The document provides an overview and forecast of the office market in the Greater Toronto Area (GTA) in the third quarter of 2010. It finds that the GTA office market has stabilized over the past year with a vacancy rate of around 10.5% and average asking rents of $16.25-$16.35 per square foot. The forecast predicts vacancy rates will rise slightly by the end of 2010 before declining to around 6.1% by the third quarter of 2011, while average asking rents are projected to steadily increase to $16.38 per square foot.
-U.S. Office Market Was Driven by the Tech
Sector in the Fourth Quarter of 2018
-Absorption exceeds construction completions, vacancy
declines and the pipeline grows
-Tech markets tighten
-Rents rise, but the pace slows:
C&W Marketbeat - Canadian Industrial Report- Q2-2014 Guy Masse
This document provides a summary of industrial real estate market conditions across Canada in the second quarter of 2014. Key points include:
- The Alberta economy continued to outpace other regions, driven by growth in the oil and gas industry. This fueled record industrial real estate absorption in Calgary.
- Central Canadian markets struggled due to slow economic growth, though momentum was starting to improve in the second quarter.
- Strengthening US economic conditions are expected to increase demand for Canadian goods and services, benefiting industrial markets going forward.
Avison commercial office leasing market report toronto 2014Chris Fyvie
office space toronto, toronto office space, office search toronto, office space in toronto, office rentals toronto, commercial office space, commercial real estate toronto, office rent toronto, toronto offices for lease
The U.S. industrial market experienced strong net absorption in Q3 2018, with overall vacancy remaining at historic lows despite increased construction. Demand was broad-based across regions and product types, with the South and West leading in absorption. Rents continued rising above 5% annually in over half of markets as demand outstripped supply in a tight market. The development pipeline expanded but speculative construction remains concentrated in top markets, indicating limited overbuilding risk through 2019.
The document summarizes trends in foreign capital flows into U.S. commercial real estate. Low global interest rates are driving foreign investors to seek higher yields in the U.S. market. Foreign capital flows into U.S. commercial real estate more than doubled in 2015, with particularly strong growth from Asia. Continued foreign demand is expected to support price appreciation in the near term. Recent legal changes also provide more opportunities for foreign investment. Overall conditions are favorable for continued foreign capital flows, but abundant capital could threaten long-term asset value stability.
Commercial Real Estate Market Overview - 2016Q1Felicia Gan
The document summarizes trends in foreign capital flows into U.S. commercial real estate in 2015-2016. Key points include:
- Foreign capital flows into U.S. commercial real estate more than doubled in 2015, particularly from Asia. This was driven by low global interest rates, global economic uncertainties, and regulatory changes.
- Continued foreign capital inflows are expected in the near-term due to these demand drivers, but downward pressure on asset values could occur if flows decrease or reverse.
- Commercial real estate sectors like apartment, industrial, and office saw improving fundamentals like declining vacancy rates and rising rents and prices in 2015-2016, attracting continued foreign and domestic investment. However, the abundance of
Retail Lives
Economic fundamentals continue to strengthen in the
U.S., a trend that is expected to endure through
mid-2019. With continued wage growth acceleration
and consumer confidence near an 18-year high, the
retail marketplace has registered solid spending.
Inflation-adjusted consumer expenditures show a
steady 2.5-3% year-over-year (YOY) growth pattern
since the beginning of 2016. eCommerce sales
accounted for approximately 11.5% of retail sales
(excluding auto sales) in 2017. While we expect that
penetration rate to climb to 14.0% by 2019, physical
stores remain vital to retailer survival in this evolving
retail climate. Despite what the media would lead you
to believe, the overall retail industry is still posting
gains even while it faces secular challenges.
-U.S. Office Market Was Driven by the Tech
Sector in the Fourth Quarter of 2018
-Absorption exceeds construction completions, vacancy
declines and the pipeline grows
-Tech markets tighten
-Rents rise, but the pace slows:
C&W Marketbeat - Canadian Industrial Report- Q2-2014 Guy Masse
This document provides a summary of industrial real estate market conditions across Canada in the second quarter of 2014. Key points include:
- The Alberta economy continued to outpace other regions, driven by growth in the oil and gas industry. This fueled record industrial real estate absorption in Calgary.
- Central Canadian markets struggled due to slow economic growth, though momentum was starting to improve in the second quarter.
- Strengthening US economic conditions are expected to increase demand for Canadian goods and services, benefiting industrial markets going forward.
Avison commercial office leasing market report toronto 2014Chris Fyvie
office space toronto, toronto office space, office search toronto, office space in toronto, office rentals toronto, commercial office space, commercial real estate toronto, office rent toronto, toronto offices for lease
The U.S. industrial market experienced strong net absorption in Q3 2018, with overall vacancy remaining at historic lows despite increased construction. Demand was broad-based across regions and product types, with the South and West leading in absorption. Rents continued rising above 5% annually in over half of markets as demand outstripped supply in a tight market. The development pipeline expanded but speculative construction remains concentrated in top markets, indicating limited overbuilding risk through 2019.
The document summarizes trends in foreign capital flows into U.S. commercial real estate. Low global interest rates are driving foreign investors to seek higher yields in the U.S. market. Foreign capital flows into U.S. commercial real estate more than doubled in 2015, with particularly strong growth from Asia. Continued foreign demand is expected to support price appreciation in the near term. Recent legal changes also provide more opportunities for foreign investment. Overall conditions are favorable for continued foreign capital flows, but abundant capital could threaten long-term asset value stability.
Commercial Real Estate Market Overview - 2016Q1Felicia Gan
The document summarizes trends in foreign capital flows into U.S. commercial real estate in 2015-2016. Key points include:
- Foreign capital flows into U.S. commercial real estate more than doubled in 2015, particularly from Asia. This was driven by low global interest rates, global economic uncertainties, and regulatory changes.
