office market dashboard 2011 q2 central

2011 Q2MARKET SNAPSHOT MAP OF MARKET

2011 Q1 2011 Q2 Trend

185,846,509 186,620,371 p1,758,390 1,271,574 q

6.4% 5.9% q$16.08 $16.04 q$15.18 $15.09 q

GROSS RENT & AVAILABILITY BY BUILDING CLASS AVAILABLE SUPPLY SPLIT

RECENT TRANSACTIONS

18 MONTH TREND TOP PROJECTS UNDER CONSTRUCTION

MARKET CHARACTERISTICS

Colliers International, 2011 Q2

Note: Not available office space (light blue) and available office space (dark blue) add up to the total inventory of office space in the respective building class.

Office Inventory*

Net Absorption

Vacancy Rate

Average Asking Net Rent

Average Additional Rent

*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 2124 office buildings surveyed in the GTA office region.

$59.98

$32.31

$24.90 $22.77

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

$-

$10

$20

$30

$40

$50

$60

$70

Class AAA Class A Class B Class C

SF (1

0,00

0's)

Gro

ss R

ent

$/SF

Avail. Office Space Not Avail. Office Space Gross Rent

5.9

$16.04

0

2

4

6

8

10

12

14

16

18

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

Ask

ing

Net

Ren

t ($

) / V

acan

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ate

(%)

Thou

sand

s (S

F)

Absorption Vacancy Rate Asking Net Rent

0%5%10%15%20%25%30%35%40%45%50%

0

500

1,000

1,500

2,000

2,500

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

0,00

0's)

Sublease Avail Direct Avail Sublease % of Total Avail.

Information contained herein has been obtained from the owners or other sources deemed reliable. We have no reason to doubt its accuracy but regret we cannot guarantee it. All properties subject to change or withdrawal without notice. All numbers reported use the most accurate information available at the time of publishing, however we acknowledge that there may be marginal changes over time as more accurate information becomes available. Colliers Macaulay Nicolls (Ontario) Inc., Brokerage.

Office Market DashboardGreater Toronto Area

* The top sale transaction this quarter was 1,079,870 SF for $344,800,000 at 595 Bay Street. The deal closed on June 1st.

* The top lease transaction this quarter was 180,000 SF at 5550 Explorer Drive with Target as the tenant.

* GWL Realty Advisors has 644,952 SF under construction at 18 York Street.

* The GTA is Canada's largest urban economic region in terms of population, economy and size of office market.* Built on strong foundations that include world-renowned educational and health institutions, a diversity of internationally competitive sectors and clusters, and a highly-skilled, well-educated and growing population.* GTA includes the City of Toronto and the surrounding 25 regional municipalities. 11 municipalities have a population greater than 100,000.* Over time Toronto & the GTA has maintained its position as Canada's financial and industrial center.* Economic strength and dominance of the area is reflected in it's high concentration of corporate headquarters.


2011 Q1 2011 Q2 Trend

69,731,115 70,382,021 p774,454 791,217 p

5.7% 4.6% q$22.82 $23.30 p$22.87 $23.00 p


RECENT TRANSACTIONS




*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 525 office buildings surveyed in the Downtown office region.


Office Inventory*

Net Absorption

Vacancy Rate



$59.98

$47.23

$35.76

$30.74

0

500

1,000

1,500

2,000

2,500

3,000

$-

$10

$20

$30

$40

$50

$60

$70


SF (1

0,00

0's)

Gro

ss R

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$/SF


0%2%4%6%8%10%12%14%16%18%20%

0

100

200

300

400

500

600

700

800

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

0,00

0's)



Office Market DashboardDowntown

* The top sale transaction this quarter was SF for $103,000,000 at 180 Dundas Street West. The deal closed January 25th.

* The top lease transaction this quarter was 78,000 SF at 18 York Street. The tenant was SNC Lavilin.


