Q1 2017 Guelph Office Market Report
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Research & Forecast Report GUELPH OFFICE First Quarter 2017
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Transcript of Q1 2017 Guelph Office Market Report
Research & Forecast Report
GUELPHOFFICE First Quarter 2017
Historical Performance and Forecast
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Net Absorption New Supply Vacancy Rate
Notable Sale TransactionsPURCHASER & ADDRESS PRICE APPROXIMATE
SIZE (SF)
2. Vesterra Inc.390 Speedvale Avenue East $780,000 4,200
Upcoming New InventoryADDRESS COMPLETION APPROXIMATE
SIZE (SF)
3. 535 Hanlon Creek Boulevard 2017 14,026
2
3
Notable Lease Notable Sale New Supply
1
Research & Forecast Report | First Quarter 2017 | Guelph / Office | Colliers International
Notable Lease TransactionsADDRESS TYPE APPROXIMATE
SIZE (SF)
1. 120 Research Lane Headlease 7,298
Summary Statistics Guelph Office Market 2016 Q4 2017 Q1 Trend
Office Inventory 1,951,614 1,951,614
Net Absorption -12,513 17,724
Vacancy Rate 6.69% 5.79%
Average Asking Net Rent(Per Square Foot) $13.86 $13.68
Average Additional Rent(Per Square Foot) $9.26 $9.51
City of GuelphOne of Canada’s fastest growing cities with a population base of over 130,000, Guelph is also part of one of Ontario’s strongest economic regions, offering easy entry to major Canadian and U.S. markets. With competitive land and building development, and business operating costs, Guelph has increasing appeal; it offers a variety of available employment lands and buildings to meet most business needs. Home to a diverse economic base including agricultural biotechnologies, the advanced manufacturing sector as well as expanding life sciences and environmental technologies clusters. Well educated and skilled workforce, with access to research facilities and graduates from 15 major Canadian post-secondary institutions within 100 kilometres.
Trends
> The Guelph office market is under-supplied in a number of areas.
> New build opportunities are being pursued prior to construction completion.
> Guelph continues to attract tenants to suburban locations, however the downtown core is beginning to develop interest.
Copyright © 2017 Colliers International.
The information contained herein has been obtained from sources deemed reliable. While every reasonable effort has been made to ensure its accuracy, we cannot guarantee it. No responsibility is assumed for any inaccuracies. Readers are encouraged to consult their professional advisors prior to acting on any of the material contained in this report.
About Colliers International Group Inc.
Colliers International Group Inc. is an industry leading global real estate services company with more than 15,000 skilled professionals operating in 68 countries. With an enterprising culture and significant employee ownership, Colliers professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of Outsourcing Professionals’ Global Outsourcing for 11 consecutive years, more than any other real estate services firm.
colliers.com
396 offices in 68 countries on 6 continentsUnited States: 153 Canada: 29 Latin America: 24 Asia Pacific: 79 EMEA: 111
$2.6BUS* in annual revenue
2Bsquare feet under management
15,000professionals and staff
*Based on 2016 results
MARKET CONTACT:Serguei Kaminski Market Intelligence Coordinator | Waterloo Region+1 519 904 [email protected]
Karl InnanenManaging Director, Broker | Waterloo Region+1 519 904 [email protected]
Colliers International | Waterloo Region305 King Street West, Suite 606Kitchener, ON N2G 1B9 | Canada
+1 519 570 1330