- Continued foreign capital inflows are expected in the near-term due to these demand drivers, but downward pressure on asset values could occur if flows decrease or reverse.
- Commercial real estate sectors like apartment, industrial, and office saw improving fundamentals like declining vacancy rates and rising rents and prices in 2015-2016, attracting continued foreign and domestic investment. However, the abundance of
Retail Lives
Economic fundamentals continue to strengthen in the
U.S., a trend that is expected to endure through
mid-2019. With continued wage growth acceleration
and consumer confidence near an 18-year high, the
retail marketplace has registered solid spending.
Inflation-adjusted consumer expenditures show a
steady 2.5-3% year-over-year (YOY) growth pattern
since the beginning of 2016. eCommerce sales
accounted for approximately 11.5% of retail sales
(excluding auto sales) in 2017. While we expect that
penetration rate to climb to 14.0% by 2019, physical
stores remain vital to retailer survival in this evolving
retail climate. Despite what the media would lead you
to believe, the overall retail industry is still posting
gains even while it faces secular challenges.
The document provides an overview of Lee & Associates, a commercial real estate services firm with over 870 agents and $12 billion in annual transaction volume. It then summarizes national industrial market trends in the second quarter of 2016, including steady vacancy declines, strong net absorption, and rising rental rates. Finally, it offers a outlook for continued positive industrial market conditions in the short term, followed by a potential slowing of growth in 2017 due to global economic uncertainties.
The overall outlook for 2017 Canadian M&A activity remains moderately positive, despite the decrease in the number of Canadian companies sold in 2016. Corporate balance sheets are flush with cash, with corporations actively looking for quality investments. Interest rates remain low, and oil prices are showing signs of improvement. Private Equity firms also have large cash holdings and often see Canadian firms as good "bolt-on" opportunities. Read the report for more detail on trends, public market performance and deal activity.
The document discusses commercial real estate lending trends in 2017. It provides an economic overview of 2016, noting that while global economies moderated, the US GDP maintained moderate growth. Consumer spending was the main driver of growth, while business investment declined. Employment gains were strongest in education, professional services, and leisure/hospitality. Lending conditions tightened for commercial real estate due to increased regulatory oversight.
Colliers Toronto office market report 2015 q3Chris Fyvie
This document provides a quarterly market report on the Greater Toronto Area office market. It finds that in Q3 2015, the overall vacancy rate declined slightly to 5.4% while availability decreased to 10%. Nearly 5 million square feet of new office space is under construction. Financial services is leading demand, focused in downtown, north and west GTA. The investment market saw a decrease in transactions from the previous quarter due to low supply of quality assets. The downtown submarket saw its vacancy rate decline slightly as well.
- The document provides an overview of global real estate investment trends in 2015 and an outlook for 2016.
- Global property investment volumes fell slightly for the first time in 6 years in 2015, down 2.4% to $1.29 trillion, driven by a pullback in Asia, notably for development land. Excluding land, volumes rose 8.2%.
- Going forward, the focus will be on core assets that provide value to occupants. Investors will seek platforms for local intelligence and pursue opportunities such as modern flexible office, retail, and logistics space in gateway cities.
Paine Wetzel/TCN 2016 Q4 State of the Market: Central EditionMarc Hale
TCN Worldwide is a consortium of 1,500+ commercial real estate professionals providing services in over 200 markets worldwide. It manages approximately $38.8 billion in transactions and 80 million square feet of space annually. The US economy grew at a moderate 2.3-2.4% in 2017-2018 according to forecasts, with some fiscal stimulus in the short run under the new administration. Commercial real estate transaction volumes declined in the central US region in 2016, with office down 20.6%, industrial down 45.4%, and retail down 9.7% compared to the previous year.
Capital Markets Insights: Credit Availability for the Middle Market Remains R...Duff & Phelps
Recent trimming in first lien debt appetite resulted in a higher proportion of second lien and junior debt in capital structures. The fuller covenant packages typical of the private market, combined with unabated growth in private investor capital formation, have served to differentiate middle market conditions from those of the broader liquid markets. While the weighted average cost of debt for middle market issuers has increased modestly, credit availability — both in terms of leverage multiples and cost — is robust.
2015 2Q North American Office Market ReportCoy Davidson
The U.S. office market saw improvements in Q2 2015, with vacancy rates declining and absorption improving. However, the Canadian office market weakened, with rising vacancy rates driven by falling oil prices. Overall North American vacancy fell slightly to 12.7%, with U.S. vacancy down to 13.0% and Canadian vacancy up to 9.1%. Absorption was positive in the U.S. at 23.1 million square feet but negative in Canada at -0.5 million square feet. The outlook remains positive for the U.S. office market but negative for Canada due to economic challenges from low oil prices.
The document provides an executive overview and market summary for commercial real estate in Boston for the fourth quarter of 2010. Some key points:
- The US unemployment rate declined to 9.4% in Q4 2010, though the rate remains elevated. Private sector employment grew by 113,000 jobs in December.
- In Greater Boston, the office market saw positive absorption in the suburbs but negative absorption downtown. Availability rates increased slightly to 20.4%.
- The Cambridge office market remained relatively healthy with positive absorption, while the lab market was flat. Availability rates declined in both sectors.
There were 773 Canadian companies sold during the first half of 2017, which remained relatively flat compared to the same period last year. Canadian transactions remained predominately within borders as 549 deals were acquired by a Canadian company in 1H 2017. The renegotiation of NAFTA and changes to the taxation of private corporations will likely effect Canadian M&A activity for the remainder of the year. Read the report for more detail on trends, public market performance and deal activity.
Karen Hanover - Commercial Real Estate - IRRKaren Wagner
Karen Hanover presents commercial real estate market analysis for 2017 by Integra Realty Resources. For more real estate investing tips and tricks, go to http://karenhanover.biz
JLL Louisville Industrial Outlook Q3 2017 Ross Bratcher
The Louisville industrial market remains strong, driven by large employers like UPS, Ford, and GE Appliances. While leasing activity has slowed slightly compared to unprecedented development, vacancy rates are projected to fall as available space is absorbed. Investment and development continue as investors are attracted to the steady fundamentals and market consistency of the Louisville area.
