The Company

Dundee Real Estate Investment Trust
Supplementary
information
package
As at June 30, 2013
www.dundeereit.com
Trust Data
The REIT
REIT Objectives
Dundee REIT is an unincorporated open-ended real
estate investment trust governed by the laws of
Ontario. Dundee REIT is a “mutual fund trust” as
defined in the Income Tax Act (Canada), but is not a
“mutual fund” within the meaning of applicable
Canadian securities legislation. We focus on owning,
acquiring, leasing and managing well-located, highquality central business district and suburban office
properties.

Managing our business to provide growing
cash flow and stable and sustainable returns
through adapting our strategy and tactics to
changes in the real estate industry and the
economy;

Building and maintaining a diversified,
growth-oriented portfolio of office and
industrial properties in Canada, based on an
established platform;
On June 30, 2013, our portfolio consisted of
approximately 24.21) million square feet of gross
leasable area, located in major urban centres across
Canada. Our portfolio is well diversified by geographic
location and tenant mix.

Providing predictable and sustainable cash
distributions to unitholders and prudently
managing distributions over time; and

Maintaining a REIT that satisfies the REIT
exception under the SIFT legislation in order
to provide certainty to unitholders with
respect to taxation of distributions.
Dundee REIT was formed in connection with the
reorganization of the business of Dundee Realty
Corporation on June 30, 2003, pursuant to which
substantially all of Dundee Realty’s commercial real
estate division, including senior management, and a
joint interest in its property management business
were transferred to us. Prior to completing the
reorganization, Dundee Realty had established itself as
one of Canada’s largest real estate companies and had
traded on the Toronto Stock Exchange for six years
between July 1997 and June 2003.
(1)
Excluding assets held for sale and redevelopment properties
Distributions
Dundee REIT pays a monthly distribution to
unitholders at a percentage of distributable
income as the trustees, in their sole discretion,
determine would be in the best interest of the
Trust to distribute. The distribution is paid to
unitholders of record at any month-end on or
about the fifteenth day of the following month.
We also have a Distribution Reinvestment and
Unit Purchase Plan (“DRIP”). For more
information, please visit our web site.
Capitalization
Head Office
(in thousands of dollars, as at June 30, 2013)
Asset value of investment
properties, including
redevelopment properties, assets
related to discontinued operations
and other assets held for sale:
Debt, including investment in joint
ventures and liabilities related to
assets held for sale:
Unitholders’ Equity:
Dundee Real Estate Investment Trust
30 Adelaide Street East, Suite 1600
Toronto, Ontario, Canada M5C 3H1
$ 7,144,652
Dundee Realty Management Corp.
$ 3,470,657
$ 3,838,431
Rental Property Portfolio
(excluding redevelopment properties and properties
held for sale)
As at June 30, 2013:
179 properties (211 buildings)
24,246,402 square feet
Regional Asset Distribution
(by square footage, as at June 30, 2013, excluding
redevelopment properties and properties held for sale)
Western Canada
Calgary
Toronto
(1)
Eastern Canada
(1)
21%
15%
46%
18%
Includes two properties located in the U.S.
Average Occupancy
Stabilized assets only
Average occupancy was 94.9% as at June 30, 2013. This
average excludes redevelopment properties and other
properties held for sale.
Core Rental Property Markets
Toronto, Ontario
Calgary, Alberta
Edmonton, Alberta
Montréal, Québec
Kitchener-Waterloo, Ontario
Ottawa, Ontario
Vancouver, British Columbia
Regina, Saskatchewan
Saskatoon, Saskatchewan
Québec City, Québec
Yellowknife, Northwest Territories
Halifax, Nova Scotia
Telephone: (416) 365-3535
Fax: (416) 365-6565
Regional & Management Offices:
Surrey, British Columbia
Calgary, Alberta
Edmonton, Alberta
Saskatoon, Saskatchewan
Regina, Saskatchewan
Yellowknife, Northwest Territories
Toronto, Ontario
Kitchener, Ontario
Ottawa, Ontario
Montréal, Québec
Trust Information and Stock Exchange
Listings
Dundee REIT began trading on the Toronto Stock
Exchange (“TSX”) on July 2, 2003. Dundee REIT
was formed in connection with the reorganization
of the business of Dundee Realty Corporation on
June 30, 2003, pursuant to which substantially all
of Dundee Realty’s commercial real estate
division, including senior management, and a joint
interest in its property management business
were transferred to the REIT. Dundee Realty was
listed on the TSX from July 1997 to June 30, 2003.
As at June 30, 2013, the REIT had 104,609,576
REIT Units, Series A and 3,538,457 LP Class B
Units, Series 1 outstanding.