4.6

$23.30

0

5

10

15

20

25

-200

-

200

400

600

800

1,000

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2 Ask

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Net

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Thou

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F)


* Submarkets within the Downtown market include: Financial Core, Downtown East, Downtown North, Downtown South and Downtown West.* Major Highways to Toronto Submarkets: Highway 400, Highway 401, Highway 427, Don Valley Parkway, Gardner Expressway, Queen Elizabeth Way.* Billy Bishop Toronto City Airport is minutes from the Downtown Core and Financial District.* Public Transit available by TTC bus and subway systems. GO Transit network connects Toronto to Peel, York, Durham and Halton Regions via Bus and Train routes. * Toronto remains the largest business centre in Canada and is home to the five largest banks, five public research Universities and six community Colleges.

2011 Q2SUBMARKET SNAPSHOT MAP OF MARKET

2011 Q1 2011 Q2 Trend

33,631,324 33,618,409 q454,190 464,522 p

6.3% 5.2% q$26.00 $26.30 p$28.28 $27.89 q


RECENT TRANSACTIONS


SUBMARKET CHARACTERISTICS


*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 109 office buildings surveyed in the Financial Core office region.


Office Inventory*

Net Absorption

Vacancy Rate



$59.98

$52.73

$40.75 $37.75

0

200

400

600

800

1,000

1,200

1,400

$-

$10

$20

$30

$40

$50

$60

$70


SF (1

0,00

0's)

Gro

ss R

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$/SF


0%5%10%15%20%25%30%35%40%45%50%

050

100150200250300350400450500

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

0,00

0's)



Office Submarket DashboardFinancial Core

* No sale transactions were recorded during this period.

* The top lease transaction this quarter was 27,500 SF at 181 BayStreet. The tenant was Global Prime Office.

* No under construction projects recorded during this period.

5.2

$26.30

0

5

10

15

20

25

30

-

100

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400

500

600

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

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* The Financial Core is the most dense office submarket in the GTA, with one of the lowest vacancy rates.

* GTA top annual rental rates are located in buildings in this market.

* Prestige urban location and modern, state-of-the-art architecture.

* Limited parking, but great access to public transit and the PATH system (Toronto's underground walkway).

* Proximity to multiple amenities and services are convenient for employees and customers.


2011 Q1 2011 Q2 Trend

3,980,709 3,924,812 q60,116 98,743 p6.0% 6.7% p

$18.19 $18.76 p$9.94 $10.45 p


RECENT TRANSACTIONS




*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 110 office buildings surveyed in the Downtown East office region.


Office Inventory*

Net Absorption

Vacancy Rate



$35.53$31.82

$24.13

0

50

100

150

200

250

$-

$5

$10

$15

$20

$25

$30

$35

$40

Class A Class B Class C

SF (1

0,00

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Gro

ss R

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$/SF


0%

2%

4%

6%

8%

10%

12%

0

10

20

30

40

50

60

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

0,00

0's)



Office Submarket DashboardDowntown East


* The top lease transaction this quarter was 14,000 SF at 143 Lake Shore Blvd East. The deal closed May 12th.


6.7

$18.76

0

2

4

6

8

10

12

14

16

18

20

-200

-150

-100

-50

-

50

100

150

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

Ask

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(%)

Thou

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F)


* Public Transit available by TTC bus and subway systems. GO Transit network connects Toronto to Peel, York, Durham and Halton Regions via Bus and Train routes. * VIA Rail, Amtrak and Ontario Northlands rail service from Union Station.* Billy Bishop Toronto City Airport is minutes from the Downtown Core.* Major Highways to Downtown East Submarket: Gardiner Expressway and Don Valley Parkway.* The original 10 blocks of Toronto are located within this submarket, making it home to many historical brick and beam buildings.* Top Industries in Downtown East include: Business Services, Finance, Insurance and Real Estate, Information and Cultural Industries.


2011 Q1 2011 Q2 Trend

14,723,534 14,718,459 q89,380 59,639 q3.4% 3.1% q

$18.32 $19.65 p$19.54 $19.70 p


RECENT TRANSACTIONS




*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 74 office buildings surveyed in the Downtown North office region.


Office Inventory*

Net Absorption

Vacancy Rate



$43.02

$36.16 $35.88

0

100

200

300

400

500

600

700

$32

$34

$36

$38

$40

$42

$44


SF (1

0,00

0's)

Gro

ss R

ent

$/SF


0%5%10%15%20%25%30%35%40%45%50%

0

10

20

30

40

50

60

70

80

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

0,00

0's)



Office Submarket DashboardDowntown North

* The top sale transaction this quarter was 1,079,870 SF for $344,800,000 at 595 Bay Street. The deal closed June 1st.

