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Office Space | Industrial Space

The Greater Toronto Area offers the 2nd largest concentration of industrial space after Chicago and the 4th largest concentration of office space in North America.

GTA real estate demand is driven by business growth, competitive interest rates and good market returns compared to securities and other global investments.

Office Space

The GTA provides a wide range of office space choice, from luxury to utility, busy city core to suburban calm. With an office vacancy rate of 8.5% and another 1.9 million square feet under construction, net absorption of office space remains positive with plenty of opportunity for both the discriminating buyer and the bargain hunter.

GTA OFFICE MARKET HIGHLIGHTS

Market Area	Inventory	Vacancy Rate	Availability Rate	Direct Space Ratio	Sublet Space Ratio	Average Asking Rate	Average Additional	Under Construction
West	29,549,652	9.60%	1.60%	78.50%	21.50%	$14.87	$12.81	536,625
North East	24,066,276	10.50%	13.00%	76.00%	24.00%	$12.03	$13.56	0
North Yonge Corridor	7,743,534	6.20%	8.50%	65.50%	34.50%	$17.63	$18.75	0
Midtown	14,171,932	6.50%	8.00%	77.30%	22.70%	$16.55	$19.18	0
Downtown	53,122,746	7.70%	9.00%	82.40%	17.60%	$25.29	$26.06	1,358,405
GTA	128,634,140	8.50%	10.20%	78.60%	21.40%	$18.62	$18.90	1,895,030

Market statistics are based on the office inventory, excluding government occupied offices, owner occupied offices, and offices with less than 20,000 square feet of rentable office space.
Source: DTZ Barnicke Office Property Market, Greater Toronto Area, Q1 2010

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Industrial Space

Even in the face of recent world economic uncertainty, industrial space within the GTA continues to be in high demand. Despite the addition of over 800,000 square feet of space in the first quarter of 2010, the amount for sale has remained unchanged compared to Q4 of 2009, holding at a low 2.5% availability.

GTA INDUSTRIAL MARKET HIGHLIGHTS

Market Area	Inventory	Available For Lease Q1 2010	Available For Lease Q4 2009	Average Rental Rate	Average Additional Rate	Available For Sale Q1 2010	Available for Sale Q4 2009	Under Construction (Sq Ft)	Completions in Q1 2010 (SqFt)
West	323,157,426	9.40%	8.60%	$5.23	$2.65	2.50%	2.30%	106,118	690,000
North	137,757,901	9.50%	8.70%	$5.29	$2.93	2.80%	2.50%	467,191	0
East	27,945,978	14.10%	13.00%	$4.78	$2.70	7.70%	7.70%	111,200	0
Central	278,072,878	6.10%	6.20%	$4.42	$3.26	1.90%	2.20%	289,575	122,234
GTA	766,934,183	8.40%	7.90%	$5.01	$2.85	2.50%	2.50%	974,084	812,234

* Based on availability of industrial space for sale, lease or sublease above 8,900 sq. ft.
Source: DTZ Barnicke Office Property Market, Greater Toronto Area, Q1 2010

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