- M&A and capital markets activity increased in Q4 2020, with global M&A deal value reaching over $1 trillion for the full year despite economic challenges from the COVID-19 pandemic.
- Median middle market deal values and EV/EBITDA multiples remained steady between 2019 and 2020, while private equity buyout multiples reached new highs and add-on deals made up a record percentage of leveraged buyouts.
- Debt multiples and pricing were largely unchanged in Q4, while private equity fundraising saw its lowest annual total since 2015.
In this special edition of Valuation Insights, we discuss some of the key valuation and compliance impacts that will likely result from Brexit. Specifically, we review the short-term and long-term economic implications, as well as compliance and regulatory considerations. We also highlight valuation issues, including how companies and investors determine cost of capital and measure risk in the current environment, and discuss implications for transfer pricing with respect to EU Directives. While all industries will be impacted by Brexit, in this issue we focus on the banking and financial services sectors, which stand to be the most heavily affected.
The 2016 Faegre Baker Daniels M&A Conference Update, including a presentation and talking points by Bridgepoint Merchant Banking's Managing Principal Adam Claypool.
Commercial Real Estate Market Trends - 2017cutmytaxes
The document summarizes commercial real estate market trends for the first quarter of 2017 according to a survey by the National Association of REALTORS. Key points include:
- Sales volume declined 4.4% year-over-year while prices rose 7.2%, indicating a tight market.
- Inventory shortage remained the top challenge.
- Leasing volume rose 2.3% quarter-over-quarter while rates increased 3.8% and concessions fell 11.1%.
- Financing availability returned as a top concern.
Colliers toronto office leasing market report 2014Chris Fyvie
The document provides a market report on office space in the Greater Toronto Area for Fall 2013. Some key points:
- Vacancy rates continued to decline in the third quarter of 2013, reaching record lows of 5.8% in the GTA overall and 3.9% downtown.
- With significant new development planned, vacancy rates are expected to rise to near double digits by 2016-2017, providing an opportunity for tenants to renegotiate leases.
- Downtown Toronto demand remains strong with a slight decline in vacancy. The financial core submarket also saw steady demand.
- Midtown and GTA North markets also saw low vacancy rates and positive absorption in the third quarter. The GTA
Commercial Real Estate Outlook - November 2010NAR Research
The document summarizes commercial real estate market conditions in the third quarter of 2010. It finds that while GDP growth was moderate, unemployment remained high, contributing to uncertainty. Commercial real estate fundamentals are expected to modestly improve in 2011, with rents continuing to decline and vacancies remaining elevated. Multifamily performance has been more resilient and is expected to lead the recovery in 2011.
The document provides an overview and outlook of global real estate markets in 2009. It discusses how the global economic slowdown has negatively impacted commercial property markets worldwide, with rising vacancy rates and falling rents. It then summarizes real estate market conditions and outlooks for various regions including:
- The US, where vacancy rates are expected to rise and rents fall across major markets like New York City and Boston in 2009. The Washington DC retail sector is expected to perform well due to government spending.
- Europe, where prime property markets like London face declining demand and rents.
- Asia-Pacific, where the outlook is mixed with stronger performance in some Chinese cities compared to other markets like Japan.
- Middle East
The document provides an overview of Lee & Associates, a commercial real estate services firm with over 870 agents and $12 billion in annual transaction volume. It then summarizes national industrial market trends in the second quarter of 2016, including steady vacancy declines, strong net absorption, and rising rental rates. Finally, it offers a outlook for continued positive industrial market conditions in the short term, followed by a potential slowing of growth in 2017 due to global economic uncertainties.
The overall outlook for 2017 Canadian M&A activity remains moderately positive, despite the decrease in the number of Canadian companies sold in 2016. Corporate balance sheets are flush with cash, with corporations actively looking for quality investments. Interest rates remain low, and oil prices are showing signs of improvement. Private Equity firms also have large cash holdings and often see Canadian firms as good "bolt-on" opportunities. Read the report for more detail on trends, public market performance and deal activity.
The document discusses commercial real estate lending trends in 2017. It provides an economic overview of 2016, noting that while global economies moderated, the US GDP maintained moderate growth. Consumer spending was the main driver of growth, while business investment declined. Employment gains were strongest in education, professional services, and leisure/hospitality. Lending conditions tightened for commercial real estate due to increased regulatory oversight.
Colliers Toronto office market report 2015 q3Chris Fyvie
This document provides a quarterly market report on the Greater Toronto Area office market. It finds that in Q3 2015, the overall vacancy rate declined slightly to 5.4% while availability decreased to 10%. Nearly 5 million square feet of new office space is under construction. Financial services is leading demand, focused in downtown, north and west GTA. The investment market saw a decrease in transactions from the previous quarter due to low supply of quality assets. The downtown submarket saw its vacancy rate decline slightly as well.
- The document provides an overview of global real estate investment trends in 2015 and an outlook for 2016.
- Global property investment volumes fell slightly for the first time in 6 years in 2015, down 2.4% to $1.29 trillion, driven by a pullback in Asia, notably for development land. Excluding land, volumes rose 8.2%.
- Going forward, the focus will be on core assets that provide value to occupants. Investors will seek platforms for local intelligence and pursue opportunities such as modern flexible office, retail, and logistics space in gateway cities.
Paine Wetzel/TCN 2016 Q4 State of the Market: Central EditionMarc Hale
TCN Worldwide is a consortium of 1,500+ commercial real estate professionals providing services in over 200 markets worldwide. It manages approximately $38.8 billion in transactions and 80 million square feet of space annually. The US economy grew at a moderate 2.3-2.4% in 2017-2018 according to forecasts, with some fiscal stimulus in the short run under the new administration. Commercial real estate transaction volumes declined in the central US region in 2016, with office down 20.6%, industrial down 45.4%, and retail down 9.7% compared to the previous year.
