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Research Report

Fourth Quarter 2009

Signs of Stability Beginning to Show in Canada's Major Markets

The data for the Fourth Quarter 2009 is now live and with the exception of Ottawa, the total available rate for Downtown Core Class A space in each of Canada's major markets has fallen since the previous quarter. Additionally, the number of tenant options in those same markets has also stabilized, possibly signaling the beginning of a turnaround in demand for office space. Registered users can access complete details by logging in. If you have forgotten your userid or password, visit office.altusinsite.com/retrieve.asp to enter your current email address and our system will automatically send you your login details via email.

Q4 2009 Highlights

  • Our database includes 6,515 office buildings, totaling more than 548 million sf, in 21 major, secondary and smaller markets across Canada.
  • There are 5,113 buildings, or more than 473 million sf located in Canada's major markets.
  • There are currently 3,918 Class A, B and C office buildings, 20,000 square feet or greater, in Canada's six major markets totaling 428 million sf - 90.6%, or 388 Million sf is currently occupied.
  • 44 buildings currently under construction in the six major markets, totaling 11.4 million sf, 55.9%, or 6.4 million sf, of that is currently pre-leased.
  • 12 buildings were completed in the six major markets this quarter, totaling 2.0 million sf, with 68.5%, or 1.4 million sf of that currently leased.

Survey Results Indicate a Recovery, but not a Smooth One for Commercial Real Estate

The Q4 2009 Investment Trends Survey results indicate a bumpy recovery for the Canadian commercial investment real estate market. The choppy nature of the rebound is not unexpected given the lack of trading volume of commercial properties, compared to the more responsive residential market. Improved availability of mortgage financing and spreads is encouraging, but conservative lending parameters are keeping local and regional investors on the sidelines. The broad bandwidth of investment yield results underscores the gap between buyers and seller expectations and many qualified buyers continue to await potential distress opportunities.

To read the full text of our quarterly outlook and to access graphs for the current quarter, please login at its.altusinsite.com. If you experience any difficulty logging in, contact useradmin@altusinsite.com.

Addressing the Key Issues in the Canadian Capital Markets

RealCapital 2010 will focus on these key issues and trends by bringing together owners and investors with sources of public and private equity investment and debt financing in the Canadian real estate market. The 2010 program will provide a unique, high-level business forum that will examine these themes, address key issues, assess emerging trends, and discuss effective strategies for real estate investment and financing for office, industrial, retail, and multi-residential sectors in the current environment across the country. For more details, or to register, visit http://www.realestateforums.com/realfinance/mission.html.

Industrial Market Data Now Live in Six Major Markets

Our Industrial Market offering current includes current and historical data on inventory and available space in Vancouver, Edmonton, Calgary, Toronto, Ottawa and Montreal. For more information, or to arrange for a demonstration of our Industrial Market offering, contact subscribe@altusinsite.com to book a tour.

Let Us Help You Accelerate Your Performance!

Get the most out of Altus InSite Office Market. Book a user orientation session to familiarize you and your associates with the recent updates we have made to the system. It can be done either live or via teleconference at no cost to you, and will take no more than 30 minutes of your time. Contact orientation@altusinsite.com to book a session.

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