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Year in Review

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by

Abarnath Devaraj

on 18 March 2016

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Transcript of Year in Review

# of sales 10 year comparison
Office Vacancy by Government
Ottawa Industrial Market Overview
Ottawa Office Market Overview
Highest Number of Sales
Highest Total $ Value of Transactions
Difficult to secure strong tenants
Multi-Family Market Overview
Presented by:
Oliver Tighe, B.A. AACI, P.App
New Government
2015 Year in Review
Lack of Product
Strong Demand from Investment Purchasers
New Development?
Industrial Looking Forward
THE GOOD
The Bad
The Green
Vacancy = High
Net Effective Rents = Low
Demand for High Quality Space = High
Demand for Low Quality Space = Non Existent
Looking Ahead: Ottawa Office
Kanata
new Tenants
Strong Demand
High Demand & Low Cap Rates
Spear Street Flips Blackberry Assets
Purchased One Leased Building, One Vacant Building and a vacant Site for $32,539,000

Sold Two Leased Buildings And a Leased To Be Built Building for $72,500,000
Vendor:
Investors Group
Purchaser:
CanFirst
Price:
$64,875,000
$ Per SF:
$147.38
Cap Rate:
6.40%
24 Buildings
2 Developments Sites
68 Tenants
Canfirst Portfolio
Managing Director
Valuation & Advisory Services
Bayshore: $200 Million
St. Laurent: $25 Million
Rideau Centre: $360 Million
$22,000,000 / Sub 5.0%
Condo Prices Falling
New Rental Construction Increasing
Upward Trending Rents
Cap Rates Remain Low
$33,979,900 / 3.90%

3750 Carousel Crescent, Ottawa
What impact will new supply have on vacancy & rental rates?
When will Condo market recover?
When are cap rates rising?
Ottawa Retail Market Overview

Questions?

May 2014
October 2015
Key Points
+/- $630 Million in Transactions in 2015
Down from a high of $2.18 Billion in 2012
Lowest Since 2008 when only $618 Million Traded
10 Year Average: $920 Million
Commercial Real Estate Market Overview
Ottawa Residential Real Estate Market Overview
Average Home Price
Jan 2016
% Change
$386,839
+ 4.6%
Average Condo Price
-1.3%
$247,205
-Demand in $300k - $400k Greatest
-Condo Market Faltering
Residential
Source: OREB
New Home Construction
2015 starts lowest since 2000
Townhomes in Demand
Barrhaven most active
Oliver.Tighe@colliers.com
613-806-2225
Condo Market Rent vs. Buy
Rent
750 Sq.Ft. 2 Bedroom
$2.20 PSF
Parking $150 Per Month
Total: $1,800 + Utilities
Buy
$425 PSF / $320,000
Mortgage: $1,290
Condo Fees: $450
Property Taxes: $275
Total: $2,015 + Utilities
Full transcript