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Q4 2009 Office Property Market Trends Downtown Vancouver - BC

Office market summary Q4 2009 Class All Classes A B C

Buildings 156 50 52 54

Inventory (sq ft) 20,493,095 12,426,036 5,305,242 2,761,817

Total available (sq ft) 1,036,493 394,858 328,236 313,399

Vacancy rate 5.1% 3.2% 6.2% 11.3%

Sublet available (sq ft) 388,510 175,683 148,405 64,422

Sublet vacancy rate 1.9% 1.4% 2.8% 2.3%

Q4 2009 vacancy by asset class type

Q4 2009 average asking face rates and additional rent costs $70.00

Sublet B 10%

$60.00

Sublet C 5% Direct A 28%

$50.00 $40.00

Sublet A 12%

$30.00 $20.00 $10.00 $0.00 All Classes

A

B

C

Direct C 22%

Average TMI ($/Sq ft)

Direct B 23%

Average Asking Face Rate ($/Sq ft)

Direct and sublet vacancies

Vacancy rates 12.00%

1600000 1400000

10.00%

1200000

(sq ft)

1000000

8.00% All Classes

800000

Class A

6.00%

600000

Class B Class C

400000

4.00%

200000

2.00%

0 Q4 2008

Q1 2009

Q2 2009

Q3 2009

Q4 2009

Sublet Vacant Direct Vacant

0.00% Q4 2008

Q1 2009

Q2 2009

Q3 2009

Q4 2009

Data Overview - Sources: - Altus InSite Office Market - Available Space History (1/25/2010) - Altus InSite Office Market - Occupancy Costs History (1/25/2010) - This document should not be relied upon as a basis for entering transactions without seeking specific, qualified advice. Whilst facts have been rigorously checked, DTZ Barnicke can take no responsibility for any damage or loss suffered as a result of any inadvertent inaccuracy within this document.

Q4 2009 Office Property Market - Downtown Vancouver

DTZ Barnicke Vancouver Limited

800 - 475 West Georgia Street, Vancouver, B.C. V6B 4M9 Tel: (604) 684 7117 Fax: (604) 684 1017 www.dtzbarnicke.com/vancouver


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