Listing Symbols: TSX
REIT Units, Series A: D.UN
5.5% Series H Debenture: D.DB.H
5.95% Senior Unsecured Debenture, Series K: D.DB.K
Transfer Agent
Investor Relations
Computershare Trust Company of Canada
100 University Avenue, 9th Floor
Toronto, Ontario, Canada
M5H 2Y1
Dundee Real Estate Investment Trust
30 Adelaide Street East, Suite 1600
Toronto, Ontario, Canada
M5C 3H1
Board of Trustees
Telephone: (416) 365-3535
Fax: (416) 365-3545
info@dundeereit.com
Ned Goodman, Chairman
Detlef Bierbaum
Donald Charter
Michael Cooper
Peter Crossgrove
Joanne Ferstman
Robert Goodall
David Goodman
Duncan Jackman
Robert Tweedy
Executive Officers
Michael J. Cooper
Vice Chairman and Chief Executive Officer
Mario Barrafato
Senior Vice President and Chief Financial Officer
Ana Radic
Chief Operating Officer
Michael Cooper
Chief Executive Officer
Telephone: (416) 365-5145
mcooper@dundeereit.com
Mario Barrafato
Senior Vice President and Chief Financial Officer
Telephone: (416) 365-4132
mbarrafato@dundeereit.com
Carol Webb
Vice President, Communications
Telephone: (416) 365-3536
cwebb@dundeerealty.com
Web Site
www.dundeereit.com
Table 1: Revenue Properties
June 30, 2013
Total GLA
Owned Share of
Total GLA
in Square Feet
in Square Feet
13
5,387,519
4,418,531
13,594,869
4,531,689
16
5,054,632
3,713,668
11,151,599
4,326,503
86.8%
27,932,608
24,246,402
100.0%
52,285
52,285
Held for Sale Properties
25.0%
369,384
92,347
Total Assets Including Redevelopment and Held for Sale Properties
86.0%
28,354,277
24,391,034
Region
Ownership
11
93.8%
84.0%
82.0%
95.5%
1
Western Canada
Calgary
2
Greater Toronto Area
Eastern Canada/USA
Total
1
Redevelopment Properties
1
Excludes Redevelopment and Held for Sale Properties
2
Includes Properties in Southwestern Ontario
Commercial Revenue Properties by Region
Greater Toronto Area
46%
Calgary
15%
Western Canada
19%
1
Eastern Canada
18%
Table 2: Revenue Properties
Property
June 30, 2013
Ownership
Total GLA
Owned Share of
Total GLA
in Square Feet
in Square Feet
HSBC Bank Place, Edmonton
Enbridge Place, Edmonton
Saskatoon Square, Saskatoon
Station Tower, Surrey
1900 Sherwood Place, Regina
Milner Building, Edmonton
887 Great Northern Way, Vancouver
2257 & 2301 Premier Way, Sherwood Park
2121 & 2181 Premier Way, Sherwood Park
Victoria Tower, Regina
Baker Centre, Edmonton
Princeton Tower, Saskatoon
340-450 3rd Avenue N., Saskatoon
HSBC Building, Edmonton
4259-4299 Canada Way, Burnaby
13888 Wireless Way, Richmond
Highfield Place, Edmonton
Scotia Centre, Yellowknife
Richmond Place, Richmond
4400 Dominion Street, Burnaby
2055 Premier Way, Strathcona County
Precambrian Building, Yellowknife
26229 Township Road 531, Parkland County
Northwest Tower, Yellowknife
625 Agnes Street, New Westminster
2899 Broadmoor Blvd., Strathcona County
2693 Broadmoor Blvd., Strathcona County
11404 Winterburn Rd NW, Edmonton
1914 Hamilton Street, Regina
2665 Renfrew Street, Vancouver
350-450 Lansdowne Street, Kamloops
2833 Broadmoor Blvd., Strathcona County
2261 Keating Cross Road, Victoria
Financial Building, Regina
4370 Dominion Street, Burnaby
Preston Centre, Saskatoon
960 Quayside Drive, New Westminster
2755 Broadmoor Blvd., Sherwood Park
10199 - 101st Street NW, Edmonton
2220 College Avenue, Regina
Morgex Building, Edmonton
Gallery Building, Yellowknife
16134 - 114th Avenue NW, Edmonton
St. Albert Trail Centre, Edmonton
13183 - 146th Street NW, Edmonton
2400 College Avenue, Regina
Royal Centre, Saskatoon
16104 - 114th Avenue NW, Edmonton
2208 Scarth Street, Regina
Royal Centre, Saskatoon
2445 - 13th Avenue, Regina
234 - 1st Avenue South, Saskatoon
Western Canada1
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
40.0%
100.0%
40.0%
100.0%
100.0%
100.0%
100.0%
100.0%
50.0%
100.0%
100.0%
100.0%
100.0%
50.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
93.8%
299,488
262,553
228,371
219,094
185,104
173,325
164,364
153,422
151,675
144,165
143,994
132,702
129,922
118,418
117,971
116,530
104,577
101,440
94,656
92,815
91,596
91,016
89,750
87,647
85,632
82,964
82,499
82,341
82,264
81,662
191,467
76,195
181,545
65,764
63,910
61,850
61,694
61,196
121,357
59,590
53,000
50,149
48,542
96,804
38,861
35,528
32,128
28,664
25,310
16,423
16,018
9,567
5,387,519
299,488
262,553
228,371
219,094
185,104
173,325
164,364
153,422
151,675
144,165
143,994
132,702
129,922
118,418
117,971
116,530
104,577
101,440
94,656
92,815
91,596
91,016
89,750
87,647
85,632
82,964
82,499
82,341
82,264
81,662
76,587
76,195
72,618
65,764
63,910
61,850
61,694
61,196
60,679
59,590
53,000
50,149
48,542
48,402
38,861
35,528
32,128
28,664
25,310
16,423
16,018
9,567
5,054,632
Telus Tower, Calgary
840 - 7th Avenue SW, Calgary
444 - 7th Building, Calgary
McFarlane Tower, Calgary
Life Plaza, Calgary
Rocky Mountain Plaza, Calgary
Franklin Atrium, Calgary
Airport Corporate Centre, Calgary
Northland Building, Calgary
606 4th Building & Barclay Parkade, Calgary
Roslyn Building, Calgary
IBM Corporate Park, Calgary
Atrium I, Calgary
Atrium II, Calgary
510 - 5th Street SW, Calgary
Joffre Place, Calgary
