Toronto Central strengthens its position as market with lowest office vacancy in North America

Size: px
Start display at page:

Download "Toronto Central strengthens its position as market with lowest office vacancy in North America"

Transcription

1 MARKETVIEW Toronto Office MarketView, Q Toronto Central strengthens its position as market with lowest office vacancy in North America GTA Vacancy Rate 9.1% GTA Asking Net Rental Rate $17.72 PSF GTA Net Absorption 1,079,344 SF GTA New Supply 648,476 SF Figure 1: GTA Office Market Fundamentals All Classes Net Absorption & New Supply (000s sq. ft.) 2,000 1,500 1, *Arrows indicate change from previous quarter. Vacancy Rate (%) (500) Q Q Q Q Q Q Q Q Q Q Q Net Absorption New Supply Vacancy Rate 6 Following another quarter of sustained tenant demand, vacancy in Downtown Toronto continued to decline in Q with quarter-over-quarter vacancy compressing from 4.8% to 4.2%. Toronto maintained its position as the market with the lowest downtown vacancy rate in North America. The decrease in the Toronto vacancy rate is the result of sustained tenant demand for downtown space and continued efforts by landlords to backfill vacated class A space. At the same time, GTA suburban markets witnessed favourable leasing activity as the overall vacancy rate decreased by 30 bps even while two new buildings were delivered. Brick-and-beam space continues to be highly sought-after by the technology sector. Resulting from high demand and limited supply, net rental rates have increased has continued to be a stand-out year for the Toronto office market. Net absorption in the third quarter remained strong, with Downtown at 406,344 sq. ft. and GTA at 1,079,344 sq. ft. At 1,399,032 sq. ft., the Downtown year-to-date net absorption is the highest third quarter recorded since A significant portion of the Downtown net absorption was fueled by the technology sector. This sector accounted for 36.7% of all new, sublet and expansion leasing activity this quarter. This resulted in further contractions in the vacancy rates of the Downtown South, Downtown West and Liberty Village submarkets. Along with the technology sector, the business services and other financial services accounted for significant components of the downtown absorption at 17.6% and 11.5%, respectively. While the public sector was also active this quarter, their activity had Q CBRE Research 2016, CBRE Limited 1

2 MARKETVIEW TORONTO OFFICE minor impacts on the net absorption given that the bulk of their lease transactions were renewals and extensions. Activity from technology firms has been especially felt in the brick-and-beam market where demand for this space has driven up net rental rates by a staggering 25% since Tenants in the market for 5,000 10,000 sq. ft. are finding themselves having to compete for space and as a consequence are having to consider sublet space as an alternative. While the Midtown market witnessed near zero absorption this quarter, strong tenant demand in the Downtown market has driven down the Toronto Central vacancy rate from 4.9% to 4.4% as of Q As shown in Figure 2, Toronto now boasts a vacancy rate that is 2.5% lower than the market with the next lowest downtown vacancy rate in North America. In 2016, Downtown Toronto witnessed 1,132,826 sq. ft. of new office supply with a further 1,256,358 sq. ft. projected for completion in the next quarter. As tenants move into these new buildings, landlords are continuing their efforts to backfill vacated space. As some of this space has not yet formally come back on the market, we expect the vacancy rate to either remain flat or trend marginally upwards in the coming months. Despite the continued trend of tenants opting to relocate from the suburbs to the Downtown market, the Suburban market has also seen a healthy third quarter. Overall, there was positive quarterly net absorption of 736,695 sq. ft. this quarter, resulting in the Suburban vacancy rate dropping by 30 bps to 14.4%. The strongest absorption was seen in the GTA s northern-most submarket, Markham North/Richmond Hill, which accounted for over one third of the total Suburban year-to-date net absorption. Figure 2: Top 10 North American Downtown Office Vacancy (inventory greater than 20 million sq. ft.) TORONTO* 4.4% SAN FRANCISCO BOSTON 6.9% 7.2% MANHATTAN PORTLAND SEATTLE VANCOUVER 7.9% 8.4% 8.4% 8.9% PITTSBURGH HOUSTON 10.3% 10.3% MONTREAL 11.0% 0% 2% 4% 6% 8% 10% 12% *For the purpose of the above study, Toronto references Toronto Central which includes the Downtown and Midtown markets. Q CBRE Research 2016, CBRE Limited 2

3 MARKETVIEW TORONTO OFFICE Figure 3: Q Office Market Statistics Submarket Inventory Vacancy Rate (%) Sublease as % of Vacant (%) Q3 Net Absorption YTD Net Absorption Q3 New Supply Under Construction Net Rent ($/SF) CENTRAL 84,320, ,329 1,668, ,857, Downtown 69,964, ,344 1,399, ,857, Financial Core 25,710, , , , Greater Core 19,406, , , , Downtown South 5,419, (46,140) (62,378) 0 1,192, Downtown North 7,515, , , Downtown East 2,705, ,645 30, , Downtown West 7,046, , , , Liberty Village 2,161, (26,409) (21,887) Midtown 14,355, , , Bloor / Yonge 7,271, (37,001) 74, St. Clair / Yonge 2,193, ,564 47, Eglinton / Yonge 4,890, , , SUBURBAN 74,694, , , , , East 25,611, , , ,476 20, Scarborough 3,632, , Markham N. / R. Hill 7,871, , , , Markham South 3,167, ,914 64, E. York / D. Mills S. 2,639, (32,293) (34,564) Don Mills North 2,822, ,222 67,152 45, Consumers Road 3,868, (9,433) (28,644) 0 20, G. Baker / Vic. Park 1,609, ,718 (43,746) North 12,422, , , , , North Yonge 7,707, (106,806) (60,780) North York West 2,170, ,880 (752) Vaughan 2,543, , , , , West 36,660, , , , Bloor / Islington 1,868, ,640 53, Corridor 2,414, (30,186) (126,044) Airport Strip 3,313, (13,627) 20, Airport Corp. Centre 6,389, ,695 1, Mississauga South 1,927, (2,334) (22,824) 0 77, City Centre 3,808, , , Hwy 10 / Hwy 401 4,378, ,992 91, Meadowvale 4,442, , , , Brampton 1,157, ,887 (33,034) Oakville 3,644, ,079 (52,108) 0 122, Burlington 3,315, ,485 (24,797) GTA 159,015, ,079,344 2,405, ,476 3,401, Q CBRE Research 2016, CBRE Limited 3