* No lease transactions were recorded during this period.


3.1

$18.07

0

2

4

6

8

10

12

14

16

18

20

-100

-80

-60

-40

-20

-

20

40

60

80

100

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

Ask

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(%)

Thou

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F)


* Public Transit available by TTC bus and subway systems. GO Transit network connects Toronto to Peel, York, Durham and Halton Regions via Bus and Train routes. * VIA Rail, Amtrak and Ontario Northlands rail service from Union Station.Billy Bishop Toronto City Airport is minutes from the Downtown Core.* Major Highway to Downtown North Submarket: Don Valley Parkway.* Bordering the Financial Core, amenities within the Downtown North submarket include Provincial Courts, the Toronto Eaton Centre and the Toronto Discovery District research park.* Top Employers include: Rogers Telecommunication, Royal Bank of Canada, Bank of Montreal, and Ontario Power Generation.* Top Industries in Downtown North include: Finance, Insurance and Real Estate, Public Administration and Business Services.


2011 Q1 2011 Q2 Trend

3,087,471 3,815,463 p12,995 65,526 p7.1% 5.0% q

$15.00 $22.02 p$13.16 $18.08 p


RECENT TRANSACTIONS




*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 18 office buildings surveyed in the Downtown South office region.


Office Inventory*

Net Absorption

Vacancy Rate



$53.90

$29.31

$18.82

0

50

100

150

200

250

$-

$10

$20

$30

$40

$50

$60


SF (1

0,00

0's)

Gro

ss R

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$/SF


0%10%20%30%40%50%60%70%80%90%

0

5

10

15

20

25

30

35

40

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

0,00

0's)



Office Submarket DashboardDowntown South


* The top lease transaction this quarter was 78,000 SF at 18 York Street. The tenant was SNC Lavilin.


5.0

$22.02

0

5

10

15

20

25

-100

-

100

200

300

400

500

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2 Ask

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* Public Transit available by TTC bus and subway systems. GO Transit network connects Toronto to Peel, York, Durham and Halton Regions via Bus and Train routes. * VIA Rail, Amtrak and Ontario Northlands rail service from Union Station.* Billy Bishop Toronto City Airport is minutes from the Downtown Core.* Major Highway to Downtown South Submarket: Gardiner Expressway.* Significant Office developments south of Union Station are redefining the boundaries of the Financial Core.* New facilities include: Corus Entertainment Headquarters, George Brown College Waterfront Campus.* Top Industries in Downtown South include: Finance, Insurance and Real Estate, Business Services, Information and Cultural Industries.


2011 Q1 2011 Q2 Trend

14,308,077 14,304,878 q157,774 102,788 q

6.1% 4.0% q$17.91 $18.07 p$14.50 $15.03 p


RECENT TRANSACTIONS




*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 214 office buildings surveyed in the Downtown West office region.


Office Inventory*

Net Absorption

Vacancy Rate



$33.38$33.75

$28.48

0

100

200

300

400

500

600

700

800

900

$25

$26

$27

$28

$29

$30

$31

$32

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SF (1

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2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

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Office Submarket DashboardDowntown West

* The top sale transaction this quarter was 3,500 SF for $1,360,000 at 123 John Street. The deal closed on March 31st. .

* The top lease transaction this quarter was 26,000 SF at 155 Wellington Street West. The tenant is Paliare Roland.


4.0

$18.07

0

2

4

6

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14

16

18

20

-50

-

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2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2 Ask

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* Offering many downtown location advantages, but at lower rental prices than in the Financial Core . * This submarket is an excellent option for those tenants whose operations do not require a core location.* Well connected to public transit (streetcars along King Street W and Queen Street W) and to the Gardiner Expressway, making this submarket accessible to employees and customers.* With many new residential high-rise developments (e.g. Concord City Place), the labour pool will increase and diversify.* Many former factory buildings (brick & beam) have been converted into office buildings, specifically hosting the Information Technology, Art and Design Industry.