50.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
33.3%
100.0%
100.0%
100.0%
100.0%
708,597
268,883
251,931
242,323
236,846
200,631
149,208
148,478
146,600
134,093
131,762
357,202
109,793
109,392
109,302
107,368
354,299
268,883
251,931
242,323
236,846
200,631
149,208
148,478
146,600
134,093
131,762
119,055
109,793
109,392
109,302
107,368
Year
Built
Year
Renovated
1981
1981
1980
1994
1992
1957
1999/2000
2003
2005/2006
1976
1958
1988
1980
1974
1973
2008
1978
1991
1986
1977
2007
1976
1968
1991
1981
1999
2007
2004
1973
2009
1970
2000
1999
1958
1983
1988
1988
2005/2007
1985
1976
1982
1970
2006
2004
2005
1977
1952
1972
1974
1952
1975
1971
2003
1993
1998
2000/2006
2008
1992
1999
2003
1995
2005
1983
1979
1963
1979
1980
1972
1981
2000
1982
1969
1966
2002
1978
1979
1981
1980
2001
1998
2003
1992
1998
2003
2
Total Site
Area
Owned Share
of Site Area
in Acres
in Acres
Description of Asset
1.6
0.7
0.6
1.0
3.0
0.9
2.3
8.7
7.8
0.8
0.7
0.6
1.1
0.4
3.2
4.8
0.3
0.7
0.9
1.9
4.3
0.8
6.5
0.3
0.6
3.5
4.1
6.3
0.4
3.3
11.9
3.2
4.9
0.6
1.0
3.1
1.8
2.9
0.7
0.6
4.8
0.1
4.4
6.0
2.6
0.5
0.7
4.4
3.2
0.3
0.4
0.7
130.8
1.6
0.7
0.6
1.0
3.0
0.9
2.3
8.7
7.8
0.8
0.7
0.6
1.1
0.4
3.2
4.8
0.3
0.7
0.9
1.9
4.3
0.8
6.5
0.3
0.6
3.5
4.1
6.3
0.4
3.3
4.8
3.2
2.0
0.6
1.0
3.1
1.8
2.9
0.4
0.6
4.8
0.1
4.4
3.0
2.6
0.5
0.7
4.4
3.2
0.3
0.4
0.7
117.3
19-storey downtown office building with commercial parkade
22-storey downtown office building
18-storey downtown office building
18-storey office building with grade level retail
One 9-storey and one 2-storey downtown office buildings
12-storey downtown office building
8-storey office building
2-storey suburban office building
2-storey suburban office building
15-storey downtown government office building
16-storey downtown office building with parkade
11-storey downtown office building with grade level retail
2-storey office building
12-storey downtown office building with underground parking
Two 2-storey suburban office buildings
3-storey suburban office building
10-storey downtown office building
11-storey office building
9-storey suburban office building
5-storey suburban office building
2-storey flex office building
11-storey office building
2-storey flex warehouse building
11-storey office building
5-storey suburban office building
2-storey suburban office building
2-storey suburban office building
2-storey flex industrial building
14-storey downtown office building
2-storey suburban office building
One 1-storey, one 2-storey and one 4-storey retail and office complex
2-storey flex office building
One 2-storey with 4-storey suburban office buildings
8-storey downtown office building
6-storey suburban office building
3-storey suburban office building with grade level retail
4-storey suburban office building
2-storey suburban office building
5-storey downtown office building
7-storey suburban office building
1-storey suburban office building
3-storey office building
2-storey flex industrial building
1-storey suburban office building
2-storey suburban office building
5-storey suburban office building
Retail component of office/retail complex
1-storey flex industrial building
2-storey suburban office building
4-storey downtown office/retail complex
3-storey downtown office building
4-storey parking garage with grade level retail
1.7
0.4
0.8
0.7
0.5
0.9
7.9
0.4
0.3
0.5
2.4
0.5
0.4
0.2
0.6
0.9
0.4
0.8
0.7
0.5
0.9
7.9
0.4
0.3
0.5
0.8
0.5
0.4
0.2
0.6
28-storey downtown office building
20-storey downtown office building
10-storey downtown office building
18-storey downtown office building
18-storey downtown office building
14-storey downtown office building
Two 2-storey suburban office buildings
8-storey suburban office building
14-storey downtown office building
14-storey downtown office building and parkade
10-storey downtown office building
One 5-storey and two 6-storey downton office buildings
8-storey downtown office building
8-storey downtown office building
18-storey downtown office building
6-storey downtown office building
Property
Ownership
Total GLA
Owned Share of
Total GLA
in Square Feet
in Square Feet
Year
Built
Dominion Centre, Calgary
435 - 4th Avenue SW, Calgary
2891 Sunridge Way, Calgary
Kensington House, Calgary
1035 - 7th Ave SW, Calgary
3115 - 12th Street NE, Calgary
Mount Royal Place, Calgary
441 - 5th Avenue SW, Calgary
9705 Horton Road SW, Calgary
Braithwaite Boyle Centre, Calgary
Franklin Building, Calgary
2816 - 11th Street NE, Calgary
14505 Bannister Road, SE, Calgary
Centre 70, Calgary
Calgary
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
15.0%
84.0%
99,014
88,737
87,250
77,903
75,129
73,541
59,384
58,651
54,232
54,681
50,577
33,542
61,224
132,257
4,418,531
99,014
88,737
87,250
77,903
75,129
73,541
59,384
58,651
54,232
54,681
50,577
33,542
61,224
19,839
3,713,668
1979
1978
2001
1982
1979
1981
1979
1973
1976
1982
1978
1981
2000
1977
Scotia Plaza (40 King Street West), Toronto
Adelaide Place, Toronto
5915-5935 Airport Road, Mississauga
State Street Financial Centre, Toronto
