
$0.00
$10.00
$20.00
$30.00
0
500
1,000
1,500
2,000
2,500
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$23.42
$0.00
$10.00
$20.00
$30.00
0
500
1,000
1,500
2,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
GTA West: Airport Corporate Centre
$13.47
8.0%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 4,149,156 4,149,156
Net Absorption (31,017) (17,303) MAP
Vacancy Rate 14.4% 14.8%
Availability Rate 29.2% 31.6%
Average Asking Net Rent $13.31 $13.07
Average Additional Rent $13.54 $12.90
Average Asking Gross Rent $26.86 $25.97
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
No new development updates at this time.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$29.31
$0.00
$10.00
$20.00
$30.00
$40.00
0
200
400
600
800
1,000
1,200
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$25.77
$0.00
$10.00
$20.00
$30.00
0
500
1,000
1,500
2,000
2,500
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$16.08
$0.00
$10.00
$20.00
$30.00
0
200
400
600
800
1,000
1,200
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
GTA West: Airport East
$13.07
14.8%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 3,748,485 3,748,485
Net Absorption (20,070) (23,519) MAP
Vacancy Rate 3.3% 3.9%
Availability Rate 5.7% 6.6%
Average Asking Net Rent $12.70 $10.23
Average Additional Rent $12.61 $11.61
Average Asking Gross Rent $25.31 $21.84
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
Metrus Properties continues construction at 4980 Tahoe Boulevard, a
202,000 SF building, with a delivery date set for 2014.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$24.45
$0.00
$10.00
$20.00
$30.00
$40.00
0
500
1,000
1,500
2,000
2,500
3,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$23.17
$0.00
$10.00
$20.00
$30.00
0
500
1,000
1,500
2,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$15.10
$0.00
$10.00
$20.00
$30.00
0
100
200
300
400
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
GTA West: Airport West
$10.23
3.9%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 3,288,171 3,288,171
Net Absorption (13,247) 17,958 MAP
Vacancy Rate 8.1% 7.6%
Availability Rate 8.0% 8.4%
Average Asking Net Rent $18.37 $17.91
Average Additional Rent $12.23 $11.47
Average Asking Gross Rent $30.60 $29.39
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
Lionhead Corporate Centre Phase II, located at 3495 and 8501
Mississauga Road, is being marketed by Kaneff with the potential to build
up to 120,000 SF of office space.
Levi Creek Corporate Centre is currently being pre-leased by Triovest,
the development is made up of two towers that will deliver 112,500 SF
and 157,500 SF of office space.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$29.56
$0.00
$10.00
$20.00
$30.00
$40.00
0200400600800
1,0001,2001,4001,600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$28.10
$0.00
$10.00
$20.00
$30.00
0
500
1,000
1,500
2,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$25.49
$0.00
$10.00
$20.00
$30.00
020406080
100120140
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
GTA West: Brampton
$17.91
7.6%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 4,347,554 4,347,554
Net Absorption 22,534 (45,889) MAP
Vacancy Rate 7.0% 8.1%
Availability Rate 10.2% 10.6%
Average Asking Net Rent $16.34 $15.28
Average Additional Rent $10.50 $10.65
Average Asking Gross Rent $26.84 $25.92
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
1006 Skyview Drive, a 36,339 SF office development, is currently under
construction with a completion date set for Q3 2014.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$29.62
$0.00
$10.00
$20.00
$30.00
$40.00
0
500
1,000
1,500
2,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$23.40
$0.00
$10.00
$20.00
$30.00
0
500
1,000
1,500
2,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$16.92
$0.00
$10.00
$20.00
0
200
400
600
800
1,000
1,200
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
GTA West: Burlington
$15.28
8.1%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 1,759,602 1,507,502
Net Absorption 36,331 (35,486) MAP
Vacancy Rate 3.1% 4.8%
Availability Rate 7.1% 12.7%
Average Asking Net Rent $13.71 $14.41
Average Additional Rent $14.20 $12.64
Average Asking Gross Rent $27.91 $27.05
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
No new development updates at this time.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$30.98
$0.00
$10.00
$20.00
$30.00
$40.00
0100200300400500600700800
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$22.28
$0.00
$10.00
$20.00
$30.00
0
200
400
600
800
1,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$21.64
$0.00
$10.00
$20.00
$30.00
050
100150200250300350
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
GTA West: Cooksville
$14.41
4.8%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
*No rent information is available for this quarter.
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 3,804,277 3,804,277
Net Absorption 4,038 (60,893) MAP
Vacancy Rate 4.6% 6.2%
Availability Rate 10.3% 9.0%
Average Asking Net Rent $15.08 $13.99
Average Additional Rent $12.16 $12.10
Average Asking Gross Rent $27.24 $26.09
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
Construction continues at 60 Standish Court, a 360,000 SF development
by Orlando Corporation, with an expected completion date set for Q2
2014.
BCC Group has begun construction at 255 Longside Drive, as 65,980 SF
development, with a completion date set for Q3 2014.