2011 Q1 2011 Q2 Trend

18,300,645 18,232,300 q153,787 153,463 q

4.8% 4.7% q$15.56 $15.90 p$18.66 $18.35 q


RECENT TRANSACTIONS




*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 213 office buildings surveyed in the Midtown office region.


Office Inventory*

Net Absorption

Vacancy Rate



$41.40

$33.85

$28.76

0

200

400

600

800

1,000

1,200

$-

$5

$10

$15

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SF (1

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2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

0,00

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Office Market DashboardMidtown

* The top sale transaction this quarter was 64,575 SF for $12,601,000 at 161 Eglinton Avenue East. The deal closed June 7th.

* No major lease transactions were recorded during this period.


4.7

$15.90

0

2

4

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12

14

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18

-100

-50

-

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2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

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* Submarkets within the Midtown Market include: Toronto West, Yonge & Bloor, Yonge & St. Clair and Yonge & Eglinton.* Public Transit available by TTC bus and subway systems. GO Transit network connects Toronto to Peel, York, Durham and Halton Regions via Bus and Train routes. * Major Highways to Midtown Market: Highway 401 and Don Valley Parkway.* Major Corporations in the market include: RioCan, Canadian Tire, Toronto Transit Commission (TTC) and Desjardins Credit Union.* Top Industries in the Midtown Market include: Business Services, Finance, Insurance and Real Estate and Public Administration.


2011 Q1 2011 Q2 Trend

9,659,332 9,633,002 q61,748 40,969 q3.8% 4.0% p

$16.71 $17.51 p$19.95 $19.39 q


RECENT TRANSACTIONS




*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 74 office buildings surveyed in the Yonge-Bloor office region.


Office Inventory*

Net Absorption

Vacancy Rate



$42.83

$36.20

$30.59

0

100

200

300

400

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600

$-

$5

$10

$15

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SF (1

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2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

0,00

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Office Submarket DashboardYonge - Bloor

* The top sale transaction this quarter was 5,176 SF for $1,800,000 at 133 Lowther Avenue. The deal closed June 20th.



4.0

$17.51

0

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2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

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* Public Transit available by TTC bus and subway systems. GO Transit network connects Toronto to Peel, York, Durham and Halton Regions via Bus and Train routes. * Largest Midtown Office Submarket in terms of Total Inventory and Occupied Space.* Major Highway to Yonge-Bloor Submarket: Don Valley Parkway.* Labour pool intensification as a result of many new high-rise residential developments in the Submarket.* Top Employers include: TD Waterhouse, Bank of Montreal, Royal Bank of Canada and Hudson Bay Company.* Top Industries in the Yonge-Bloor Submarket include: Finance, Insurance and Real Estate, Business Services and Information and Cultural Industries.


2011 Q1 2011 Q2 Trend

2,619,344 2,619,344 tu-7,065 51,894 p5.3% 4.1% q

$16.51 $16.35 q$18.92 $18.38 q


RECENT TRANSACTIONS




*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 36 office buildings surveyed in the Yonge-St.Clair office region.


Office Inventory*

Net Absorption

Vacancy Rate



$41.91

$33.05 $32.74

0

20

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180

$-

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2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

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Office Submarket DashboardYonge - St. Clair




4.1

$16.35

0

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8

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12

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16

18

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-30

-20

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2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

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* Public Transit available by TTC bus and subway systems. GO Transit network connects Toronto to Peel, York, Durham and Halton Regions via Bus and Train routes. * Smallest Submarket in the Midtown Office Market in terms of Total Inventory and Occupied Space.* Major Highway to Yonge-St. Clair Submarket: Don Valley Parkway.* Top Industries in the Yonge-St. Clair Submarket include: Business Services, Finance, Insurance and Real Estate, and Public Administration.


2011 Q1 2011 Q2 Trend

4,746,576 4,746,711 p78,096 50,395 q7.4% 6.5% q

$14.99 $14.64 q$18.29 $18.07 q


RECENT TRANSACTIONS




*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 58 office buildings surveyed in the Yonge-Eglinton office region.


Office Inventory*

Net Absorption

Vacancy Rate



$36.97

$32.94

$27.36

0

50

100

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300

$-

$5

$10

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SF (1

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14%

16%

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2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

0,00

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Office Submarket DashboardYonge - Eglinton


* The top sale transaction this quarter was 64,575 SF for 12,601,000 at 161 Eglinton Avenue East. The deal closed June 7th.


