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Office Submarket Dashboard: Yonge & St. Clair SUBMARKET INDICATORS

Q3-09

MAP OF SUBMARKET

Q2 2009

Q3 2009

Office Inventory*

2,853,211

2,853,211

Net Absorption

16,648

(21,133)

Vacancy Rate

1.3%

2.7%

Average Asking Net Rent

$16.94

$17.02

Average Additional Rent

$18.78

$19.11

Trend

*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 37 office buildings surveyed in this submarket.

AVAILABLE SUPPLY SPLIT Sublease

Direct

Sublease as % of Total Available

AVAILABLE SPACE OPTIONS

250,000

75%

Number of units on the submarket by size brackets

65%

Square Feet

200,000

55% 45%

150,000 100,000

0 - 4k sf

4k - 10k sf

10k - 20k sf

20 - 50k sf

50k - 100k sf

100k sf +

32

10

3

2

0

0

# of units**

35%

** Counting smallest divisible units in existing buildings and buildings which are under construction.

25%

RECENT TRANSACTIONS Q3 2009

15%

50,000

TOP Office Lease Transactions by Size

5%

Address

0

Suite

-5%

Q2 2008

Q3 2008

Q4 2008

Q1 2009

Q2 2009

Not Avail. Office Space

Tenant

TOP Office Sale Transactions by Price

Gross Rent

$45

Date

Address

Price

Vendor

Purchaser

Size

$/PSF

2,000,000

$33.45

$40

No transactions took place during this period.

1,800,000

$41.12

OCCUPIED SPACE BY MAJOR BUSINESS CATEGORIES

1,600,000

$35

1,400,000

$30

1,200,000

$31.79

$25

1,000,000 $20

Sq. Ft.

Gross Rent $/Sq. Ft.

Landlord

No transactions took place during this period.

Q3 2009

GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space

Sq. Ft.

800,000 $15

Professional Services 24%

Finance 15%

600,000

$10

400,000

$5

200,000

$-

-

Manufacturing & Distribution 10%

Class A Class B Class C Note: Not available office space (blue) and available office space (yellow) add up to the total inventory of office space in the respective building class.

Data,Publishing, Broadcasting Services 8%

18 MONTH TREND Absorption

Asking Net Rent

Public Service & Private Sector Services 41%

Others 2%

Vacancy Rate

9.0% 17

$17.02

TOP PROJECTS UNDER CONSTRUCTION BY SIZE

7.0%

Address

Developer

Sq. Ft.

Anchor Tenant

Est. Com.

13

No construction took place during this period.

5.0% 11

2.7%

9

3.0%

7 1.0% 5 3

-1.0%

1 -3.0% -1

Q2 2008

Q3 2008

Q4 2008

-3

Q1 2009

Q2 2009

Q3 2009 -5.0%

Vacancy Rate

Net Rent $/sf. / Absorption (10,000's)

15

SUBMARKET CHARACTERISTICS * Smallest office submarket of the Midtown office market * Due to small total inventory submarket usually doesn’t have many space options available * Vacancy Rate remains below the 9% threshold and Rental costs are fairly stable due to this fact * Great access to public transit and proximity to local labour force * Most buildings in this submarket have been built between 1960-1990 with some of them being renovated in the 1990s * Submarket will benefit from the development of the Metrolinx transportation plan and MoveOntario 2020.

Source: Colliers International, Q3 2009 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.

Yonge St. Clair Submarket Dashboard Q3 2009  

Sublease Direct Sublease as % of Total Available Sublease Direct Sublease as % of Total Available 50,000 50,000 50,000 Note: Not available o...

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