4 MARKETVIEW TORONTO OFFICE DOWNTOWN MIDTOWN As the Greater Toronto Area boasts the highest third quarter year-to-date net absorption since 2007, the Downtown Toronto year-to-date absorption of 1,399,032 sq. ft. is the highest since Given that the almost fully pre-leased One York and Globe and Mail Centre (351 King St E) developments are due for completion next quarter, 2016 absorption will be increased by their aggregate 1.2 million sq. ft. next quarter. The impact of this new supply is net absorption is expected to be partially offset once Oxford Properties Group begins to market the space in RBC Plaza being vacated by OMERS and Norton Rose LLP in their moves to EY Tower. The Downtown West and Liberty Village brick-andbeam markets continued to see strong tenant demand and constrained supply, resulting in low vacancies and high net rental rates. As of Q3 2016, the average net rental rate for this asset class was $25.72, well above the $19.89 average rate in FINANCIAL CORE The Midtown market remains one of the most stable submarkets in Toronto. This was emphasized by numerous extensions and renewals through-out Q This stability was emphasized by the net absorption, which was a near zero at 3,985 sq. ft. this quarter for the Midtown market. The overall vacancy rate remained stable changing from 5.3% to 5.2% quarter-over-quarter. Tenants continued to seek office space in close proximity to subway stations. Moving forward the Eglinton Crosstown LRT, which is under construction and due for completion in 2020, is expected to continue to attract tenants and developers to the submarket. GREATER CORE The vacancy rate in the Financial Core dropped by 100 basis points this quarter, the highest single quarter drop seen in two years. This decrease in vacancy can primarily be correlated to the space taken in 161 Bay St formally coming offline this quarter. As landlords look to release space vacated by tenants moving into new buildings, net rental rates in the Financial Core have remained relatively flat. While the year-to-date absorption of 908,521 sq. ft. is the highest absorption seen since Q4 1994, we expect absorption to flatten or become negative in the Financial Core as tenants relocate into new supply, leaving large blocks of space vacant. With a vacancy rate of 2.6%, the Greater Core is the submarket with the lowest vacancy rate in all of the Greater Toronto Area. The last block of contiguous available space over 30,000 sq. ft. in this submarket was taken by Canada Booking.com at 70 University Ave. As Class A space in the Greater Core continues to compete with the Financial Core, net rental rates for Class A assets in the Greater Core have fallen by 2% since Q Q CBRE Research 2016, CBRE Limited 4

5 MARKETVIEW TORONTO OFFICE SUBURBAN TORONTO EAST On the heels of strong positive net absorption this quarter, the Suburban Toronto office market saw its vacancy rate decrease for a second time closing at 14.4%; down 30 bps from Q This absorption was largely driven by the completion of the Aviva building and KPMG Tower, which were delivered to the market 83% and 43% pre-leased, respectively. Net absorption was a positive 350,000 sq. ft. in Q3 2016, mainly attributed to the completion of the Aviva building at 7890 Birchmount Road. However, the vacancy rates decreased by only 10 basis points to 12.2% in Q The majority of the positive absorption this quarter was in Markham North/Richmond Hill and Markham South areas. Suburban net rental rates are up 3.0% from a year ago, climbing from $15.37 to $15.83 p.s.f. since Q This contrasts with Toronto Central net rental rates which are down 3.9% over this same time period. The Meadowvale, Steeles/Woodbine and Bloor/Islington submarkets also saw positive net absorptions above 50,000 sq. ft. from leasing activity, rather than the delivery of pre-leased buildings. Current tax and operating costs in the East market is $ For the third consecutive quarter taxes and operating costs have increased, reaching its highest since Q Net rental rates have increased for the third consecutive quarter in the Scarborough market, reaching its highest since Q TORONTO WEST TORONTO NORTH The vacancy rate in the Toronto West market fell 1.1% since Q with the greatest decrease seen in Meadowvale. The Meadowvale submarket also experienced the highest growth in average net rental rates when compared to other nodes, up 5.0% since last quarter. Two of Toronto West's largest deals this quarter occurred in the Airport Corporate Centre submarket with Revera Retirement Living and Ricoh Canada leasing significant parcels of space at 5015 Spectrum Way and 5560 Explorer Drive, respectively. Two large sub-lease deals were also completed in Oakville and Meadowvale, totaling 53,500 sq. ft. Since Q3 2015, the Toronto West market has generated approximately 615,000 sq. ft. of brand new speculative construction. By the end of 2016, two more spec buildings are scheduled for completion in the Meadowvale and Oakville submarkets. This new construction will add an additional 250,000 sq. ft. of space to the market. Current vacancy rates were heavily influenced by the completion of the KPMG Tower in Vaughan, which has more than doubled that submarkets vacancy rate from 4.2% to 9.7% in Q As a result of the newly constructed KPMG Tower, the amount of vacant space increased to 1,000,000 sq. ft. in the Toronto North market. Overall gross rental rates are up by $2.00 per sq. ft. to $38.83 in Q The majority of the positive gross rental rates was in the Vaughan market area. With two buildings totalling 300,000 sq. ft. under construction in Vaughan and one building that have been fully constructed, tenant activity could see upturn in Q Q CBRE Research 2016, CBRE Limited 5

6 MARKETVIEW TORONTO OFFICE Figure 4: Q Significant Lease Transactions Size Tenant Address Submarket Type 53,500 Canada Booking.com 70 University Ave Greater Core New 51,000 Revera Retirement Living 5015 Spectrum Way Airport Corporate Centre New 48,500 OneEleven 325 Front St W Downtown West New 46,500 Vale Canada Limited 200 Bay St Financial Core Extension 37,500 Ecobee 207 Queens Quay W Downtown South New 31,000 Sack Goldblatt Mitchell LLP 20 Dundas St W Greater Core Extension 30,000 Vena Solutions 2 Fraser Ave Liberty Village New 28,000 SNC Lavalin Nuclear Inc Speakman Dr Mississauga South New 26,500 BDO LLP 20 Wellington St E Greater Core New 25,000 Softchoice 2 Fraser Ave Liberty Village New GLOSSARY Net Absorption:A measure of the net change in occupied space over a given period of time. Net Rental Rate:The asking rental rate not including taxes and operating costs. Class RC Space:Renovated and retrofitted, brick-and-beam, industrial/warehouse-style space converted to office use. Vacancy Rate:The percentage of total office space in a given area that is currently vacant and available for occupancy. CONTACTS Marc Meehan Senior Research Analyst Russell Wills Senior Research Analyst Radek Pindiur Senior Research Analyst OFFICES Toronto Downtown 145 King St W, Suite 1100 Toronto, ON M5H 1J8 Toronto North 2001 Sheppard Ave E, Suite 300 Toronto, ON M2J 4Z8 Toronto West 5935 Airport Rd, Suite 700 Mississauga, ON L4V 1W5 To learn more about CBRE Research, or to access additional research reports, please visit the Global Research Gateway at Disclaimer: Information contained herein, including projections, has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to confirm independently its accuracy and completeness. This information is presented exclusively for use by CBRE Limited clients and professionals and all rights to the material are reserved and cannot be reproduced without prior written permission of CBRE Limited.