Capital Markets Insights: Credit Availability for the Middle Market Remains R...Duff & Phelps
Recent trimming in first lien debt appetite resulted in a higher proportion of second lien and junior debt in capital structures. The fuller covenant packages typical of the private market, combined with unabated growth in private investor capital formation, have served to differentiate middle market conditions from those of the broader liquid markets. While the weighted average cost of debt for middle market issuers has increased modestly, credit availability — both in terms of leverage multiples and cost — is robust.
2015 2Q North American Office Market ReportCoy Davidson
The U.S. office market saw improvements in Q2 2015, with vacancy rates declining and absorption improving. However, the Canadian office market weakened, with rising vacancy rates driven by falling oil prices. Overall North American vacancy fell slightly to 12.7%, with U.S. vacancy down to 13.0% and Canadian vacancy up to 9.1%. Absorption was positive in the U.S. at 23.1 million square feet but negative in Canada at -0.5 million square feet. The outlook remains positive for the U.S. office market but negative for Canada due to economic challenges from low oil prices.
The document provides an executive overview and market summary for commercial real estate in Boston for the fourth quarter of 2010. Some key points:
- The US unemployment rate declined to 9.4% in Q4 2010, though the rate remains elevated. Private sector employment grew by 113,000 jobs in December.
- In Greater Boston, the office market saw positive absorption in the suburbs but negative absorption downtown. Availability rates increased slightly to 20.4%.
- The Cambridge office market remained relatively healthy with positive absorption, while the lab market was flat. Availability rates declined in both sectors.
There were 773 Canadian companies sold during the first half of 2017, which remained relatively flat compared to the same period last year. Canadian transactions remained predominately within borders as 549 deals were acquired by a Canadian company in 1H 2017. The renegotiation of NAFTA and changes to the taxation of private corporations will likely effect Canadian M&A activity for the remainder of the year. Read the report for more detail on trends, public market performance and deal activity.
Karen Hanover - Commercial Real Estate - IRRKaren Wagner
Karen Hanover presents commercial real estate market analysis for 2017 by Integra Realty Resources. For more real estate investing tips and tricks, go to http://karenhanover.biz
JLL Louisville Industrial Outlook Q3 2017 Ross Bratcher
The Louisville industrial market remains strong, driven by large employers like UPS, Ford, and GE Appliances. While leasing activity has slowed slightly compared to unprecedented development, vacancy rates are projected to fall as available space is absorbed. Investment and development continue as investors are attracted to the steady fundamentals and market consistency of the Louisville area.
- M&A and capital markets activity increased in Q4 2020, with global M&A deal value reaching over $1 trillion for the full year despite economic challenges from the COVID-19 pandemic.
- Median middle market deal values and EV/EBITDA multiples remained steady between 2019 and 2020, while private equity buyout multiples reached new highs and add-on deals made up a record percentage of leveraged buyouts.
- Debt multiples and pricing were largely unchanged in Q4, while private equity fundraising saw its lowest annual total since 2015.
In this special edition of Valuation Insights, we discuss some of the key valuation and compliance impacts that will likely result from Brexit. Specifically, we review the short-term and long-term economic implications, as well as compliance and regulatory considerations. We also highlight valuation issues, including how companies and investors determine cost of capital and measure risk in the current environment, and discuss implications for transfer pricing with respect to EU Directives. While all industries will be impacted by Brexit, in this issue we focus on the banking and financial services sectors, which stand to be the most heavily affected.
The 2016 Faegre Baker Daniels M&A Conference Update, including a presentation and talking points by Bridgepoint Merchant Banking's Managing Principal Adam Claypool.
Commercial Real Estate Market Trends - 2017cutmytaxes
The document summarizes commercial real estate market trends for the first quarter of 2017 according to a survey by the National Association of REALTORS. Key points include:
- Sales volume declined 4.4% year-over-year while prices rose 7.2%, indicating a tight market.
- Inventory shortage remained the top challenge.
- Leasing volume rose 2.3% quarter-over-quarter while rates increased 3.8% and concessions fell 11.1%.
- Financing availability returned as a top concern.
Colliers toronto office leasing market report 2014Chris Fyvie
The document provides a market report on office space in the Greater Toronto Area for Fall 2013. Some key points:
- Vacancy rates continued to decline in the third quarter of 2013, reaching record lows of 5.8% in the GTA overall and 3.9% downtown.
- With significant new development planned, vacancy rates are expected to rise to near double digits by 2016-2017, providing an opportunity for tenants to renegotiate leases.
- Downtown Toronto demand remains strong with a slight decline in vacancy. The financial core submarket also saw steady demand.
- Midtown and GTA North markets also saw low vacancy rates and positive absorption in the third quarter. The GTA
Commercial Real Estate Outlook - November 2010NAR Research
The document summarizes commercial real estate market conditions in the third quarter of 2010. It finds that while GDP growth was moderate, unemployment remained high, contributing to uncertainty. Commercial real estate fundamentals are expected to modestly improve in 2011, with rents continuing to decline and vacancies remaining elevated. Multifamily performance has been more resilient and is expected to lead the recovery in 2011.
The document provides an overview and outlook of global real estate markets in 2009. It discusses how the global economic slowdown has negatively impacted commercial property markets worldwide, with rising vacancy rates and falling rents. It then summarizes real estate market conditions and outlooks for various regions including:
- The US, where vacancy rates are expected to rise and rents fall across major markets like New York City and Boston in 2009. The Washington DC retail sector is expected to perform well due to government spending.
- Europe, where prime property markets like London face declining demand and rents.