Aviva Corporate Centre, Toronto
6655-6725 Airport Road, Mississauga
AIR MILES Tower, Toronto
5001 Yonge Street, Toronto
655 Bay Street, Toronto
Scotia Plaza (44 King Street West), Toronto
74 Victoria St/137 Yonge St, Toronto
720 Bay Street, Toronto
Market Square, Kitchener
100 Frederick Street, Kitchener
1 Riverside Drive,Windsor
18 King Street East, Toronto
275 Dundas Street West, London
36 Toronto Street, Toronto
2075 Kennedy Road, Toronto
5945-5955 Airport Road, Mississauga
50 Burnhamthorpe Road West, Mississauga
50 Queen Street North, Kitchener
30 Eglinton Avenue West, Mississauga
401 & 405 The West Mall Street, Toronto
300, 302 & 304 The East Mall, Toronto
625 Cochrane Drive, Markham
330 Bay Street, Toronto
100 Yonge Street, Toronto
20 Toronto St/33 Victoria St, Toronto
Valleywood Corporate Centre, Markham
90 Burnhamthorpe Road West, Mississauga
185 The West Mall, Toronto
8 King Street East, Toronto
2645 Skymark Ave., Mississauga
55 King Street West, Kitchener
250 Dundas Street West, Toronto
100 Gough Road, Markham
Victory Building, Toronto
235 King Street East, Kitchener
22 Frederick Street, Kitchener
Accelerator Building, Waterloo
6299 Airport Road, Mississauga
1020 Birchmount, Toronto
425 Bloor Street East, Toronto
6303 Airport Road, Mississauga
195 The West Mall, Toronto
191 The West Mall, Toronto
66.7%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
66.7%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
40.0%
100.0%
100.0%
100.0%
49.9%
100.0%
100.0%
40.0%
49.9%
100.0%
100.0%
66.7%
100.0%
100.0%
49.9%
49.9%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
49.9%
49.9%
1,578,660
655,687
492,743
413,933
352,425
329,725
322,563
309,138
297,878
401,705
265,812
247,743
240,710
238,687
235,915
231,414
540,933
214,042
204,802
177,834
346,919
169,769
165,012
411,842
326,389
162,792
161,634
242,287
157,852
154,400
300,864
297,292
147,272
142,487
124,523
121,593
111,840
101,420
100,797
95,855
92,762
90,779
87,161
83,528
80,325
160,812
158,260
1,052,493
655,687
492,743
413,933
352,425
329,725
322,563
309,138
297,878
267,817
265,812
247,743
240,710
238,687
235,915
231,414
216,373
214,042
204,802
177,834
173,113
169,769
165,012
164,737
162,868
162,792
161,634
161,533
157,852
154,400
150,131
148,349
147,272
142,487
124,523
121,593
111,840
101,420
100,797
95,855
92,762
90,779
87,161
83,528
80,325
80,245
78,972
1989
1982
1983
1958
1987
1983
1992
1992
1990
1951
1958
1989
1975
1981
2002
1967
1974
1875
1991
1981
1987
1978
1989
1985
1973
1989
1926
1989
1965
1990
1989
1989
1914
1984
1992
1983
1980
1925
1977
1973
2006
1975
1952
1986
1979
1984
1985
Year
Renovated
2002/2003
2002
2004
2001
2011
2001
2001
2011
1968/2011
1986
2005
2008/2009
2008/2009
2004
2007
2009/2011
2006
2006/2008
2007/2008
1999
2007
2007
3
Total Site
Area
Owned Share
of Site Area
in Acres
in Acres
0.3
0.4
5.1
0.6
0.6
2.3
0.5
0.2
0.8
0.3
2.6
0.9
2.2
2.0
36.9
0.3
0.4
5.1
0.6
0.6
2.3
0.5
0.2
0.8
0.3
2.6
0.9
2.2
0.3
32.7
11-storey downtown office building
7-storey downtown office building
3-storey suburban office building
5-storey suburban office buidling with grade retail
6-storey downtown office building
4-storey suburban office building
6-storey downtown office building
10-storey downtown office building
One 5-storey and two 2-storey suburban office buildings
6-storey suburban office building
2-storey suburban office building
3-storey suburban office building
3-storey office building
8-storey suburban office building
2.4
2.1
10.5
1.3
9.8
12.6
0.7
1.0
1.3
0.6
0.4
0.6
4.0
1.8
1.8
0.5
2.8
0.5
5.4
6.8
2.1
0.9
6.3
4.6
4.5
5.8
0.4
0.4
0.4
16.6
0.9
9.3
0.2
6.6
1.1
0.6
9.2
0.2
0.6
0.7
5.5
2.1
3.7
0.6
1.8
5.1
5.0
1.6
2.1
10.5
1.3
9.8
12.6
0.7
1.0
1.3
0.4
0.4
0.6
4.0
1.8
1.8
0.5
1.1
0.5
5.4
6.8
1.0
0.9
6.3
1.8
2.2
5.8
0.4
0.3
0.4
16.6
0.5
4.6
0.2
6.6
1.1
0.6
9.2
0.2
0.6
0.7
5.5
2.1
3.7
0.6
1.8
2.5
2.5
68-storey, 5-storey and 3-storey downtown office buildings with below grade retail concourse
One 22-storey and one 20-storey downtown office buildings
11-storey suburban office building
17-storey downtown office building
3-storey, 2-storey, and 7-storey suburban office complex
6-storey and 7-storey suburban office buildings, 1-storey and 2-storey flex buildings
20-storey downtown office building
20-storey office building
17-storey downtown office building
26-storey downtown office building
10-storey commercial office building
11-storey downtown office building
3-storey downtown office/retail building
10-storey downtown office building
14-storey office building with ground floor podium and below grade retail
18-storey downtown office building
One 21-storey and one 23-storey downtown office buildings
13-storey downtown office building
13-storey suburban office building
3-storey suburban office complex
15-storey suburban office building with retail space
11-storey downtown office building
8-storey suburban office building
Two 11-storey suburban office buildings
9-storey and two 6-storey suburban office buildings
10-storey suburban office building
One 16-storey and one 11-storey downtown office buildings