Leasing cools, but deal flow consistent

Leasing cools, but deal flow consistent MARKETVIEW Downtown Manhattan Office, Q3 216 Leasing cools, but deal flow consistent Leasing Activity.85 MSF Net Absorption (.12) MSF Availability Rate 11.7 Vacancy Rate 9.3 Average Asking Rent $57.5 PSF

More information

Greater Toronto Area, ON

Greater Toronto Area, ON Greater Toronto Area, ON Office Q1 218 GREATER TORONTO AREA OFFICE Economic Indicators Q1 17 Q1 18 GTA Employment 3.2 mil 3.4 mil GTA Unemployment 7.1% 5.8% Canada Unemployment 6.7% 5.8% Source: Statistics

More information

Greater Toronto Area, ON

Greater Toronto Area, ON Greater Toronto Area, ON Office Q2 217 GREATER TORONTO AREA OFFICE Economic Indicators Q2 16 Q2 17 GTA Employment 3.2 mil 3.3 mil GTA Unemployment 7.6% 6.9% Canada Unemployment 6.9% 6.6% Source: Statistics

More information

Demand for smaller, more secondary assets on the rise amid the recent scarcity of large warehouse space

Demand for smaller, more secondary assets on the rise amid the recent scarcity of large warehouse space MARKETVIEW Toronto Industrial, Q3 2015 Demand for smaller, more secondary assets on the rise amid the recent scarcity of large warehouse space New Supply 3.0 million sq. ft. Under Construction 8.7 million

More information

Leasing strength concentrated in new assets

Leasing strength concentrated in new assets MARKETVIEW Midtown Manhattan Office, Q4 216 Leasing strength concentrated in new assets Leasing Activity 4.25 MSF Net Absorption.62 MSF Availability Rate 11.8% Vacancy Rate 7.9% Average Asking Rent $8.18

More information

Greater Toronto Area, ON

Greater Toronto Area, ON Greater Toronto Area, ON Office Q4 217 1, 8 6 4 2 Economic Indicators Market Indicators (Overall, All Classes) Overall Net /Overall Asking Rent 4Q TRAILING AVERAGE -2-4 GREATER TORONTO AREA OFFICE Overall

More information

TAMI-sector resurgence drives improved quarterly leasing

TAMI-sector resurgence drives improved quarterly leasing Midtown South Manhattan Office, Q3 217 TAMI-sector resurgence drives improved quarterly leasing Leasing Activity 1.14 MSF Net Absorption.9 MSF Availability Rate 1.8% Vacancy Rate 6.9% Average Asking Rent

More information

First Quarter 2017 / Industrial Market Report. Market Overview

First Quarter 2017 / Industrial Market Report. Market Overview Greater Toronto Area Market Facts 3.4% Availability rate in the Greater Toronto Area vs vacancy rate of 2.2% $6.53 PSF Average asking net rent in the Greater Toronto Area 18 Number of properties in the

More information

Greater Toronto Area, ON

Greater Toronto Area, ON Greater Toronto Area, ON GREATER TORONTO AREA OFFICE Economic Indicators Q3 17 Q3 18 GTA Employment 3.3 mil 3.3 mil GTA Unemployment 6.1% 6.1% Canada Unemployment 6.2% 5.9% Source: Statistics Canada Market

More information

Leasing focused on new construction; renewals up

Leasing focused on new construction; renewals up MARKETVIEW Midtown Manhattan Office, Q3 216 Leasing focused on new construction; renewals up Leasing Activity 3.96 MSF Net Absorption (.86) MSF Availability Rate 12.1 Vacancy Rate 7.9 Average Asking Rent

More information

Sacramento Office MarketView Q3 2014

Sacramento Office MarketView Q3 2014 Sacramento Office MarketView Q3 2014 CBRE Global Research and Consulting UNEMPLOYMENT RATE 7.0% VACANCY RATE 19.4% NET ABSORPTION 123,907 sq. ft. AVG ASKING LEASE RATE $1.69 per sq. ft. FSG COMPLETED CONSTRUCTION

More information

Third Quarter 2017 / Industrial Market Report. Market Overview

Third Quarter 2017 / Industrial Market Report. Market Overview Greater Toronto Area Market Facts 2.7% Availability rate in the Greater Toronto Area $6.63 psf Average asking net rent in the Greater Toronto Area 18 Number of properties in the Greater Toronto Area with

More information

Healthcare, Life Sciences and Technology Sectors Drive Q Leasing Activity

Healthcare, Life Sciences and Technology Sectors Drive Q Leasing Activity MARKETVIEW Boston Suburban Office, Q4 2015 Healthcare, Life Sciences and Technology Sectors Drive Q4 2015 Leasing Activity Vacancy 17.3% Availability 19.9% Absorption 87,036 SF Sublease 2.5 MSF Under Construction

More information

Greater Toronto Area Industrial Market Report

Greater Toronto Area Industrial Market Report 3 RD QUARTER 15 Greater Toronto Area Industrial Report Partnership. Performance. Overview With the end of the third quarter, 15 is shaping up to be an incredible year for the Greater Toronto Area (GTA)

More information

Greater Boston Industrial Finishes 2015 with a Bang

Greater Boston Industrial Finishes 2015 with a Bang MARKETVIEW Boston Suburban Industrial, Q4 2015 Greater Boston Industrial Finishes 2015 with a Bang Vacancy 9.8% Availability 13.4% Occupied Sq. Ft. 128.7 MSF Sublease 0.9 MSF Figure 1: Industrial Vacancy

More information

Greater Toronto Area Industrial Market Report

Greater Toronto Area Industrial Market Report 1 ST QUARTER 16 Greater Toronto Area Industrial Report Partnership. Performance. Overview The record-setting momentum felt through 15 in the Greater Toronto Area (GTA) industrial market showed signs of

