dtz%20barnicke%20q1%202010%20office%20report

Q1 2010 Office Property Market - Downtown Vancouver

Q1 2010 Office Property Market Trends

Downtown Vancouver - BC

Data Overview- Sources: - Altus InSite Office Market - Available Space History (3/23/2010) - Altus InSite Office Market - Occupancy Costs History (3/23/2010)

- This document should not be relied upon as a basis for entering transactions without seeking specific, qualified advice. Whilst facts have been rigorously checked, DTZ Barnicke can take no responsibility for any damage or loss suffered as a result of any inadvertent inaccuracy within this document.

Office market summary Q1 2010

Class Buildings Inventory (sq ft) Total Vacant (sq ft) Sublet Vacant (sq ft) Total vacancy rate (%)All Classes 156 20,493,095 722,913 299,339 5.5

A 50 12,426,036 271,074 179,692 3.6B 52 5,305,242 261,464 97,871 8.6C 54 2,761,817 190,375 21,776 7.9

DTZ Barnicke Vancouver Limited800 - 475 West Georgia Street, Vancouver, B.C. V6B 4M9 Tel: (604) 684 7117 Fax: (604) 684 1017

www.dtzbarnicke.com/vancouver

Direct and sublet vacancies Q1 2010 average asking face rates and additional rent costs

0

1

2

3

4

5

6

7

Q4 2008 Q1 2009 Q2 2009 Q3 2009 Q4 2009 Current

(%)

Sublet VacancyDirect Vacancy

$0.00

$10.00

$20.00

$30.00

$40.00

$50.00

$60.00

$70.00

All Classes A B C

Average TMI ($/Sq ft)

Average Asking Face Rate ($/Sq ft)

Downtown Vancouver Office Lease Transactions 2009 - 2010

Unit Address Total Sq.Ft. Lease Lease Rate Start Date Purchaser / Tenant Term (months) CAM Rate1350 Georgia Street West, 1090 4,681 Extension 20.00$ 1/1/2011 Amex Canada Inc. 11 15.02$ 2 Water Street, 155 800 Lease 25.00$ 5/1/2009 Revolutive Design Inv. 24200 Hamilton Street, 1224 4,776 SubLease 16.71$ 5/1/2009 Bigbadboo Animation 19 8.42$ B102 Howe Street, 325 1,391 Lease 11.50$ 3/1/2009 Citilogistics Inc. 36 11.95$ 3023 Burrard Street, 595 1,865 Lease 30.00$ 2/1/2009 Powertech Uranium Corp 27 18.72$ 1470 Georgia Street West, 701 1,549 Lease 16.00$ 2/1/2009 Canasia Industries Corp. 30 19.43$ 206 Burrard Street, 970 1,733 Lease 36.81$ 1/1/2009 The Adelphia Management 36



Downtown Vancouver - BC

Downtown Vancouver Office - Current Space Availabilities

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United Kingdom Building

409 Granville Street, Vancouver, British Columbia

Net Min Net Max Taxes

$18.00 $23.00 $13.03

Suite Lease Type Area Divisible Full Floor Improved Available Verified

1402 Office Sublease 1,020 s.f. No Yes 11/24/2009 3/17/2010

475 Howe St.

475 Howe Street, Vancouver, British Columbia


$18.00 $21.00 $16.55



Bentall One

505 Burrard Street, Vancouver, British Columbia


$24.00 $37.00 $19.71


1010 Office Sublease 1,312 s.f. No No 1/6/2010 3/15/2010

535 Thurlow Street

535 Thurlow Street, Vancouver, British Columbia


$13.00 $15.00 $12.85



Bower Building

543 Granville Street, Vancouver, British Columbia


$31.00 $39.00 $14.84


7th_fl Office Sublease 2,000 s.f. No No 12/7/2009 12/7/2009

Harbour Centre

555 West Hastings Street, Vancouver, British Columbia


$27.00 $33.00 $19.32



The Churchill Building

570 Dunsmuir Street, Vancouver, British Columbia


$20.00 $25.00 $10.90

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Downtown Vancouver - BC570 Dunsmuir Street, Vancouver, British Columbia


5th_fl Office Sublease 1,209 s.f. No Yes 1/22/2010 1/22/2010

Bentall Three



$25.00 $47.00 $19.29



The Station

601 Cordova Street, Vancouver, British Columbia


$25.00 $35.00 $17.43



Vancouver Centre

650 West Georgia Street, Vancouver, British Columbia


$18.86



Vancouver Centre

650 West Georgia Street, Vancouver, British Columbia


$18.86



Park Place



$18.81



Park Place



$18.81



Pender Place I, Pacific Centre

700 West Pender Street, Vancouver, British Columbia


$22.00 $17.86



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Downtown Vancouver Office - Current Space Availabilities

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