17-storey downtown office building
15-storey commercial office building
9-storey suburban office building
16-storey suburban office buildings with retail space
16-storey suburban office building
21-storey downtown office building
2-storey suburban office building with warehouse
12-storey downtown office building
8-storey downtown office building
2-storey suburban data centre
20-storey downtown office building
6-storey downtown office building with underground parking
12-storey downtown office building
3-storey office building
7-storey suburban office building
1-storey industrial building
5-storey downtown office building
5-storey suburban office building
11-storey suburban office building
11-storey suburban office building
Description of Asset
Property
Ownership
Total GLA
Owned Share of
Total GLA
in Square Feet
in Square Feet
Year
Built
Year
Renovated
2011
1980
Total Site
Area
Owned Share
of Site Area
in Acres
in Acres
Description of Asset
2.6
0.4
5.3
0.2
2.9
0.1
0.1
0.1
4.9
0.2
3.6
0.1
1.1
7.6
0.1
3.8
6.5
1.1
0.1
2.4
0.9
205.8
2.6
0.4
2.6
0.2
2.9
0.1
0.1
0.1
4.9
0.2
3.6
0.1
0.4
3.0
0.1
1.5
2.6
0.4
0.0
2.4
0.9
172.1
2-storey suburban office building
6-storey downtown historical office building
8-storey suburban office building with grade level retail
10-storey downtown office building
2-storey suburban office building
10-storey downtown office building
14-storey downtown office building
13-storey downtown office building
2-storey suburban office building
7-storey downtown office building
1-storey office building with parking
12-storey downtown office building
7-storey downtown office building
1-storey suburban office building
10-storey downtown office building
5-storey suburban office building
1-storey suburban office building
2-storey suburban office building
7-storey downtown office building
1-storey suburban office building
1-storey retail restaurant building
1.6
16.5
0.4
5.4
10.0
0.5
7.1
0.4
0.5
6.0
7.0
0.2
4.3
0.3
1.0
1.4
1.8
0.3
2.8
4.2
2.7
0.3
1.3
1.6
1.6
8.3
0.2
3.7
4.2
0.6
96.1
1.6
16.5
0.4
5.4
10.0
0.5
7.1
0.4
0.5
6.0
7.0
0.2
4.3
0.3
1.0
1.4
1.8
0.1
2.8
4.2
2.7
0.3
1.3
1.6
1.3
4.1
0.2
1.5
1.5
0.2
86.2
469.6
408.3
586 Argus Road, Oakville
212 King Street West, Toronto
2810 Matheson Boulevard East, Mississauga
357 Bay Street, Toronto
6509 Airport Road, Mississauga
360 Bay Street, Toronto
10 King Street East, Toronto
350 Bay Street, Toronto
2550 Argentia Road, Mississauga
67 Richmond Street West, Toronto
180 Keil Drive South, Chatham
366 Bay Street, Toronto
49 Ontario Street, Toronto
6501 Mississauga Road, Mississauga
56 Temperance Street, Toronto
2010 Winston Park Drive, Oakville
6531 Mississauga Road, Mississauga
80 Whitehall Drive, Markham
10 Lower Spadina Avenue, Toronto
3035 Orlando Drive, Mississauga
70 King Street East, Kitchener
Greater Toronto Area2
100.0%
100.0%
49.9%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
40.0%
40.0%
100.0%
40.0%
40.0%
40.0%
40.0%
100.0%
100.0%
82.0%
74,570
73,277
135,384
63,417
60,000
57,642
57,052
52,782
51,639
44,996
36,927
36,371
87,105
85,025
32,239
79,137
71,192
60,805
60,255
16,754
9,485
13,594,869
74,570
73,277
67,557
63,417
60,000
57,642
57,052
52,782
51,639
44,996
36,927
36,371
34,842
34,010
32,239
31,655
28,477
24,322
24,102
16,754
9,485
11,151,599
1992
1908
1989
1921
1981
1955
1965
1928
1987
1940
2005
1959
1972
1982
1984
1990
1978
1990
1988
1991
1977
700 De la Gauchetière Street West, Montréal
445 Opus Industrial Boulevard, Mount Juliet, Nashville
200 Chemin Sainte-Foy, Quebec City
2450 Rue Girouard, Saint-Hyacinthe
12800 Foster Street, Overland Park
400 Cumberland Road, Ottawa
2200-2204 Walkley Road, Ottawa
130 Slater Street, Ottawa
900 D'Youville, Quebec City
Gateway Business Park, Ottawa
1125 Innovation Drive, Ottawa
150 Metcalfe Street, Ottawa
22 Varennes Street, Gatineau
360 Laurier Avenue West,Ottawa
580 Rue Grande Allée, Quebec City
250 King Street, Fredericton
277 Pleasant Street, Dartmouth
219 Laurier Avenue West, Ottawa
8550 Newman Boulevard, Montreal
236 Brownlow Avenue, Dartmouth
2625 Queensview Drive, Ottawa
1305 Chemin Sainte-Foy, Quebec City
Seven Capella Court, Ottawa
111 Ilsley Avenue, Dartmouth
700 De la Gauchetière Street West, Montréal
680 Broadway Street, Tillsonburg
141 Saint Jean Street, Quebec City
460 Two Nations Crossing, Fredericton
117 Kearney Lake Road, Halifax
55 Norfolk Street South, Simcoe
Eastern Canada Office/US
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
40.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
79.2%
49.9%
100.0%
40.0%
35.0%
40.0%
95.5%
953,996
717,160
398,351
231,500
185,178
174,322
158,898
122,907
122,671
120,790
115,771
109,237
107,783
107,298
90,875
80,162
76,527
187,910
66,397
60,739
46,156
35,156
31,362
27,428
33,647
47,016
22,333
50,945
36,287
12,887
4,531,689
953,996
717,160
398,351
231,500
185,178
174,322
158,898
122,907
122,671
120,790
115,771
109,237
107,783
107,298
90,875
80,162
76,527
75,164
66,397
60,739
46,156
35,156
31,362
27,428
26,648
23,461
22,333
20,378
12,700