- Asia-Pacific, where the outlook is mixed with stronger performance in some Chinese cities compared to other markets like Japan.
- Middle East
Commerce Real Estate Solutions 3rd Qtr 2010 Industrial ReportJessica Parrish
Vacancy rates in the Las Vegas industrial market rose to 15.1% in the third quarter of 2010, up from 15.0% the previous quarter. Average asking lease rates remained steady at $0.60 per square foot. With developers halting new projects, there were no new construction completions during the quarter and only a small amount of space remains under construction. The outlook continues to be cautious as the market remains impacted by weak economic conditions and high unemployment.
Jll commercial real estate market report toronto 2014Chris Fyvie
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The retail market report summarizes 2015 trends in the Phoenix metro area. It notes that 65,700 jobs were added in 2015, home starts increased 70% year-over-year, and these economic gains are boosting consumer confidence. Retail vacancy rates declined to 9.3% while net absorption was 1.77 million square feet. Average rental rates increased to $14/sqft, up from $13.62/sqft in 2014. The report concludes that with continued job and housing growth, the retail sector is poised for growth in 2016.
Commercial Real Estate Market Overview August 2015_tcm78-50654Yirong Song
The document summarizes commercial real estate market trends from 1950-2015. It discusses the post-WWII shift from central business district (CBD) office space to suburban office space due to demographic and economic factors. Starting in the late 1990s and 2000s, CBD office demand increased as crime rates fell and millennials entered the workforce. While CBDs have generally outperformed suburbs, some technology and energy markets saw stronger suburban growth after 2008. Across property types, vacancy rates declined and prices rose from 2014-2015, though retail prices remain below 2007 levels. The industrial, apartment, and office sectors are expected to see declining vacancies and rent growth amid new supply.
- Home sales in the Greater Toronto Area reached a record high of 113,133 in 2016, an 11.8% increase over 2015. The average selling price also increased significantly, rising 17.3% to $729,922.
- Housing demand remained strong due to a healthy regional economy and population growth, however the supply of homes listed for sale declined, exacerbating price increases. Listings were at their lowest point in over 15 years.
- While foreign buyers make up a small share of the market (estimated at 4.9% of transactions), affordability continues to be a concern, especially if the city increases land transfer taxes as proposed in the budget.
Q1 - 2015 North American Industrial HighlightsCoy Davidson
The North American industrial vacancy rate declined 15 basis points to 6.7% in Q1 2015. Net absorption was strong at 63.1 million square feet, while 52.0 million square feet of new space was added. Healthy demand and a need for modern space has led to an upswing in construction activity in both the US and Canada. Tightening market conditions have pushed up industrial rents, with average US warehouse rents rising 2.2% to $5.16 per square foot.
House prices in South Africa remained steady in August 2019, growing 3.6% year-over-year. While transaction volumes increased slightly, mortgage lending has grown faster than house prices. Demand for housing has shown mild signs of improvement while inventory levels have stabilized. Looking ahead, house price growth is expected to remain around 3.5-4% for 2019 and 2020, supported by lower interest rates but constrained by economic challenges.
Asia Pacific Office Markets Sentiment Survey Q2 2015JLL
The JLL Office Markets Sentiment Survey tracks and measures sentiment and outlook for key office leasing markets in Asia Pacific. See where our local experts feel tenant activity is expected to increase, in what sectors and why; where vacancies are set to fall, the likely impact on rents and the sentiment for the next 12 months.
1) Housing prices in the Boston area increased 3.1% in the last year but price growth is slowing. The median home price is $625,500, which is above the conforming loan limit.
2) Unemployment in Boston is higher than the national average at 5.3%, weighing on consumer confidence. Employment growth has eased but remains positive.
3) New housing construction is down 11% from a year ago, but remains above the long-term average, which could increase inventory and moderate price growth if production stays high.
The national office market saw little change in the first quarter of 2010. Availability rates were largely stable, with a slight decline nationally. Asking rental rates continued to decline across most markets by around 2.5% nationally. Leasing activity was subpar and below historical averages, as companies remain cautious. While some economic indicators show improvement, companies are still hesitant to significantly increase hiring or leasing. Most tenants and landlords are focused on short-term extensions and cost reductions to maintain stability during an uncertain time.
The single tenant net lease market finished strongly in Q4 2010 with high transaction volume driven by low interest rates, available financing, and excess supply from 2009. However, several factors in 2011 may slow activity from last year's levels, including potential interest rate increases, less new development, and fewer owners willing to sell as cap rates rise. Overall fundamentals remain stable, but many investors are adjusting strategies for lower expected transaction volume.
The single tenant net lease market finished strongly in Q4 2010 with high transaction volume driven by low interest rates, available financing, and excess supply from 2009. However, several factors in 2011 may slow activity from last year's levels, including potential interest rate increases, less new development, and fewer owners willing to sell as cap rates rise. Interest rate changes and potential new accounting standards for lease liabilities could significantly impact the net lease industry going forward.
Real Estate Capital Markets Are Alive, If Not Quite WellDan Hutchins
The document summarizes the state of the commercial real estate market based on an analysis by Dr. Peter Linneman. It notes that $240 billion of distressed commercial real estate loans have occurred since the recession, with varying resolutions for different portions of that total. Real estate sales activity has increased in 2020 compared to 2009 across major sectors, but average unit prices dropped in some sectors. REIT implied capitalization rates have fallen significantly since late 2009. The recovery of real estate prices reflects an assumption of strong job growth over the next 3-4 years, but real estate performance will depend on accuracy of views about economic recovery and inflation.
The document summarizes key metrics and trends in the 2019 San Francisco County housing market based on data from the local MLS. It finds that while buyer activity was strong due to low mortgage rates and a healthy economy, inventory constraints continued to limit sales. Median home prices rose 2.2% from 2018 to $1,380,000. Condo prices increased more than single family homes. Most neighborhoods saw price increases but inventory declined substantially year-over-year.