More information

Americas Office Trends Report

Americas Office Trends Report AMERICAS OFFICE TRENDS REPORT Americas Office Trends Report Summary The overall national office market recovery slowed slightly in the first quarter of 2016 amid financial market volatility. However, as

More information

Softening demand and new supply lifts vacancy

Softening demand and new supply lifts vacancy Q1 2009 Q2 2009 Q3 2009 Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q2 2011 Q3 2011 Q4 2011 Q2 2012 Q3 2012 Q4 2012 Q2 2013 Q3 2013 Q4 2013 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Calgary Office, Q1 2015 Softening

More information

Economic growth driving tighter market conditions

Economic growth driving tighter market conditions Metro Philadelphia Industrial, 217 Economic growth driving tighter market conditions Net Absorption 1.8 Million sq. ft. Vacancy Rate 5.4% Asking Lease Rate (NNN) $4.35 Development 2.2 Million sq. ft. Figure

More information

Americas Office Trends Report

Americas Office Trends Report Americas Office Trends Report Summary The overall U.S. office market picked up the pace in the second quarter of 2016 despite continued global economic and financial market uncertainty. While the Brexit

More information

Stronger Office Market Looking Into Future

Stronger Office Market Looking Into Future Research & Forecast Report Long Island OFFICE MARKET Q2 2015 Stronger Office Market Looking Into Future Rose Liu Research & Financial Analyst Long Island Takeaways Class A & B Long Island economic and

More information

Boston Office MarketView

Boston Office MarketView Boston Office MarketView CBRE Global Research and Consulting U.S. UNEMPLOYMENT 6.7% MA UNEMPLOYMENT 6.3% OCCUPIED SQ. FT. 70.0M AVAILABILITY 15.9% SUBLEASE SQ. FT. 1.1% UNDER CONSTRUCTION 1.8M FIRMS CHOOSE

More information

Pharma leasing boosts market, net absorption soars

Pharma leasing boosts market, net absorption soars MARKETVIEW New Jersey Office, Q3 218 Pharma leasing boosts market, net absorption soars Leasing Activity 1.77 MSF Net Absorption Availability Rate 997,93 SF Average Asking Lease Rate 2.5% $26.34 PSF *Arrows

More information

Another solid quarter for the industrial market as its reputation grows

Another solid quarter for the industrial market as its reputation grows MARKETVIEW Boston Industrial, Q1 2017 Another solid quarter for the industrial market as its reputation grows Vacancy 7.7% Availability 10.7% Occupied Sq. Ft. 148.5 MSF Under Construction 300K SF * Arrows

More information

Boston starts the year slowly, but has plenty in store

Boston starts the year slowly, but has plenty in store Boston Downtown Office, Q1 2017 Boston starts the year slowly, but has plenty in store Vacancy 8.6% Availability 13.9% Quarterly Absorption (67,890) SF Sublease 1.3% Under Construction 1.8 MSF Figure 1:

More information

Speculative construction and record breaking investment sales lead the way in Q2 2015

Speculative construction and record breaking investment sales lead the way in Q2 2015 MARKETVIEW Boston Downtown Office, Q2 2015 Speculative construction and record breaking investment sales lead the way in Q2 2015 Vacancy 7.5% Availability 13.9% Absorption 424,525 SF Sublease 0.75% Under

More information

Homestretch: Office Market Set to Finish Strong

Homestretch: Office Market Set to Finish Strong Research & Forecast Report RENO OFFICE Q3 2016 Homestretch: Office Market Set to Finish Strong >> Vacancy drops significantly the largest drop quarter over quarter in 2016 >> Rental rates are not increasing

More information

Suburban Boston Office MarketView

Suburban Boston Office MarketView Suburban Boston Office MarketView CBRE Global Research and Consulting U.S. UNEMPLOYMENT 6.7% MA UNEMPLOYMENT 7.1% OCCUPIED SF 92.9M AVAILABILITY 20.3% SUBLEASE SF 2.6M UNDER CONSTRUCTION 1.6M *Arrows indicate

More information

Summary. Houston. Dallas. The Take Away

Summary. Houston. Dallas. The Take Away Page Summary The Take Away The first quarter of 2017 was marked by continued optimism through multiple Texas metros as job growth remained positive and any negatives associated with declining oil prices

More information

>> 2016 Off to A Good Start for Tri-Cities

>> 2016 Off to A Good Start for Tri-Cities Research & Forecast Report TRI-CITIES OFFICE Q1 216 Accelerating success. >> 216 Off to A Good Start for Tri-Cities Key Takeaways > The Tri-Cities office market saw vacancy decline for the seventh consecutive

More information

First Quarter 2018 / Industrial Market Report. Market Overview

First Quarter 2018 / Industrial Market Report. Market Overview Greater Toronto Area Market Facts 2.5% Availability rate in the Greater Toronto Area $7.04 psf Average asking net rent in the Greater Toronto Area 19 Number of properties in the Greater Toronto Area with

More information

MARKET REPORT. Manhattan Office Sector Continues Recovery as Downtown Breaks Record MANHATTAN SNAPSHOT 4.2% 0.8PP 1.98MM SF MANHATTAN OFFICE

MARKET REPORT. Manhattan Office Sector Continues Recovery as Downtown Breaks Record MANHATTAN SNAPSHOT 4.2% 0.8PP 1.98MM SF MANHATTAN OFFICE 3Q 2014 OFFICE MANHATTAN OFFICE MARKET REPORT MANHATTAN Leasing ACTIVITY Availability RATE ABSORPTION 4.2% 0.8PP Asking RENTS 2.3% Note: Compared to 2Q 2014 Statistics 1.98MM SF Manhattan Office Sector

More information

LONG-TERM CONFIDENCE TRUMPS SLOWER DEMAND AS COMMERCIAL REAL ESTATE CONSTRUCTION RAMPS UP

LONG-TERM CONFIDENCE TRUMPS SLOWER DEMAND AS COMMERCIAL REAL ESTATE CONSTRUCTION RAMPS UP For Immediate Release LONG-TERM CONFIDENCE TRUMPS SLOWER DEMAND AS COMMERCIAL REAL ESTATE CONSTRUCTION RAMPS UP First quarter office and industrial leasing activity slows while construction activity rises

