Office Submarket Dashboard Downtown Core
2013 Q2 SUBMARKET SNAPSHOT
MAP OF SUBMARKET
Average Weighted Asking Rent
Average Additional Rent
tu q p p p q
*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 127 office buildings surveyed in the Downtown Core office region.
AVAILABLE SUPPLY SPLIT Sublease % of Total Avail.
50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0%
200 150 100 50
0 2012 Q1
GROSS RENT & AVAILABILITY BY BUILDING CLASS Avail. Office Space
200 15 100 10 2012 Q1
1. Net absorption: The net change in physically occupied space between the current measurement period and the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not included in net absorption calculations because pre-leasing does not involve any change in occupancy. 2. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not determined by whether or not a tenant is paying rent on the space. 3. Availability rate: The amount of available space divided by the building inventory base. Available space is space that is available for lease or sublease and may or may not be vacant. 3. Average Weighted Asking Rent: The average asking rent per square foot for buildings in an office market or submarket weighted by the total amount of square footage in the building. 4. Additional Rent comprises of operating costs and property taxes, per square foot per year. 5. Gross Rent: Obtained when adding additional rent to the net rent.
Asking Net Rent ($) / Vacancy Rate (%)
Asking Net Rent
18-MONTH TREND Absorption
Not Avail. Office Space
Gross Rent $/SF
SUBMARKET CHARACTERISTICS *The Downtown Core, with the largest inventory of office space, offers a highly-skilled and welleducated labour pool. *The Core is home to many of the leading professional office users. *Limited parking, but quick access to public transit such as the metro, bus, train station and the PATH system, Montreal's underground walkway. *Easy access to major highways, namely the 720, 20 and 15. 20 minutes to P.E.T. airport. *Amenities and services such as restaurants, shopping, banking and workout facilities add convenience for employees and customers. *Total inventory: just over 33.6 million square feet.
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. Quoted asking rents are based on a 5 year deal with TI's of $25.00 Class A, $20.00 Class B & C.
RECENT LEASE TRANSACTIONS 2-3, Place Ville Marie
VIA Rail Canada
5, Place Ville Marie
Ordre des CGA
1, Place Ville Marie
Banque Royale du Canada
895, de la Gauchetière O.
1250, René-Lévesque O.
Colliers International, 2013 Q2 This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. 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 (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc. and /or its licensor(s) © 2013 . All rights reserved.