Commercial Real Estate Outlook provided by the National Association of Realtors reporting on the economy, major commercial real estate sectors including industrial, retail, office and multi-family / apartment sectors
TREB's MARKET WATCH FEBRUARY 2019 REPORTShawn Venasse
March 5, 2019 -- Toronto Real Estate Board President Gurcharan (Garry) Bhaura announced that Greater Toronto Area REALTORS® reported 5,025 homes sold through TREB's MLS® System in February 2019. This sales total was down by 2.4 per cent on a year-over-year basis. Sales were also down compared to January 2019 following preliminary seasonal adjustment.
TRREB reported 4,581 home sales in January 2020 – up by 15.4 per cent compared to January 2019 and up by 4.8 per cent compared to December 2019.
“Steady population growth, low unemployment and low borrowing costs continued to underpin substantial competition between buyers in all major market segments,” said TRREB President Michael Collins.
The average selling price in January was up by 12.3 per cent, driven by the detached houses & condominium apartments.
Colliers canada national market snapshot 2020 q4Chris Fyvie
• Although Q4 2020 has brought good news on the vaccine front and removing some of the overall economic uncertainty, we are not in the clear yet and some asset types will take longer to rebound than others.
• The office market continues to experience rising vacancy, predominantly due to rising downtown sublet space. This corresponds with office attendance levels, which are trending below 15% in downtowns, compared to around 30% in the suburbs.
• After a brief pause in activity earlier in the pandemic, the industrial market continued to tighten in Q4 2020. Despite some weakness in bricks and mortar and restaurant distribution as well as in experiential users, strong demand from e-commerce and grocery users drove vacancy down and rents stable.
• The first half of 2021 will remain difficult for many. However, like in 2020, as summer 2021 approaches the economy is expected to thaw. This economic rebound will pick up steam as the vaccine rollout reaches completion.
This document provides an overview of office market statistics for various submarkets in the Greater Toronto Area (GTA) for the first quarter of 2017. Key metrics reported include number of buildings, total office inventory, vacant space, vacancy rates, available space, absorption rates, and average asking rental rates. The Financial Core submarket had 94 buildings totaling 37 million square feet of office inventory, with a vacancy rate of 4.4% and average asking gross rent of $58.72 per square foot.
Downtown toronto office survey package august 25 2016Chris Fyvie
This document provides property listings for various office spaces in downtown Toronto. It includes summaries of 12 different properties, listing available suites with details on area, rent rates, and expenses. Floor plans are also included for some of the suites. The listings range in size from 2,244 square feet to 4,066 square feet and are located across the financial district. Rent rates vary between $24 to $42.75 per square foot depending on the building and suite.
WTF Properties - Toronto Office Space July availability reportChris Fyvie
This document provides property listings for various commercial real estate locations in Toronto, Ontario, including descriptions of building features and available suites. Contact information is provided for Honor Sewell and Lauren Tapp to obtain further details on lease availability and pricing. Suite sizes, availability dates, and costs per square foot are outlined for many of the properties.
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- Availability is highest in the GTA West submarket at 14.6% while tenants have many options and landlords offer incentives.
- Downtown Toronto had the largest positive absorption but vacancy increased due to new deliveries such as Bay Adelaide East. Availability is highest in the Financial Core submarket at 10.7%.
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- Almost 5 million square feet of new office space is under construction, with 2 million square feet expected to be delivered in 2016.
- Downtown Toronto vacancy held steady at 2.5% while availability increased. Rents increased most significantly in downtown east and west.
- Midtown Toronto also saw steady vacancy of
The document provides statistics on office market conditions in different submarkets in the Greater Toronto Area (GTA) during the first quarter of 2016, including:
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- The Downtown submarket had a total of 278 buildings containing 65.2 million square feet, with a vacancy rate of 2.5% and availability rate of 8.4%. It experienced a net absorption of -44,384 square feet during the quarter.
- Average asking net and gross rents in the Downtown submarket were $28.63 and $54.46 per square foot respectively
Cadillac Fairview Office Vacancy - May 2016Chris Fyvie
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#Toronto Businesses now demanding their offices be close to accessible, rapid...Chris Fyvie
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- Office space near transit commands higher rents and lower vacancy rates compared to non-transit areas.
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Indore is one of the fastest-growing cities in India, with a rapidly expanding economy and a booming real estate market.
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1. greater toronto area
COLLIERS INTERNATIONAL | MARKET REPORT & FORECAST
www.colliers.com/toronto
Canadian Market Overview
MARKET INDICATORS
Q3 2010
OFFICE INVENTORY ~
NET ABSORPTION ~
VACANCY RATE
AVERAGE ASKING NET RENT ~
AVERAGE ADDITIONAL RENT |}
As the third quarter of 2010 comes to a close, the economic climate remains cautiously
optimistic with the recovery still fragile. Warren Buffett recently stated he does not see
signs of the U.S. headed for a double dip, though that may bring little comfort for the
unemployed as everyone watches to see if unemployment numbers improve.
GDP growth in the first half of this year surprised many with a strong showing at 5.8
percent. Depletion of inventories, unleashed pent-up demand, and fiscal and monetary
stimulus have all contributed to this astounding growth. As we enter into the second half of
2010, GDP is expected to grow at a more subdued level of about 2.0 percent (annualized)
due in part to a weak U.S. recovery, an increasingly fatigued consumer, and the easing of
monetary and fiscal stimulus that were needed to stave off a global recession.
GTA Office Market Overview
The Greater Toronto Area (GTA) office market gradually regained stability in 2010 as a
healthy availability rate was established at approximately 10.5 percent for the past 12
months. The vacancy rate remained stable for the past four consecutive quarters at 6.5
percent, despite the completion of many new buildings during the last two years. All five
Q3 2010 | OFFICE
Midtown
Downtown
GTA East
GTA West
GTA North
2. GTA markets reported minimal positive
net absorption which has yet to affect the
overall vacancy rate. Average asking net
rent fluctuated marginally within a range
of $16.25 to $16.35. Although some areas
appeared to be more competitive than
others, the overall GTA office market held
on to a tenant-favoured sentiment, with
opportunities for tenants to optimize their
real estate strategies.