More information

Office Market Continues to Improve

Office Market Continues to Improve Research & Forecast Report LAS VEGAS OFFICE Q3 2016 Office Market Continues to Improve > > Southern Nevada s office market is improving at a steady rate > > Net absorption has been positive in twelve of

More information

Greater Philadelphia Office, Q Region experiences strong year-over-year rent growth

Greater Philadelphia Office, Q Region experiences strong year-over-year rent growth Greater Office, Q3 216 Region experiences strong year-over-year rent growth Net Absorption 2,14 sq. ft. Vacancy Rate 15.7 % Asking (FS) $25.38 Development 2.18 Million sq. ft. Figure 1: Greater Office

More information

CBRE Houston ViewPoint

CBRE Houston ViewPoint CBRE Houston ViewPoint DOWNTOWN HOUSTON: THE NEW GATEWAY MARKET? by Sara R. Rutledge Director, Research and Analysis INTRODUCTION Investor interest from both domestic and foreign sources has revived in

More information

Direct Vacant (SF) Vacancy Rate (%) Grand Total ,816,898 4,632,760 4,123, % 245,399 66,997 66,997

Direct Vacant (SF) Vacancy Rate (%) Grand Total ,816,898 4,632,760 4,123, % 245,399 66,997 66,997 1st Quarter 213 $25 Market Highlights With the impending move of Pinnacle leaving the market next quarter, the Memphis Office market was able to start the year on a positive note, posting nearly 67, SF

More information

Strong year continues with high-profile leasing; rents remain flat as new and returning space looms 10.0% 5.0%

Strong year continues with high-profile leasing; rents remain flat as new and returning space looms 10.0% 5.0% $ PSF Office May 2017 New York Monthly Market Update Strong year continues with high-profile leasing; rents remain flat as new and returning space looms Manhattan Class A asking rents Manhattan Class A

More information

The Improvement of the Industrial Market

The Improvement of the Industrial Market Research & Forecast Report Long Island industrial MARKET Q2 2015 The Improvement of the Industrial Market Rose Liu Research & Financial Analyst Long Island Takeaways The overall economy on Long Island

More information

KEY TOWER SALE highlights start of 2017

KEY TOWER SALE highlights start of 2017 KEY TOWER SALE highlights start of 2017 Demand for office space in the Greater Cleveland office market remained strong as 2016 wound down and transitioned into the first quarter of 2017. After netting

More information

Las Vegas Valley Executive Summary

Las Vegas Valley Executive Summary ARROYO MARKET SQUARE Las Vegas Valley Executive Summary Retail Market 4th Quarter 2013 THE DISTRICT AT GREEN VALLEY RANCH January 23, 2014 Re: Commercial Real Estate Survey: 4th Quarter, 2013 Dear Reader,

More information

Hong Kong Office MarketView

Hong Kong Office MarketView Core Fringe Core Midtown Decentralised Core Fringe Core Kowloon East Decentralised Hong Kong Office MarketView Q2 2013 Global Research and Consulting OVERALL HONG KONG Rents +0.3% q-o-q CENTRAL Rents -0.2%

More information

Vacancy Inches Higher, Despite Continued Absorption

Vacancy Inches Higher, Despite Continued Absorption Research & Forecast Report GREATER PHOENIX OFFICE 1Q 2017 Vacancy Inches Higher, Despite Continued Absorption Key Takeaways > > Improving conditions in the Greater Phoenix office market took a pause in

More information

Chicago s industrial market thrives during the third quarter.

Chicago s industrial market thrives during the third quarter. CHICAGO INDUSTRIAL MARKET MONITOR THIRD QUARTER 2015 Chicago s industrial market thrives during the third quarter. Demand across the Chicago industrial market remains high sending absorption up and vacancy

More information

Cambridge Office & Lab market at tightest levels since early 2000 s.

Cambridge Office & Lab market at tightest levels since early 2000 s. MARKETVIEW Cambridge Office/Lab, Q2 2015 Cambridge Office & Lab market at tightest levels since early 2000 s. Office Availability 8.4% Lab Availability 9.6% Occupied Sq. Ft. 22.1 MSF Under Construction

More information

How Does the City Grow?

How Does the City Grow? This bulletin summarizes information from the City of Toronto s Land Use Information System II, providing an overview of the development projects received by the City Planning Division between January

More information

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

INDUSTRIAL QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS PHOENIX, ARIZONA INDUSTRIAL THIRD QUARTER 217 QUICK STATS Direct Vacancy 8.7% Overall Vacancy 9.% Lease Rate NNN $.54 Gross Absorption Under Construction MARKET TRENDS Current Quarter 5,991,128 SF 4,751,494

More information

FOURTH QUARTER 2013 LEASING ACTIVITY CONTINUES TO BE BETTER THAN EXPECTED MARYLAND OFFICE MARKET REPORT MARKET SUMMARY ABSORPTION

FOURTH QUARTER 2013 LEASING ACTIVITY CONTINUES TO BE BETTER THAN EXPECTED MARYLAND OFFICE MARKET REPORT MARKET SUMMARY ABSORPTION Q4 2013 MARYLAND OFFICE MARYLAND OFFICE MARKET REPORT FOURTH QUARTER 2013 LEASING ACTIVITY CONTINUES TO BE BETTER THAN EXPECTED MARKET SUMMARY Updated April 2013 MARKET INDICATORS Q4 2013 Q1 2014* VACANCY

More information

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS INLAND EMPIRE OFFICE THIRD QUARTER 217 QUICK STATS Direct Vacancy 11.4% Overall Vacancy 11.7% Lease Rate FSG $1.83 Gross Absorption Under Construction MARKET TRENDS Current Quarter 529,634 SF 45,24 SF

More information

Q B O S T O N M A R K E T R E P O R T

Q B O S T O N M A R K E T R E P O R T Q 3 2 1 7 B O S T O N M A R K E T R E P O R T Introducing the Compass Q3 217 Greater Boston Market Report Page 2 Page 3 Page 5 Page 7 Page 8 Map of Coverage Area Single Family Overview Condo Overview Time

More information

Cambridge Office/Lab MarketView

Cambridge Office/Lab MarketView Cambridge Office/Lab MarketView CBRE Global Research and Consulting U.S. UNEMPLOYMENT 6.7% MA UNEMPLOYMENT 6.3% OCCUPIED SQ. FT. 19.4M OFFICE AVAIL. 10.0% LAB AVAIL. 18.4% UNDER CONSTRUCTION 1.8MSF *Arrows

More information

Has The Office Market Reached A Peak? Vacancy. Rental Rate. Net Absorption. Construction. *Projected $3.65 $3.50 $3.35 $3.20 $3.05 $2.90 $2.