5,155
4,326,503
1983
2010
1970
1959
2006
1972
1985
1968
1956
1987
2000
1991
2001
1966
1912
1999
1971
1965
2001
1987
1983
1957
2002
1983
1983
2003
1920
2008
1994
1987
86.8%
27,932,608
24,246,402
100.0%
52,285
52,285
52,285
52,285
1973
1996
0.6
0.6
0.6
0.6
25.0%
25.0%
25.0%
25.0%
88,219
62,526
154,525
64,114
369,384
22,055
15,632
38,631
16,029
92,347
1981
1979
1983
1978
2001
3.0
1.8
1.0
0.9
6.7
0.8
0.4
0.3
0.2
1.7
28,354,277
24,391,034
476.8
410.5
Total1
Redevelopment Properties:
Bellanca Building, Yellowknife
Redevelopment Properties
Held of Sale Properties:
Riverbend Atrium, Calgary
Stockman Centre, Calgary
10216 - 124th Street, Edmonton
Capital Centre, Edmonton
Held for Sale Properties
Total Including Redeveloped Properties
1
Excludes Redevelopment and Held for Sale Properties
2
Includes Properties in Southwestern Ontario
2008
2010
2007/2009
2010
1987
2006/2009
2008
2009
2003/2010
2005
1967
2000
1988
2010
2005
1991
2003/2010
2000
4
28-storey downtown office building
1-storey industrial building
12-storey office building with parking
Two 5-storey office buildings
5-storey office building with parking
11-storey downtown office building
One 2-storey and one 5-storey suburban office buildings
13-storey downtown office building
One 9-storey and one 8-storey office buildings
Three 6-storey suburban office buildings
One 3-storey and two 2-storey suburban office buildings
22-storey downtown office building
2-storey suburban office building
11-storey downtown office building
6-storey office building with parkade
4-storey office building
5-storey office building with underground parking
14-storey downtown office building
2-storey suburban office building
1-storey suburban office building
2-storey suburban office building
5-storey office building with parking
3-storey suburban office building
3-storey suburban office building
3-level retail podium
1-storey neighbourhood shopping plaza
3-storey office/residential building
3-storey suburban office building
1-storey retail plaza
2-storey office/retail complex
Table 3: Expiring vs Market Rents 1(2013-2017+)
Owned GLA
Region
in Square Feet
11
Western Canada
2
Greater Toronto Area
Total
46
47
48
49
50
Expiring Rent
Monthly
Tenancies
59
Expiring Rent
2013
60
Expiring Rent
2014
61
Expiring Rent
2015
62
Expiring Rent
2016
63
Expiring Rent
2017+
64
$
9.67
$
16.25
$
17.20
$
17.05
$
16.89
$
21.45
3,713,668
$
24.42
$
19.58
$
25.56
$
15.09
$
20.46
$
22.13
11,151,599
$
10.46
$
15.81
$
15.36
$
15.71
$
16.63
$
22.25
4,326,503
$
-
$
13.57
$
14.50
$
16.23
$
16.34
$
12.92
24,246,402
$
10.48
$
16.42
$
17.96
$
16.03
$
17.59
$
19.85
$
15.95
$
17.51
$
18.97
$
18.12
$
20.07
$
19.70
Eastern Canada/US
2
45
5,054,632
Calgary
3
June 30, 2013
2013 Market Rent for Contracted Lease Expiries4
Expiring vs Market Rents 2013-2017+
$30.00
$25.00
$20.00
$15.00
$10.00
$5.00
$-
Expiring Rent
Expiring Rent 2013 Expiring Rent 2014 Expiring Rent 2015 Expiring Rent 2016
Monthly Tenancies
1
Expiring Rents reflect cash rents
Excludes Redevelopment and Held for Sale Properties
Includes Properties in Southewestern Ontario
4
Estimate only, subject to change with market conditions in each market segment, not inflated for future years
2
3
5
Expiring Rent
2017+
Table 4: Average In-Place Rents
Region
Western Canada2
Calgary
Greater Toronto Area
3
Eastern Canada/US
Total
2
June 30, 2013
Owned Share of
Total GLA
Average In Place Net
Rent
Market Rent1
in Square Feet
Total Occupied GLA
per Square Feet
5
6
5,054,632
$
18.10
$
20.56
3,713,668
$
19.67
$
24.85
11,151,599
$
18.43
$
19.63
4,326,503
$
12.28
$
13.21
24,246,402
$
17.43
$
19.44
1
Estimate only, subject to change with market conditions in each market segment, not inflated for future years
2
Excludes Redevelopment and Held for Sale Properties
6
Table 5: Annual Contracted Lease Rollovers (2013-2017+)
Owned Share of
Total GLA
Region
in Square Feet
12
Owned Share
Vacant
13
Owned Share
Monthly
Tenancies
14
June 30, 2013
Owned Share
Expiring
2013
16
Owned Share
Expiring
2014
17
Owned Share Owned Share Owned Share
Expiring
Expiring
Expiring
2015
2016
2017+
19
20
22
Western Canada1
5,054,632
322,272
7,404
264,703
534,632
499,198
865,674
Calgary
3,713,668
216,526
453
177,056
520,264
308,662
887,911
1,602,797
11,151,599
584,537
13,401
412,238
1,107,013
962,598
1,730,443
6,341,368
Greater Toronto Area2
Eastern Canada/US
Total1
2,560,747
4,326,503
121,601
-
91,005
193,596
400,932
208,922
3,310,448
24,246,402
1,244,936
21,258
945,002
2,355,505
2,171,389
3,692,950
13,815,360
100.0%
5.1%
0.1%
3.9%
9.7%
9.0%
15.2%
57.0%
-
-
-
-
-
-
-
-
Annual Contracted Lease Rollovers 2013-2017+ by Region
100%
80%
60%
40%
20%
0%
Owned Share Vacant Owned Share Monthly Owned Share Expiring Owned Share Expiring Owned Share Expiring Owned Share Expiring Owned Share Expiring
Tenancies
2013
2014
2015
2016
2017+
1
2
Excludes Redevelopment and Held for Sale Properties
Includes Properties in Southwestern Ontario
7
Average Remaining Lease Term and Tenant Size by Province
1
Total 1
June 30, 2013
5.30
Total 11
11,363
#DIV/0!