6.5

$14.64

0

2

4

6

8

10

12

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16

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-20

-

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80

100

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

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* Public Transit available by TTC bus and subway systems. GO Transit network connects Toronto to Peel, York, Durham and Halton Regions via Bus and Train routes. * Major Highways to Yonge-Eglinton Submarket: Don Valley Parkway and Highway 401.* Yonge-Eglinton Submarket is a lively urban area and a mixed use community.* Submarket has been identified as an Urban Growth Centre by Provincial Growth. This designation with encourage continued re-energizing steps in the area so it remains vibrant and successful.* Top Industries in the Yonge-Eglinton Submarket include: Business Services, Personal Services, Finance, Insurance and Real Estate.


2011 Q1 2011 Q2 Trend

1,275,393 1,233,243 q21,008 10,205 q1.4% 4.7% p

$11.53 $12.93 p$12.10 $13.89 p


RECENT TRANSACTIONS




*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 45 office buildings surveyed in the Toronto West office region.


Office Inventory*

Net Absorption

Vacancy Rate



$0.00

$32.09

$23.29

0

10

20

30

40

50

60

70

80

90

100

$-

$5

$10

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SF (1

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Gro

ss R

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$/SF


-1%0%1%1%2%2%3%3%4%4%

0102030405060708090

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

0,00

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Office Submarket DashboardToronto West

* The top sale transaction this quarter was 18,935 SF for $1,800,000 at 1615 Dufferin Street. The deal closed on March 21st.



4.7

$12.93

0

2

4

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-10

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2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2 Ask

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* Public Transit available by TTC bus and subway systems. GO Transit network connects Toronto to Peel, York, Durham and Halton Regions via Bus and Train routes. * Major Highway to Toronto West Submarket: Gardiner Expressway.* VIA Rail, Amtrak and Ontario Northlands rail service available.* Billy Bishop Toronto City Airport is minutes from the Downtown Core.* Many former factory buildings have been converted into office buildings (brick and beam), housing many companies in the Information Technology, Fashion, Arts and Design industries.* Top Industries in the Toronto West Submarket include: Health Care and Social Assistance, Personal Services and Information and Cultural Industries.


2011 Q1 2011 Q2 Trend

17,661,083 17,590,109 q190,834 -95,273 q

5.9% 5.7% q$11.86 $12.21 p$13.37 $14.43 p


RECENT TRANSACTIONS




*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 207 office buildings surveyed in the Central East office region.


Office Inventory*

Net Absorption

Vacancy Rate



$29.57

$24.86$23.51

0

100

200

300

400

500

600

700

800

900

1,000

$-

$5

$10

$15

$20

$25

$30

$35


SF (1

0,00

0's)

Gro

ss R

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$/SF


0%5%10%15%20%25%30%35%40%45%50%

0

50

100

150

200

250

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

0,00

0's)



Office Market DashboardCentral East

* The top sale transaction this quarter was 244,925 SF for $25,250,445 at 155 Gordon Baker Road. The deal closed April 4th.

* The top lease transaction this quarter was 16,661 SF at 150 Ferrand Dr. The deal closed April 1st.


5.7

$12.21

0

2

4

6

8

10

12

14

-200

-100

-

100

200

300

400

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

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* Submarkets within the Central East Market include: Consumers Road, Don Mills/Eglinton, Duncan Mill, Toronto East and Woodbine/Steeles.* Public Transit available by Durham Transit. GO Transit network connects Toronto to Peel, York, Durham and Halton Regions via Bus and Train routes. * Major Highways to Central East Market include: Don Valley Parkway, Gardiner Expressway, Highway 401, Highway 404 and Highway 407 ETR.* Top Employers include: Deloitte, IBM, Wrigley’s Canada and Bell.


2011 Q1 2011 Q2 Trend

5,553,847 5,429,403 q29,148 -27,456 q4.9% 5.1% p

$10.33 $11.44 p$15.10 $14.86 q


RECENT TRANSACTIONS




*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 69 office buildings surveyed in the Don Mills - Eglinton office region.