Has The Office Market Reached A Peak? Vacancy. Rental Rate. Net Absorption. Construction. *Projected $3.65 $3.50 $3.35 $3.20 $3.05 $2.90 $2. Research & Forecast Report OAKLAND METROPOLITAN AREA OFFICE Q1 Has The Office Market Reached A Peak? > > Vacancy remained low at 5. > > Net Absorption was positive 8,399 in the first quarter > > Gross

More information

Indianapolis MARKETBEAT. Office Q Economy. Market Overview INDIANAPOLIS OFFICE

Indianapolis MARKETBEAT. Office Q Economy. Market Overview INDIANAPOLIS OFFICE INDIANAPOLIS OFFICE Economic Indicators Market Indicators (Direct, All Classes) Direct Net Absorption/Direct Asking Rent 4-QTR TRAILING AVERAGE Direct Vacancy Q3 17 Q3 18 MSA Employment 1.05M 1.07M MSA

More information

Indianapolis MARKETBEAT. Office Q Economy. Market Overview INDIANAPOLIS OFFICE

Indianapolis MARKETBEAT. Office Q Economy. Market Overview INDIANAPOLIS OFFICE INDIANAPOLIS OFFICE Economic Indicators Q2 17 Q2 18 MSA Employment 1.1M 1.1M MSA Unemployment 3.3% 3.0% U.S. Unemployment 4.3% 3. Market Indicators (Direct, All Classes) Q2 17 Q2 18 Total Market Vacancy

More information

MAR KET GLANCE SAN DIEGO OFFICE MARKET REPORT PROPERTY SERVICES DEVELOPMENT INVESTMENT FOURTH QUARTER 2015 PROPERTY SERVICES DEVELOPMENT INVESTMENT

MAR KET GLANCE SAN DIEGO OFFICE MARKET REPORT PROPERTY SERVICES DEVELOPMENT INVESTMENT FOURTH QUARTER 2015 PROPERTY SERVICES DEVELOPMENT INVESTMENT AT A SAN DIEGO OFFICE MARKET REPORT FOURTH QUARTER 215 AT A NEW SUPPLY PUSHES VACANCY RATES HIGHER San Diego s regional economy has been buzzing and added a net total of 37,8 jobs in the 12 months ending

More information

CHICAGO CBD OFFICE INVESTMENT PROPERTIES GROUP

CHICAGO CBD OFFICE INVESTMENT PROPERTIES GROUP CHICAGO CBD OFFICE INVESTMENT PROPERTIES GROUP SECOND QUARTER NEWSLETTER 216 HOT TOPICS Capital markets remain a focus with 14 assets either under contract or sold totaling $2.6 billion, which includes

More information

DISTRICT OF COLUMBIA IN THIS ISSUE OFFICE Q RESEARCH MARKET REPORT. State of the Economy. Leasing Activity. Development Pipeline.

DISTRICT OF COLUMBIA IN THIS ISSUE OFFICE Q RESEARCH MARKET REPORT. State of the Economy. Leasing Activity. Development Pipeline. RESEARCH MARKET REPORT DISTRICT OF COLUMBIA OFFICE IN THIS ISSUE State of the Economy p.2 Leasing Activity p.3 Development Pipeline p.4 Market Outlook p.5 Market Breakdown p.6 DC Development: No Signs

More information

Suburban Boston Industrial MarketView

Suburban Boston Industrial MarketView Suburban Boston Industrial MarketView CBRE Global Research and Consulting U.S. UNEMPLOYMENT 7.6% MA UNEMPLOYMENT 7.0% OCCUPIED SF 122.5M AVAILABILITY 19.7% SUBLEASE SF 2.6M UNDER CONSTRUCTION 170K *Arrows

More information

Hong Kong Office MarketView

Hong Kong Office MarketView Hong Kong Office MarketView Q3 2013 Global Research and Consulting OVERALL HONG KONG Rents -0.3% q-o-q CENTRAL Rents -0.2% q-o-q HONG KONG ISLAND Rents -0.3% q-o-q KOWLOON Rents -0.4% q-o-q SOFTER DEMAND

More information

Second Quarter: Suburban Maryland s Uptick in Leasing has yet to be Realized in Absorption Numbers

Second Quarter: Suburban Maryland s Uptick in Leasing has yet to be Realized in Absorption Numbers Q2 2013 OFFICE SUBURBAN MARYLAND SUBURBAN MARYLAND MARKET REPORT Second Quarter: Suburban Maryland s Uptick in has yet to be Realized in Numbers Updated May 2012 MARKET INDICATIONS Q2 2013 Q3 2013 (p)

More information

National Presence. Local Focus

National Presence. Local Focus Metropolitan DC Market Overview 4Q 214 Overall Market Summary The Washington, DC Metropolitan commercial real estate market is comprised of approximately 41.9 million square feet of rentable office space

More information

+48.6 million sf office inventory

+48.6 million sf office inventory Research Market Report METROPOLITAN MILWAUKEE OFFICE 2018 Quarter 1 Research Wisconsin Introduction Following a strong second half of 2017, 2018 had a slow start. Despite an increase in vacancy and negative

More information

ECONOMIC CURRENTS. Vol. 5 Issue 2 SOUTH FLORIDA ECONOMIC QUARTERLY. Key Findings, 2 nd Quarter, 2015

ECONOMIC CURRENTS. Vol. 5 Issue 2 SOUTH FLORIDA ECONOMIC QUARTERLY. Key Findings, 2 nd Quarter, 2015 ECONOMIC CURRENTS THE Introduction SOUTH FLORIDA ECONOMIC QUARTERLY Economic Currents provides an overview of the South Florida regional economy. The report presents current employment, economic and real

More information

COMMERCIAL REAL ESTATE MARKET NEGOTIATING GLOBAL HEADWINDS

COMMERCIAL REAL ESTATE MARKET NEGOTIATING GLOBAL HEADWINDS For Immediate Release COMMERCIAL REAL ESTATE MARKET NEGOTIATING GLOBAL HEADWINDS Office and industrial leasing activity slows in the second quarter, while construction activity picks up. TORONTO, ON June

More information

Monthly Market Update

Monthly Market Update Monthly Market Update December 2015 New York City Office Outlook February 2016 M A N H A T T A N Class A Asking Rents M A N H A T T A N Class A Vacancy Rates $100.00 Jan-14 Jan-15 Jan-16 20.0% Jan-14 Jan-15