In comparison to the central area, suburban
markets reported higher vacancy rates and
subsequently, a larger sublease market. GTA
East and GTA West contributed to 55 percent
of the total vacant space in the GTA and
correspondingly, 20.6 percent of available
space in suburban GTA was for sublease,
versus 13.5 percent in GTA central.
Across the GTA, all markets showed a
return of activity, which is anticipated to
increase positive absorption. Occupancy
rates should continue to increase as no
major new supply is expected in the market
in the near future. Average asking net rent is
expected to dip slightly over the balance of
2010 and gradually pick up in the following
six to nine months. The office market overall
is forecasted to stabilize in the short term
and shift to a landlord’s market by the end
of next year as supply is depleted.
Using office employment growth as a proxy
for office space demand, vacancy rates are
expected to rise marginally by the end of
this year and decline to around 6.1 percent
in 12 months. Average asking net rent is
projected to increase steadily to $16.38 per
square foot by the end of Q3 2011.
FORECAST
Source: Colliers International, August 2010
Net New Supply Asking Net Rent Vacancy Rate
2000
0.0%
12.0%
$0
$5
$10
$15
$20
$25
$30
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
1 2 3 4 1 2 3 4 1 2 3 4
4.0%
6.0%
8.0%
10.0%
NetRent$/PSF/NetNewSupply(100,000SF)
1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3
$16.26
6.5%
GTA | HISTORICAL PERFORMANCE & FORECAST | Q1 2000 - Q3 2012F
GTA Office Market Overview (continued)
P. 2 | COLLIERS INTERNATIONAL
MARKET REPORT & FORECAST | Q3 2010 | OFFICE | GREATER TORONTO AREA
3. GTA Downtown
THE MARKET
The gradual expansion of the Finance,
Insurance and Real Estate (FIRE) sector
has been one of the primary drivers of the
downtown market over the past five quarters.
Somemid-sizecompanieshavebeenactivein
the downtown market outside of the financial
core, while smaller companies do not have
a strong presence in this market. Renewals
have been predominant in the marketplace
and tenants have remained cautious, thus
placing some downward pressure on rental
rates in order to retain the competitiveness
of available space.
TRENDS
GTA Downtown has been stabilizing in both
vacancy and rent performance.The vacancy
rate has been continuously increasing since
Q4 2007, but its pace slowed in the past
year to settle at 5.6 percent by Q3 2010.
After a significant decline of 9.7 percent in
Q3 2009, average asking net rents hovered
at approximately $21 for the past year.
FORECAST
Rental rates are predicted to remain
steady in the short term and eventually
increase in the second half of 2011 as
the market becomes more favorable to
landlords. It is foreseeable that vacancy
rates for Class A and AAA buildings will
go up by the end of this year as some
large tenants have decided to relocate
outside of the financial core. Going into
2011, the return of strong activity is
expected to turn into positive absorption.
Similar to the GTA market as a whole, the
downtown vacancy rate is projected to
experience a minimal increase followed by
a decline in 2011. Average asking net rent is
expected to increase steadily to $21.34 per
square foot by the end of Q3 2011.
FORECAST
Source: Colliers International, August 2010
Net New Supply Asking Net Rent Vacancy Rate
2000
0.0%
9.0%
12.0%
18.0%
$0
$5
$10
$15
$20
$25
$30
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
1 2 3 4 1 2 3 4 1 2 3 4
3.0%
6.0%
15.0%
1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3
NetRent$/PSF/NetNewSupply(100,000SF)
$15.97
5.6%
GTA DOWNTOWN | HISTORICAL PERFORMANCE & FORECAST | Q1 2000 - Q3 2012F
COLLIERS INTERNATIONAL | P. 3
MARKET REPORT & FORECAST | Q3 2010 | INDUSTRIAL | GREATER TORONTO AREA
4. GTA Midtown
THE MARKET
With limited new supply, the GTA Midtown
market has not experienced much change.
Both Yonge-Bloor and Yonge-St.Clair
submarkets had low vacancy rates of four
percent and five percent respectively, and
low transaction volumes. With only a few
large contiguous spaces available in those
two areas, smaller deals have been driving
these submarkets. Yonge-Eglinton had a
much higher vacancy rate of seven percent
in comparison to the other two submarkets,
which was due to an elevated vacancy rate
in Class A buildings.
TRENDS
The GTA Midtown market has followed
the trend of the GTA overall in terms of
stabilization. After a moderate increase
of 0.3 percent in the second quarter, the
vacancy rate of the midtown market returned
to 4.7 percent, the same level observed in the
second half of 2009 and early 2010. Average
asking net rent has declined since Q4 2008
and but has steadied at around $16 per
square foot in the last three quarters.
FORECAST
The midtown market is forecasted to remain
flat for the rest of 2010 and most of 2011.
With some available sublease space coming
onto the market, the vacancy rate is expected
to slightly increase in the short term , but
overall the market is tight. As the economy
improves, rents should go up by the middle
of next year, which will make it more difficult
to get deals done.
Colliers projects the GTA Midtown vacancy
rate will remain at 4.7 percent for most of
2011 and that average asking net rents will
marginally trend upwards.