Eastern Canada/USA
8.22
Eastern Canada/USA
18,662
Greater Toronto Area2 2
5.23
2
Greater Toronto Area 2
Calgary
11,163
3.86
Calgary
9,609
1
Western Canada
3.92
Western Canada
0
2
4
6
8
Average Tenant Size in Square Feet
Excludes Redevelopment and Held for Sale Properties
2
9,910
10
Average Remaining Lease Term in Years
1
1
Includes Properties in Southwest Ontario
8
Table 6: Occupancy By Asset
Property
2755 Broadmoor Blvd., Sherwood Park
HSBC Bank Place, Edmonton
Enbridge Place, Edmonton
Saskatoon Square, Saskatoon
Station Tower, Surrey
1900 Sherwood Place, Regina
Milner Building, Edmonton
887 Great Northern Way
Victoria Tower, Regina
Baker Centre, Edmonton
Princeton Tower, Saskatoon
340-450 3rd Avenue N., Saskatoon
HSBC Building, Edmonton
4259-4299 Canada Way, Burnaby
13888 Wireless Way, Richmond
Highfield Place, Edmonton
Scotia Centre, Yellowknife
Richmond Place, Richmond
4400 Dominion Street, Burnaby
2055 Premier Way, Strathcona County
Precambrian Building, Yellowknife
26229 Township Road 531, Parkland County
Northwest Tower, Yellowknife
625 Agnes Street, New Westminster
2899 Broadmoor Boulevard, Strathcona County
2693 Broadmoor Boulevard, Strathcona County
11404 Winterburn Rd NW, Edmonton
1914 Hamilton Street, Regina
2665 Renfrew Street, Vancouver
350-450 Lansdowne Street, Kamloops
2833 Broadmoor Boulevard, Strathcona County
2261 Keating Cross Road, Victoria
Financial Building, Regina
4370 Dominion Street, Burnaby
Preston Centre, Saskatoon
960 Quayside Drive, New Westminster
10199 - 101st Street NW, Edmonton
2220 College Avenue, Regina
Morgex Building, Edmonton
Gallery Building, Yellowknife
16134 - 114th Avenue NW, Edmonton
St. Albert Trail Centre, Edmonton
13183 - 146th St NW, Edmonton
2400 College Avenue, Regina
Royal centre,Saskatoon - Office
Total GLA
Owned Share of
Total GLA
in Square Feet
in Square Feet
366,293
299,488
262,553
228,371
219,094
185,104
173,325
164,364
144,165
143,994
132,702
129,922
118,418
117,971
116,530
104,577
101,440
94,656
92,815
91,596
91,016
89,750
87,647
85,632
82,964
82,499
82,341
82,264
81,662
191,467
76,195
181,545
65,764
63,910
61,850
61,694
121,357
59,590
53,000
50,149
48,542
96,804
38,861
35,528
32,128
366,293
299,488
262,553
228,371
219,094
185,104
173,325
164,364
144,165
143,994
132,702
129,922
118,418
117,971
116,530
104,577
101,440
94,656
92,815
91,596
91,016
89,750
87,647
85,632
82,964
82,499
82,341
82,264
81,662
76,587
76,195
72,618
65,764
63,910
61,850
61,694
60,679
59,590
53,000
50,149
48,542
48,402
38,861
35,528
32,128
9
No. of
Tenants
50
19
5
16
18
7
5
6
2
27
18
6
19
18
2
6
13
8
18
11
8
12
15
13
5
10
16
7
1
30
18
6
3
9
13
13
1
1
1
1
8
1
6
4
2
Average Tenant
Size
Average Lease
Term Remaining
Owned Share
Vacant
in Square Feet
in years
in Square Feet
7,120
14,583
52,511
13,446
11,320
26,443
34,665
27,394
72,083
4,840
6,783
21,654
5,807
5,638
58,265
8,855
6,936
9,994
4,942
8,327
9,646
6,349
5,433
6,427
16,281
7,671
4,901
11,752
81,662
5,471
3,535
23,548
21,921
6,853
4,758
4,608
65,531
59,590
53,000
50,149
5,368
96,804
6,477
8,195
16,064
3.30
2.94
6.88
4.28
4.59
5.31
4.19
5.47
5.11
3.83
3.35
1.82
2.85
2.52
4.81
2.56
0.84
3.57
4.02
3.16
3.14
3.91
4.85
3.66
3.35
2.66
1.97
1.86
7.01
5.92
1.81
2.36
2.54
3.19
6.11
3.01
4.29
3.09
6.25
8.67
1.26
6.42
4.73
2.35
1.91
10,280
22,402
13,242
15,328
13,322
10,610
8,082
16,481
51,450
11,276
14,704
3,864
13,852
13,562
6,149
2,076
1,560
5,790
3,920
10,940
12,574
16,102
2,237
1,793
27,913
5,600
2,747
-
Occupancy %
97.2%
92.5%
100.0%
94.2%
93.0%
100.0%
100.0%
100.0%
100.0%
90.7%
92.0%
100.0%
93.2%
86.0%
100.0%