Construction continues at 7080 Derrycrest Drive. This new office
building will deliver 47,000 SF of fully leased inventory to the market in
Q1 2014.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$27.53
$0.00
$10.00
$20.00
$30.00
0
500
1,000
1,500
2,000
2,500
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$26.16
$0.00
$10.00
$20.00
$30.00
0
200
400
600
800
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$18.58
$0.00
$10.00
$20.00
$30.00
0
200
400
600
800
1,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
GTA West: Hwy 401 Hurontario
$13.99
6.2%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 4,643,284 4,643,284
Net Absorption (13,394) (24,325) MAP
Vacancy Rate 10.6% 11.1%
Availability Rate 8.6% 8.6%
Average Asking Net Rent $15.00 $15.13
Average Additional Rent $17.15 $16.10
Average Asking Gross Rent $32.15 $31.23
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
No new development updates at this time.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$36.03
$0.00
$10.00
$20.00
$30.00
$40.00
0
500
1,000
1,500
2,000
2,500
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$26.89
$0.00
$10.00
$20.00
$30.00
0
500
1,000
1,500
2,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$19.45
$0.00
$10.00
$20.00
$30.00
0100200300400500600700
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
GTA West: Hwy 427 Bloor-Islington
$15.13
11.1%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 3,761,298 3,864,298
Net Absorption 66,434 (26,491) MAP
Vacancy Rate 6.1% 7.1%
Availability Rate 12.9% 13.5%
Average Asking Net Rent $16.40 $16.72
Average Additional Rent $15.29 $16.17
Average Asking Gross Rent $31.68 $32.89
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
Construction continues at 4080 Confederation Parkway. The 90,000 SF
building has a completion date set for Q1 2014.
HOOPP has begun construction on two office buildings at 1 Prologis
Boulevard and 85 Prologis Boulevard. The estimated completion dates
have been set for Q4 2014 and Q1 2015.Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$34.49
$0.00
$10.00
$20.00
$30.00
$40.00
0500
1,0001,5002,0002,5003,0003,500
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$28.03
$0.00
$10.00
$20.00
$30.00
$40.00
0100200300400500600700
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$23.66
$0.00
$10.00
$20.00
$30.00
0
50
100
150
200
250
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
GTA West: Mississauga City Centre
$16.72
7.1%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 6,802,612 6,757,166
Net Absorption 69,081 17,951 MAP
Vacancy Rate 8.9% 8.2%
Availability Rate 10.1% 8.9%
Average Asking Net Rent $16.28 $15.06
Average Additional Rent $12.32 $12.11
Average Asking Gross Rent $28.59 $27.16
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
7100 West Credit Corporate Centre, a 95,868 SF Carttera development is
nearing completion with an expected occupancy date set for Q1 2014.
7025 Langer Drive, a 65,000 SF GWL Realty development, is currently
under construction with 50% pre-leased and an estimated completion
date set for Q3 2014.
6875 Financial Drive, a 125,790 SF building being marketed by Bentall
Kennedy is awaiting an anchor tenant before construction can begin.
First Gulf continues to pre-lease 2476 Argentia Road, a 125,000 SF
d l i h 20% f h b ildi l l d
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$29.13
$0.00
$10.00
$20.00
$30.00
$40.00
0500
1,0001,5002,0002,5003,0003,5004,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$27.73
$0.00
$10.00
$20.00
$30.00
$40.00
0
500
1,000
1,500
2,000
2,500
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$22.45
$0.00
$10.00
$20.00
$30.00
0
500
1,000
1,500
2,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
GTA West: Meadowvale
$15.06
8.2%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 2,271,848 2,606,303
Net Absorption (1,795) (2,888) MAP
Vacancy Rate 3.5% 3.2%
Availability Rate 4.9% 6.1%
Average Asking Net Rent $16.21 $17.22
Average Additional Rent $12.12 $11.75
Average Asking Gross Rent $28.33 $28.97
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
No new development updates at this time.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$32.51
$0.00
$10.00
$20.00
$30.00
$40.00
0
200
400
600
800
1,000
1,200
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$23.22
$0.00
$10.00
$20.00
$30.00
0200400600800
1,0001,2001,400
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$12.89
$0.00
$10.00
$20.00
0
100
200
300
400
500
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
GTA West: Sheridan Winston
$17.22
3.2%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent
*No historical rent information is available for this submarket.
Fourth Quarter 2013Submarket Snapshot
Q3 2013 Q4 2013 Trend
Office Inventory 3,096,621 3,096,621
Net Absorption 39,694 13,923 MAP
Vacancy Rate 14.4% 14.0%
Availability Rate 15.1% 13.6%
Average Asking Net Rent $17.20 $17.14
Average Additional Rent $11.42 $10.19
Average Asking Gross Rent $28.62 $27.33
Available Supply Split & Gross Rent
24 Month TrendClass AAA/A
Class B
New Developments Update
209 Oak Park Boulevard is currently under construction. The 64,000 SF
building is 25% pre-leased and has an estimated completion date set for
Q1 2014.
Melrose continues construction at 1300 Cornwall Road, a 29,776 SF
office development with 40% pre-leased and a completion date set for
Q3 2014.
Class C
Office Submarket Dashboard |
This document/email has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. This publication is the copyrighted property of Colliers International and /or its licensor(s). © 2014. All rights reserved. This communication is not intended to cause or
$27.62
$0.00
$10.00
$20.00
$30.00
$40.00
0
500
1,000
1,500
2,000
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
Not Available Space Direct AvailableSublease Available Gross Rent
$27.54
$0.00
$10.00
$20.00
$30.00
$40.00
0
500
1,000
1,500
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
$25.50
$0.00
$10.00
$20.00
$30.00
0
100
200
300
400
500
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Thou
sand
s (S
F)
GTA West: Oakville
$17.14
14.0%
-20
-10
0
10
20
30
-400
-200
0
200
400
600
2012Q1
2012Q2
2012Q3
2012Q4
2013Q1
2013Q2
2013Q3
2013Q4
Aski
ng N
et R
ent (
$) /
Vac
ancy
Rat
e (%
)
Thou
sand
s (S
F)
Absorption Vacancy Rate Average Net Rent