More information

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS LOS ANGELES CENTAL/SOUTHEAST OFFICE THIRD QUARTER 218 QUICK STATS Direct Vacancy 14.7% Overall Vacancy 15.2% Lease Rate FSG $3.16 Gross Absorption Under Construction MARKET TRENDS Change from Last Quarter

More information

Monthly Market Snapshot

Monthly Market Snapshot SEPTEMBER 2018 Vacancy continues to fall. Nearing the end of the third quarter, the vacancy rate dropped 10 basis points to 6.4%, compared to this time last month at 6.5%. Occupancy of the 1.1 million

More information

Everything Old is New Again

Everything Old is New Again MARKET REPORT OFFICE Second Quarter 2016 Everything Old is New Again Market Indicators Q2 2016 2017 (Projected) While the global economy remains on its Jekyll and Hyde path, the District s commercial real

More information

VACANCY COMPLETIONS RENTAL RATE. *Projected $1.70. Vacancy Rate 14.9% 14.4% $1.60 $1.50 $1.40 $1.30 $1.20

VACANCY COMPLETIONS RENTAL RATE. *Projected $1.70. Vacancy Rate 14.9% 14.4% $1.60 $1.50 $1.40 $1.30 $1.20 Research & Forecast Report RENO OFFICE Q4 A Good Year Overall > Building sale prices are significantly higher than. > Seven buildings over 40,000 sf sold in, more than in previous years. > Many large office

More information

Leasing activity remains strong through February; Downtown off to best start in years 10.0% 5.0%

Leasing activity remains strong through February; Downtown off to best start in years 10.0% 5.0% Office March 2017 New York Monthly Market Update Leasing activity remains strong through February; Downtown off to best start in years Manhattan Class A Asking Rents Manhattan Class A Vacancy Rents $100.00

More information

Construction investment cools down but markets remain heated

Construction investment cools down but markets remain heated Phnom Penh, 217 Construction investment cools down but markets remain heated Average High-end Condominium Price $3,18/SQM Prime Condominium Rent $15.6/SQM Prime Office Rent $22.2/SQM Prime Retail Mall

More information

Market Research. Market Indicators

Market Research. Market Indicators colliers international LAS VEGAS, NV Market Research OFFICE Third Quarter 2009 Market Indicators Net Absorption Construction Rental Rate Q3-09 Q4-2009 Projected Clark County Economic Data Jul-09 Jul-08

More information

MARKET WATCH SOUTHERN CALIFORNIA & PHOENIX

MARKET WATCH SOUTHERN CALIFORNIA & PHOENIX SOUTHERN CALIFORNIA & PHOENIX COMMERCIAL REAL ESTATE MARKET FOURTH QUARTER 217 MARKET WATCH SOUTHERN CALIFORNIA & PHOENIX 1.888.659.DAUM WWW.DAUMCOMMERCIAL.COM D/AQ Corp. # 1129558 DAUM TABLE OF CONTENTS

More information

Miami-Dade County Retail Market Report 3Q Real Capital Partners Real Estate Services. *Data Source CoStar Miami-Dade County Retail Market Report

Miami-Dade County Retail Market Report 3Q Real Capital Partners Real Estate Services. *Data Source CoStar Miami-Dade County Retail Market Report Miami-Dade County Retail Market Report 3Q 216 Real Capital Partners Real Estate Services *Data Source CoStar Miami-Dade County Retail Market Report 3Q 216 Miami-Dade County Retail Market Report Overview

More information

Metropolitan Milwaukee Office Market Report Third Quarter 2015

Metropolitan Milwaukee Office Market Report Third Quarter 2015 Metropolitan Milwaukee Office Market Report Third Quarter 2015 RETAIL OFFICE INDUSTRIAL LAND INVESTMENT NAI MLG COMMERCIAL 414 347 9400 757 N BROADWAY, SUITE 700, MILWAUKEE, WI 53202 MLGCOMMERCIAL.COM

More information

Office Market Remained Steady in Q4

Office Market Remained Steady in Q4 Research & Forecast Report Long Island OFFICE MARKET Q4 2015 Office Market Remained Steady in Q4 Rose Liu Research & Financial Analyst Long Island Takeaways Class A & B Continuing the momentum, the Long

More information

Chicago s industrial market thrives during the second quarter.

Chicago s industrial market thrives during the second quarter. Economic Overview CHICAGO INDUSTRIAL MARKET MONITOR SECOND QUARTER 2015 Chicago s industrial market thrives during the second quarter. Demand across the Chicago industrial market remains high sending absorption

More information

Market Research. Market Indicators

Market Research. Market Indicators colliers international LAS VEGAS, NV Market Research OFFICE Second Quarter 2009 Market Indicators Net Absorption Construction Rental Rate Q2-09 Q3-2009 Projected Clark County Economic Data UNEMPLOYMENT

More information

First Quarter 2017 Industrial Market Report. Chicago. Economic Overview

First Quarter 2017 Industrial Market Report. Chicago. Economic Overview Chicago Market Facts 5.3% Chicago s unemployment rate continued to trend downward. Recorded at 5.3% as of February 2017. 17 MSF The number of completed projects increased to 5.1 msf and projects currently

More information

OFFICE MARKET ANALYSIS

OFFICE MARKET ANALYSIS OFFICE MARKET ANALYSIS GEOFF FALKENBERG Oregon Association of Realtors Fellow The Urban Land Institute ranked Portland 11th in the nation among Markets to Watch for real estate investment in 2014. Jones

More information

City office rental values fall for second month in May

City office rental values fall for second month in May MARKETVIEW United Kingdom Monthly Index, May 217 City office rental values fall for second month in May All Property.9 All Offices 1. All Retail.8 All Industrials.9 *Arrows indicate the rate of change

More information

The Market Is Energized By Increased Development In Hollywood

The Market Is Energized By Increased Development In Hollywood OFFICE CENTRAL LOS ANGELES MARKET REPORT The Market Is Energized By Increased Development In Hollywood MARKET OVERVIEW MARKET INDICATORS - VACANCY 20.5% NET ABSORPTION 24,100 CONSTRUCTION 574,000 RENTAL

More information

SUBURBAN MARYLAND IN THIS ISSUE OFFICE Q RESEARCH MARKET REPORT. State of the Economy p.2. Leasing Activity p.3. Development Pipeline p.