Office Inventory*

Net Absorption

Vacancy Rate



$29.06

$26.02

$25.02

0

50

100

150

200

250

300

350

400

$22

$23

$24

$25

$26

$27

$28

$29

$30


SF (1

0,00

0's)

Gro

ss R

ent

$/SF


0%5%10%15%20%25%30%35%40%45%50%

0102030405060708090

100

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

0,00

0's)



Office Submarket DashboardDon Mills - Eglinton


* The top lease transaction this quarter was 16,661 SF at 150 Ferrand Dr. The deal closed April 1st.


5.1

$11.44

0

2

4

6

8

10

12

14

-40

-30

-20

-10

-

10

20

30

40

50

60

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

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* Major Highways to the Don Mills-Eglinton Submarket: Highway 401, Don Valley Parkway and Highway 404.* Public Transit available by TTC bus and subway systems. GO Transit network connects Toronto to York, Peel, Durham and Halton Regions via Bus and Train routes. * New facilities include Cadillac Fairview’s Shops at Don Mills, a community-based lifestyle centre with mid-rise residential units, retail and office space.


2011 Q1 2011 Q2 Trend

2,346,711 2,308,216 q12,144 -12,380 q3.8% 4.5% p

$10.39 $9.77 q$11.40 $14.30 p


RECENT TRANSACTIONS




*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 38 office buildings surveyed in the Duncan Mill office region.


Office Inventory*

Net Absorption

Vacancy Rate



$28.46

$22.90

$26.12

0

20

40

60

80

100

120

140

160

$-

$5

$10

$15

$20

$25

$30


SF (1

0,00

0's)

Gro

ss R

ent

$/SF


0%

10%

20%

30%

40%

50%

60%

70%

80%

02468

101214161820

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

0,00

0's)



Office Submarket DashboardDuncan Mill




4.5

$9.77

0

2

4

6

8

10

12

14

-50

-

50

100

150

200

250

300

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

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* Major Highways to the Duncan Mills Submarket: Highway 401, Don Valley Parkway and Highway 404.* Public Transit available by TTC bus and subway systems. GO Transit network connects Toronto to York, Peel, Durham and Halton Regions via Bus and Train routes. * Top Employers include: Bell, Deloitte, Rogers and Imperial Oil.Great exposure along the Don Valley Parkway.


2011 Q1 2011 Q2 Trend

3,752,380 3,749,427 q59,770 -28,695 q9.9% 8.7% q

$12.54 $12.83 p$14.69 $15.11 p


RECENT TRANSACTIONS




*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 30 office buildings surveyed in the Consumer Road office region.


Office Inventory*

Net Absorption

Vacancy Rate



$31.41

$26.33

$23.07

0

50

100

150

200

250

$-

$5

$10

$15

$20

$25

$30

$35


SF (1

0,00

0's)

Gro

ss R

ent

$/SF


0%

2%

4%

6%

8%

10%

12%

14%

0

10

20

30

40

50

60

70

80

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

0,00

0's)



Office Submarket DashboardConsumers Road




8.7

$12.83

0

2

4

6

8

10

12

14

-40

-30

-20

-10

-

10

20

30

40

50

60

70

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

Ask

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(%)

Thou

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* Major Highways to the Consumer Road Submarket: Highway 401, Don Valley Parkway and Highway 404.* Public Transit available by TTC bus and subway systems and Viva (Rapid Bus). GO Transit network connects Toronto to York, Peel, Durham and Halton Regions via Bus and Train routes.* Great exposure from Highway 401 and Highway 404.


2011 Q1 2011 Q2 Trend

4,734,684 4,749,602 p66,233 -34,692 q6.2% 6.1% q

$12.87 $12.90 p$11.83 $14.21 p


RECENT TRANSACTIONS




*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 50 office buildings surveyed in the Woodbine Steeles office region.


Office Inventory*

Net Absorption

Vacancy Rate



$28.59

$20.30 $19.40

0

50

100

150

200

250

300

350

$-

$5

$10

$15

$20

$25

$30

$35


SF (1

0,00

0's)

Gro

ss R

ent

$/SF


0%5%10%15%20%25%30%35%40%45%50%

0

10

20

30

40

50

60

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

0,00

0's)



Office Submarket DashboardWoodbine Steeles

* The top sale transaction this quarter was 244,925 SF for $25,250,445 at 155 Gordon Baker Road. The deal closed April 4th.



