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Research & Forecast Report
GUELPHOFFICE First Quarter 2016
Historical Performance and Forecast
(30,000)
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Net Absorption New Supply Vacancy Rate
Notable Sale TransactionsADDRESS PRICE APPROXIMATE
SIZE (SF)
1. 15 Lewis Road $875,000 10,000
Upcoming New InventoryADDRESS COMPLETION APPROXIMATE
SIZE (SF)
2. 7 Edinburgh Road Q2 2016 11,713
21
Notable Lease Notable Sale New Supply
Research & Forecast Report | First Quarter 2016 | Guelph / Industrial | Colliers International
Notable Lease TransactionsADDRESS TYPE APPROXIMATE
SIZE (SF)
None
Summary Statistics Guelph Office Market 2015 Q4 2016 Q1 Trend
Office Inventory 1,895,080 1,913,981
Net Absorption -12,353 -18,237
Vacancy Rate 4.91% 6.80%
Average Asking Net Rent(Per Square Foot) $12.44 $13.06
Average Additional Rent(Per Square Foot) $11.94 $10.97
City of GuelphOne of Canada’s fastest growing cities with a population base of over 121,608, Guelph is also part of one of Ontario’s strongest economic regions, offering easy entry to major Canadian and U.S. markets. With competitive land and building development, and business operating costs, Guelph has increasing appeal; it offers a variety of available employment lands and buildings to meet most business needs. Home to a diverse economic base including agricultural biotechnologies, the advanced manufacturing sector as well as expanding life sciences and environmental technologies clusters. Well educated and skilled workforce, with access to research facilities and graduates from 15 major Canadian post-secondary institutions within 100 kilometres.
Trends
> The Guelph office market is under-supplied in a number of areas.
> Companies looking for large blocks of space need to be in the market far enough in advance to take advantage of new build opportunities.
> Guelph continues to attract tenants to suburban locations rather than the downtown core.
MARKET CONTACT:Serguei Kaminski Market Intelligence Coordinator | Waterloo Region+1 519 904 [email protected]
REGIONAL AUTHORS:Karl Innanen | Managing Director, BrokerSerguei Kaminski | Market Intellience CoordinatorBlake Mills | Vice President, Sales RepresentativeJennie Ross | Client Project Coordinator
Colliers International | Waterloo Region305 King Street West, Suite 606Kitchener, ON N2G 1B9 | Canada
+1 519 570 1330
Copyright © 2016 Colliers International.
The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report.
About Colliers International Group Inc.Colliers International Group Inc. is a global leader in commercial real estate services, with more than 16,300 professionals operating out of 502 offices in 67 countries. Colliers International delivers a full range of services to real estate occupiers, owners and investors worldwide, including global corporate solutions, brokerage, property and asset management, hotel investment sales and consulting, valuation, consulting and appraisal services, mortgage banking and insightful research. In 2014 the firm handled $97 billion in total transaction value for 84,600 leases and sales. Colliers manages more than 1.7 billion square feet of commercial properties.
Colliers International Group Inc. generates more than US$2.3 billion in annual revenues. With significant insider ownership and an experienced management team, Colliers International has a long-term track record of creating value and superior returns for shareholders – previously under the ownership of FirstService, and as of June 2015, continuously as an independently owned company. The common shares of Colliers International Group Inc. trade on the NASDAQ under the symbol “CIGI” and on the Toronto Stock Exchange under the symbol “CIG”.
collierscanada.com
502 offices in 67 countries on 6 continentsUnited States: 140 Canada: 31 Latin America: 24 Asia Pacific: 199 EMEA: 108
$2.3billion in annual revenue
1.7billion square feet under management
16,300professionals and staff