SUBURBAN MARYLAND IN THIS ISSUE OFFICE Q RESEARCH MARKET REPORT. State of the Economy p.2. Leasing Activity p.3. Development Pipeline p. RESEARCH MARKET REPORT SUBURBAN MARYLAND OFFICE IN THIS ISSUE State of the Economy p.2 Leasing Activity p.3 Development Pipeline p.4 Market Outlook p.5 Market Breakdown p.6 Two Massive Deals Highlight

More information

Durham region has seen minimal construction activity when compared to the rest of the 905 area.

Durham region has seen minimal construction activity when compared to the rest of the 905 area. The four 95 regions making up the 95 area of the Greater Toronto Area (GTA) continued to monopolize the new industrial building market in 215, accounting for 98% of the 5.4 million sq. ft. of industrial

More information

Rents continue to decline while available space stabilizes

Rents continue to decline while available space stabilizes Manhattan Retail, Q3 2017 Rents continue to decline while available space stabilizes 119.8 *Arrows indicate change from previous quarter. 4.9% $34.5B 340.1K Sources: The Conference Board, September 2017;

More information

Office Stays Positive

Office Stays Positive Q2 2014 OFFICE LAS VEGAS NEVADA RESEARCH & FORECAST REPORT Office Stays Positive While it may not always be pretty, Southern Nevada s office market continues to improve. Net absorption increased in the

More information

HISTORICAL VACANCY VS RENTS. Downtown Los Angeles Office Market Q Q RENTS VACANCY $31 2Q10 2Q11 2Q12 2Q13 2Q14

HISTORICAL VACANCY VS RENTS. Downtown Los Angeles Office Market Q Q RENTS VACANCY $31 2Q10 2Q11 2Q12 2Q13 2Q14 www.colliers.com/losangeles OFFICE LOS ANGELES MARKET REPORT Rate Decrease Below 20% As Market Activity Remains Flat MARKET OVERVIEW MARKET INDICATORS - VACANCY 19.5% The Downtown Los Angeles market in

More information

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS LOS ANGELES SAN GABRIEL VALLEY OFFICE SECOND QUARTER 218 QUICK STATS Direct Vacancy 11.1% Overall Vacancy 11.4% Lease Rate FSG $2.32 Gross Absorption Under Construction MARKET TRENDS Current Quarter 345,68

More information

The Office Market Feels The Heat in Q2

The Office Market Feels The Heat in Q2 Research & Forecast Report RENO OFFICE Q2 2017 The Office Market Feels The Heat in Q2 >>All major office submarkets have decreased vacancy and positive absorption this quarter >>The overall vacancy decreased

More information

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS LOS ANGELES NORTH OFFICE FOURTH QUARTER 217 QUICK STATS Direct Vacancy 11.8% Overall Vacancy 12.5% Lease Rate FSG $2.75 Gross Absorption Under Construction MARKET TRENDS Current Quarter 1,6,941 SF 89,158

More information

Columbus MARKETBEAT. Office Q2 2017

Columbus MARKETBEAT. Office Q2 2017 COLUMBUS OFFICE Economic Indicators Market Indicators Q2 16 Q2 17 Unemployment 4.0% 3.9% Ohio Unemployment 5.0% 5.0% U.S. Unemployment 4.9% 4.4% Q2 16 Q2 17 Overall Vacancy 13.3% 13.4% 212K -80K Construction

More information

TRANSWESTERN OUTLOOK DC AT Q1O8

TRANSWESTERN OUTLOOK DC AT Q1O8 TRANSWESTERN OUTLOOK DC AT Q1O8 Even With Soft Office Absorption, Vacancy Remains Low; Rents Continue to Edge Up The District of Columbia s office market experienced steady conditions during the 1st quarter

More information

>> Orange County Vacancy Continues to Decline

>> Orange County Vacancy Continues to Decline Research & Forecast Report ORANGE COUNTY OFFICE Accelerating success. >> Orange County Continues to Decline Key Takeaways > The South County submarket led the Orange County market in overall net absorption

More information

Legal Industry: Bigger No Longer Better

Legal Industry: Bigger No Longer Better MARKET REPORT DISTRICT OF COLUMBIA OFFICE First Quarter 2017 Legal Industry: Bigger No Longer Better After a strong end to 2016, leasing activity in the beginning of 2017 started with a whimper. Just two

More information

TORONTO DOWNTOWN MARKET SURVEY

TORONTO DOWNTOWN MARKET SURVEY TORONTO DOWNTOWN MARKET SURVEY Existing and Future Office Availabilities 2017-2022 Contiguous Blocks Of Space > 40,000 Sq. Ft. March 2, 2018 Prepared For: Prepared By: James Butchard Vice President Advisory

More information

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS

OFFICE QUICK STATS SUMMARY & OUTLOOK MARKET TRENDS VACANCY & NET ABSORPTION ECONOMIC STATS ORANGE COUNTY OFFICE THIRD QUARTER 217 QUICK STATS Direct Vacancy 12.1% Overall Vacancy 12.9% Lease Rate FSG $2.61 Gross Absorption Under Construction MARKET TRENDS Current Quarter 2,479,293 SF 379, SF

More information

OFFICE MARKET ANALYSIS

OFFICE MARKET ANALYSIS OFFICE MARKET ANALYSIS A. SYNKAI HARRISON Portland State University Nationally the office sector experienced its best performance in years according to the National Real Estate Investor as employment in

More information

Caution: Vacancy Increases Ahead

Caution: Vacancy Increases Ahead MARKET REPORT DISTRICT OF COLUMBIA OFFICE Fourth Quarter 2016 Caution: Vacancy Increases Ahead Market Indicators Q4 2016 2017 (Projected) NET Despite year-to-date negative absorption, the Washington, DC

More information

Welcome to the Fall 2018 Breakfast Seminar

Welcome to the Fall 2018 Breakfast Seminar Welcome to the Fall 2018 Breakfast Seminar Richmond Hill Country Club June 7, 2017 Presented by: MCAP Development Finance Group AGENDA GTA Condo Market Outlook Presented by: Shaun Hildebrand, President,

More information

OFFICE MARKET ANALYSIS

OFFICE MARKET ANALYSIS OFFICE MARKET ANALYSIS KYLE BROWN RMLS Fellow, Master of Real Estate Development Candidate Amid some encouraging signs nationally, the Portland office market has maintained its stability, with the CBD

More information