6.1

$12.90

0

2

4

6

8

10

12

14

-60

-40

-20

-

20

40

60

80

100

120

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

Ask

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Net

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(%)

Thou

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* Major Highways to the Woodbine-Steeles Submarket: Highway 404 and Highway 407 ETR.* Public Transit available by TTC bus and subway systems, York Region Transit and Viva (Rapid Bus). GO Transit network connects Toronto to York, Peel, Durham and Halton Regions via Bus and Train routes* Great exposure from Highway 404 and Highway 407 ETR.* Close proximity to Buttonville Municipal Airport.


2011 Q1 2011 Q2 Trend

1,273,461 1,353,461 p23,539 7,950 q1.5% 0.9% q

$10.78 $11.46 p$7.75 $6.52 q


RECENT TRANSACTIONS




*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 20 office buildings surveyed in the Toronto East office region.


Office Inventory*

Net Absorption

Vacancy Rate



$0.00

$17.44

$20.70

0

10

20

30

40

50

60

70

80

90

100

$-

$5

$10

$15

$20

$25


SF (1

0,00

0's)

Gro

ss R

ent

$/SF


0%5%10%15%20%25%30%35%40%45%50%

0123456789

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

0,00

0's)



Office Submarket DashboardToronto East

** The top sale transaction this quarter was 6000 SF for $1,800,000 at 2216 Queen Street East. The deal closed April 1st.



0.9

$11.46

0

2

4

6

8

10

12

14

-

5

10

15

20

25

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

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* Major Highways to the Toronto East Submarket: Don Valley Parkway and Gardiner Expressway.* Public Transit available by TTC bus and subway systems. GO Transit network connects Toronto to York, Peel, Durham and Halton Regions via Bus and Train routes* Billy Bishop Toronto City Airport is minutes from the Toronto East submarket.* Submarket is primarily residential, with extremely diverse neighbourhoods.* New facilities include: Corus Quay, Filmport facility and George Brown College Waterfront Campus.


2011 Q1 2011 Q2 Trend

12,094,010 12,091,535 q131,454 22,741 q

4.9% 5.5% p$18.90 $15.44 q$18.31 $16.59 q


RECENT TRANSACTIONS




*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 126 office buildings surveyed in the Central North office region.


Office Inventory*

Net Absorption

Vacancy Rate



$37.12

$27.96

$18.04

0

100

200

300

400

500

600

700

$-

$5

$10

$15

$20

$25

$30

$35

$40


SF (1

0,00

0's)

Gro

ss R

ent

$/SF


0%5%10%15%20%25%30%35%40%45%50%

0

20

40

60

80

100

120

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

0,00

0's)



Office Submarket DashboardCentral North

* The top sale transaction this quarter was 3,200 SF for $ 2,700,000 at 323 Sheppard Avenue East. The deal closed on March 29th.

* The top lease transaction this quarter was 22,209 SF at 36 York Mills Road. The deal closed on April 27th.


5.5

$15.44

0

2

4

6

8

10

12

14

16

18

20

-250

-200

-150

-100

-50

-

50

100

150

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

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* Submarkets within the Central North Market include: Dufferin & Finch, Keele/Highway 401/Yorkdale, and North Yonge Corridor.* Predominant office concentration in Central North located between York Mills and Finch along Yonge Street* Public Transit available by TTC bus and subway systems. GO Transit network connects Toronto to Peel, York, Durham and Halton Regions via Bus and Train routes. * Major Highways to Central North Market include: Don Valley Parkway, Highway 400, Highway 401 and Highway 407 ETR.* Major Companies in this market include Proctor & Gamble and Nestle.


2011 Q1 2011 Q2 Trend

1,787,284 1,787,284 tu20,200 6,200 q1.8% 1.6% q$8.75 $9.00 p$11.75 $11.98 p


RECENT TRANSACTIONS




*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 28 office buildings surveyed in the Yorkdale office region.