FORECAST
Source: Colliers International, August 2010
Net New Supply Asking Net Rent Vacancy Rate
2000
4.0%
10.0%
$0
$2
$6
$10
$14
$16
$20
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
1 2 3 4 1 2 3 4 1 2 3 4
$18
$12
$8
$4
2.0%
6.0%
8.0%
1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3
NetRent$/PSF/NetNewSupply(100,000SF)
$15.97
4.7%
GTA MIDTOWN | HISTORICAL PERFORMANCE & FORECAST | Q1 2000 - Q3 2012F
P. 4 | COLLIERS INTERNATIONAL
MARKET REPORT & FORECAST | Q3 2010 | OFFICE | GREATER TORONTO AREA
5. THE MARKET
The GTA North office market has maintained
a vacancy rate of below five percent since
the Q2 2007 and based on this indicator, is
considered to be the healthiest market across
all other GTA submarkets. This is partially due
to the tight supply of the smaller submarkets,
such as Dufferin-Finch and Richmond Hill.
Similar to other markets in the GTA, activity
levels have been rising in GTA North over the
past quarter due to increased tenant demand.
TRENDS
Since the beginning of Q1 2010, vacancy
levels have moderately dropped 5.1 percent
to 4.7 percent as transactions from 2009
closed. Average asking net rents responded
with consistent increases to a ten-year
record high of $18.22 per square foot. Net
absorption recovered from a first quarter
loss of 112,383 square feet and began to
show improvement in the last two quarters
with a total gain of 305,913 square feet.
FORECAST
Minor changes are anticipated in the GTA
North market and sublease absorption
should continue to keep the momentum
going. Similar to other markets, activity levels
will continue to improve.
Colliers expects that mild positive net
absorption will drive the vacancy rate to 3.9
percent over the next 12 months and average
asking net rents should respond with an
increase to $18.34 per square foot.
GTA North
FORECAST
Source: Colliers International, August 2010
Net New Supply Asking Net Rent Vacancy Rate
2000
1.0%
6.0%
12.0%
$0
$10
$15
$25
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
1 2 3 4 1 2 3 4 1 2 3 4
$20
$5
2.0%
4.0%
10.0%
8.0%
1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3
NetRent$/PSF/NetNewSupply(100,000SF)
$18.22
4.1%
GTA NORTH | HISTORICAL PERFORMANCE & FORECAST | Q1 2000 - Q3 2012F
COLLIERS INTERNATIONAL | P. 5
MARKET REPORT & FORECAST | Q3 2010 | INDUSTRIAL | GREATER TORONTO AREA
6. GTA East
THE MARKET
GTA East has the highest vacancy rate in the
GTA as a whole at 8.1 percent. Submarkets
in this region quoted rental rates of $13.19—
far below the GTA average of $16.26
per square foot. Nodes in the southern
part of the GTA East market have stayed
competitive, such as Consumers Road and
Woodbine-Steeles. However, Scarborough
has experienced challenges in attracting
tenants and continues to have a high level of
available space at approximately 4,130,000
square feet.
TRENDS
AverageaskingnetrentsforGTAEastreached
the bottom of the recessionary trough in
Q3 2009 and have increased marginally to
$13.19 in the last quarter, the lowest among
all GTA markets. The vacancy rate fluctuated
between 7.8 percent in Q1 and 8.1 percent in
Q3. Leasing activity has improved in most of
the submarkets resulting in a positive change
in net absorption from -342,572 square feet
in Q2 to 423,541 square feet in Q3.
FORECAST
Colliers expects the GTA East market to
remain constant overall, with moderate
positive absorption driven by better
performing areas such as Markham and
Woodbine-Steeles.
Vacancy rates are expected to trend
downwards to 7.9 percent by Q3 2011, with
average asking net rent increasing to $13.25
per square foot.
FORECAST
Source: Colliers International, August 2010
Net New Supply Asking Net Rent Vacancy Rate
2000
1.0%
7.0%
9.0%
15.0%
$0
$2
$6
$10
$12
$16
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
1 2 3 4 1 2 3 4 1 2 3 4
$14
$8
$4
3.0%
5.0%
13.0%
11.0%
1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3
NetRent$/PSF/NetNewSupply(100,000SF)
$13.19
8.1%
GTA EAST | HISTORICAL PERFORMANCE & FORECAST | Q1 2000 - Q3 2012F
P. 6 | COLLIERS INTERNATIONAL
MARKET REPORT & FORECAST | Q3 2010 | OFFICE | GREATER TORONTO AREA
7. THE MARKET
While consistent activity was observed
during the past quarter in the GTA West
market, the performance of office leasing
varied among submarkets and building
types. Areas such as the Airport Corporate
Centre continued to experience challenges
and had a vacancy rate of 16.7 percent, the
highest among all GTA submarkets. With
limited supply of larger spaces, landlords
had more negotiating strength within that
product category, while smaller office
spaces faced additional competition from
the sublease market.
TRENDS
With the vacancy rate remaining fairly
constant at approximately 8.2 percent for
the last three consecutive quarters, GTA
West office markets are steady. Asking net
rents showed mild fluctuation in the past
12 months and declined from $15.30 in Q1
to $14.95 per square foot in Q3.
FORECAST
The GTA West market is projected to have
stronger activity as available sublease
space is absorbed and the overall vacancy
rate declines.
Colliers anticipates the vacancy rate to drop
to 6.8 percent a year from now and foresees
a higher average asking net rent of around
$15.35 per square foot by Q3 2011.
GTA West
FORECAST
Source: Colliers International, August 2010
Net New Supply Asking Net Rent Vacancy Rate
2000
0.0%
6.0%
8.0%
14.0%
$0
$2
$6
$10
$12
$14
$18
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
1 2 3 4 1 2 3 4 1 2 3 4
$16
$8
$4
2.0%
4.0%
12.0%
10.0%
1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3
NetRent$/PSF/NetNewSupply(100,000SF)
$14.95
8.2%
GTA WEST | HISTORICAL PERFORMANCE & FORECAST | Q1 2000 - Q3 2012F
COLLIERS INTERNATIONAL | P. 7
MARKET REPORT & FORECAST | Q3 2010 | INDUSTRIAL | GREATER TORONTO AREA