IS DEVELOPMENT BACK? WHAT ARE THE CHALLENGESIS DEVELOPMENT BACK? WHAT ARE THE CHALLENGES THAT PROJECTS FACE IN THIS MARKET? HOW MUCH ACTIVITY IS THERE?

National Office, Industrial, & RetailNew Supply

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National Office – Downtown vs. Suburban

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Source: CBRE-EA Canada Office Outlook XL, Summer 2011

National Industrial Vacancy

Forecast

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Source: CBRE-EA Canada Industrial Outlook XL, Summer 2011

British Columbia

ECONOMIC DRIVERS

Trade and transportation Financial Services Financial Services Law

DEVELOPMENT DRIVERS $8 billion shipbuilding contract awarded to Victoria

will initiate major construction boom. $4.7 billion P-P-P projects either completed or

underway; a further $2.7 billion is being bid on across the Province.

$20 billion in committed funds for transportation investments to bring Canada closer to Asian

Oxford Properties1021 West Hastings Street

270,000 SF of Office3Q14 DeliveryNo lead tenant

Bentall Kennedy745 Thurlow Street400,000 SF of Office

2Q15 DeliveryMcCarthy Tetrault

SNC Lavalin

investments, to bring Canada closer to Asian markets.

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No lead tenant S C a a

Alberta & PrairiesECONOMIC DRIVERS

Oil & Gas Resource ExtractionResource Extraction Agriculture Transportation

DEVELOPMENT DRIVERS Oil, gas, resources and commodities are near all-

time high valuestime high values. Demand coming from BRIC and developing

nations continued need for resources. High Canadian dollar both a blessing and a curse.

CentrePort Winnipeg

20,000 AcresTransportation Facilities and Foreign Trade Zone (FTZ)

HinesEight Avenue Place II

786,000 SF – OfficeNo lead tenant

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OntarioECONOMIC DRIVERSECONOMIC DRIVERS

Financial Services Legal & Consulting Firmsg g Government Manufacturing & Trade

DEVELOPMENT DRIVERS Target Inc. is building a 1.45 million square foot

logistics and distribution centre in Cornwall. Lower operating costs make new builds an

attractive option to traditional ‘Premier A’ towers for large users in Toronto.

Waterfront Toronto Redevelopment and the Pan-Am Games will provide major developments toAm Games will provide major developments to Toronto’s Downtown East market for the next 5 years in all classes.

Oxford PropertiesRBC WaterPark Place

933,000 SF of Office3Q14 Delivery

Royal Bank of Canada

Broccolini/CandarelExport Development Canada

520,000 SF of Office1Q12 Delivery

Export Development Canada

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Royal Bank of Canada Export Development Canada

Quebec & MaritimesECONOMIC DRIVERSECONOMIC DRIVERS

Financial Services Trade & Transportationp Resource Extraction Shipbuilding

ECONOMIC DRIVERS $25 billion shipbuilding contract awarded to Halifax

will initiate major construction boom.j Major Infrastructure renewal needs will drive

construction across the Province of Quebec. Growing oil & gas industry off Newfoundland. Government of Quebec

Champlain BridgeIrving ShipbuildingHalifax Shipyards

$Approximately $5 billionInfrastructure Project

Approximately $25 billion21 Canadian Combat Vessels

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GTA Office Construction11.1million square feet proposed in the Downtown Market

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