Office Inventory*

Net Absorption

Vacancy Rate



$0.00

$25.37

$17.08

0

20

40

60

80

100

120

140

$-

$5

$10

$15

$20

$25

$30


SF (1

0,00

0's)

Gro

ss R

ent

$/SF


0%

1%

2%

3%

4%

5%

6%

7%

8%

0123456789

10

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

0,00

0's)



Office Market DashboardYorkdale

* The top sale transaction this quarter was 3,200 SF for $ 1,000,000 at 1212 Eglinton Avenue West. The deal closed on April 18th.



1.6

$9.00

0

5

10

15

20

25

30

-25

-20

-15

-10

-5

-

5

10

15

20

25

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

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(%)

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* Public Transit available by TTC bus and subway systems. GO Transit network connects Toronto to Peel, York, Durham and Halton Regions via Bus and Train routes. * Major Highway to Keele/Highway 401/Yorkdale Submarket: Highway 401.* Great visibility from Highway 401.* Submarket contains Oxford Properties’ Yorkdale Shopping Centre, the 5th largest mall in Canada, with the highest sales per square foot in Canada of $1,000/SF.


2011 Q1 2011 Q2 Trend

1,412,500 1,410,235 q1,438 -1,412 q1.4% 13.9% p

$12.93 $12.18 q$10.45 $11.67 p


RECENT TRANSACTIONS




*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 32 office buildings surveyed in the Dufferin Finch office region.


Office Inventory*

Net Absorption

Vacancy Rate



$0.00

$23.94

$18.13

0

20

40

60

80

100

120

$-

$5

$10

$15

$20

$25

$30


SF (1

0,00

0's)

Gro

ss R

ent

$/SF


-1%

0%

1%

2%

3%

4%

5%

0

5

10

15

20

25

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

0,00

0's)



Office Submarket DashboardDufferin Finch




13.9

$12.18

0

2

4

6

8

10

12

14

16

-180

-160

-140

-120

-100

-80

-60

-40

-20

-

20

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

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(%)

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* Public Transit available by TTC bus and subway systems. GO Transit network connects Toronto to Peel, York, Durham and Halton Regions via Bus and Train routes. * Major Highways to Dufferin-Finch Submarket: Highway 401, Highway 400 and Highway 407 ETR.* Within close proximity to Lester B. Pearson International Airport.* Great visibility from Highway 400.


2011 Q1 2011 Q2 Trend

8,894,226 8,894,016 q109,816 17,953 q

6.0% 5.0% q$20.44 $17.40 q$19.53 $19.13 q


RECENT TRANSACTIONS




*Office Inventory: For the purpose of this report, buildings with less than 10,000 SF of office space and buildings owned and occupied by the government have not been included in the office inventory. There are 66 office buildings surveyed in the North Yonge Corridor office region.


Office Inventory*

Net Absorption

Vacancy Rate



$37.12

$34.40

$35.00

0

100

200

300

400

500

600

700

$33

$34

$34

$35

$35

$36

$36

$37

$37

$38


SF (1

0,00

0's)

Gro

ss R

ent

$/SF


0%5%10%15%20%25%30%35%40%45%50%

0102030405060708090

100

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

SF (1

0,00

0's)



Office Submarket DashboardNorth Yonge Corridor

* The top sale transaction this quarter was 3,200 SF for $ 2,700,000 at 323 Sheppard Avenue East. The deal closed on March 29th..

* The top lease transaction this quarter was 22,209 SF at 36 York Mills Road. The deal closed on April 27th.


5.0

$17.40

0

5

10

15

20

25

-250

-200

-150

-100

-50

-

50

100

150

2010 Q1 2010 Q2 2010 Q3 2010 Q4 2011 Q1 2011 Q2

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Net

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) / V

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(%)

Thou

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F)


* Public Transit available by TTC bus and subway systems. GO Transit network connects Toronto to Peel, York, Durham and Halton Regions via Bus and Train routes. * Major Highways to North-Yonge Corridor Submarket: Highway 401 and Don Valley Parkway.* Tighter Submarket with limited large office space availability.

office market dashboard 2011 q2 central

Real Estate

sf of office space

office buildings

downtown office region

office spacenot avail

size of office market

gta office region

sf of officespace

class aaa class