50.8%
88.9%
84.5%
95.8%
100.0%
84.8%
84.9%
93.0%
97.6%
98.1%
93.0%
95.2%
100.0%
100.0%
85.7%
83.5%
77.8%
100.0%
96.5%
100.0%
97.1%
54.0%
100.0%
100.0%
100.0%
88.5%
100.0%
100.0%
92.3%
100.0%
Property
16104 - 114th Avenue NW, Edmonton
2208 Scarth Street, Regina
Royal centre,Saskatoon - Retail
2445 - 13th Avenue, Regina
234 - 1st Avenue South, Saskatoon
Western Canada
Telus Tower, Calgary
840 - 7th Avenue SW, Calgary
444 Seventh Building, Calgary
McFarlane Tower, Calgary
Life Plaza, Calgary
Rocky Mountain Plaza, Calgary
Franklin Atrium, Calgary
Airport Corporate Centre, Calgary
Northland Building, Calgary
606 Fourth Building & Barclay Parkade, Calgary
Roslyn Building, Calgary
IBM Corporate Park, Calgary
Atrium I, Calgary
Atrium II, Calgary
510 - 5th Street SW, Calgary
Joffre Place, Calgary
Dominion Centre, Calgary
435 - 4th Avenue SW, Calgary
2891 Sunridge Way, Calgary
Kensington House, Calgary
1035 - 7th Avenue SW, Calgary
3115 - 12th Street NE, Calgary
Mount Royal Place, Calgary
441- 5th Avenue SW, Calgary
Braithwaite Boyle Centre, Calgary
9705 Horton Road SW, Calgary
Franklin Building, Calgary
2816 - 11th Street NE, Calgary
Centre 70, Calgary
Parke at Fish Creek, 14505 Bannister Road, S.E., Calgary
Calgary
Scotia Plaza, Toronto
Adelaide Place, Toronto
5915-5935 Airport Road, Mississauga
State Street Financial Centre Toronto
2200-2206, Eglinton Avenue East, Toronto
6655-6725 Airport Road, Mississauga
AIR MILES Tower, Toronto
5001 Yonge Street, Toronto
655 Bay Street, Toronto
Scotia Plaza, Toronto
74 Victoria St/137 Yonge St, Toronto
720 Bay Street, Toronto
Total GLA
Owned Share of
Total GLA
No. of
Average Tenant
Size
Average Lease
Term Remaining
Owned Share
Vacant
in Square Feet
in Square Feet
Tenants
in Square Feet
in years
in Square Feet
28,664
25,310
16,423
16,018
9,567
5,387,519
708,597
268,883
251,931
242,323
236,846
200,631
149,208
148,478
146,600
134,093
131,762
357,202
109,793
109,392
109,302
107,368
99,014
88,737
87,250
77,903
75,129
73,541
59,384
58,651
54,681
54,232
50,577
33,542
132,257
61,224
4,418,531
1,578,660
655,687
492,743
413,933
352,425
329,725
322,563
309,138
297,878
401,705
265,812
247,743
28,664
25,310
16,423
16,018
9,567
5,054,632
354,299
268,883
251,931
242,323
236,846
200,631
149,208
148,478
146,600
134,093
131,762
119,055
109,793
109,392
109,302
107,368
99,014
88,737
87,250
77,903
75,129
73,541
59,384
58,651
54,681
54,232
50,577
33,542
19,839
61,224
3,713,668
1,052,493
655,687
492,743
413,933
352,425
329,725
322,563
309,138
297,878
267,817
265,812
247,743
10
8
4
7
6
6
509
7
24
5
32
37
15
10
11
24
15
15
10
8
16
28
11
6
17
4
16
3
11
18
14
8
18
3
4
38
5
433
63
73
53
9
9
9
20
21
22
1
5
1
3,583
6,328
2,346
1,934
1,595
9,910
100,792
10,704
50,386
6,997
6,230
12,710
14,175
10,164
5,208
8,940
8,784
35,720
13,724
6,286
3,679
8,672
16,502
5,064
21,813
4,742
23,903
4,435
3,181
3,368
6,625
2,443
16,859
5,772
3,189
11,267
9,609
24,836
8,641
8,705
45,993
39,158
36,636
15,955
14,572
13,333
401,705
53,162
247,743
1.87
1.83
3.74
1.86
2.14
3.92
3.25
2.83
3.56
3.20
3.70
8.23
4.68
3.06
2.52
2.67
2.79
5.17
5.40
4.52
3.65
5.83
3.80
3.76
5.30
3.02
4.88
2.24
3.39
2.76
1.90
2.75
2.15
1.68
2.49
6.17
3.86
9.27
4.37
3.33
9.70
3.06
2.95
4.13
4.54
4.78
14.01
7.03
7.51
4,416
322,272
1,526
11,992
18,420
6,346
9,982
7,460
36,677
21,597
8,817
6,304
11,975
2,642
2,029
3,420
24,756
2,128
11,495
1,685
10,267
10,454
1,663
4,891
216,526
9,323
24,915
31,362
3,471
3,117
4,544
-
Occupancy %
100.0%
100.0%
100.0%
72.4%
100.0%
93.6%
99.6%
95.5%
100.0%
92.4%
97.3%
95.0%
95.0%
75.3%
85.3%
100.0%
100.0%
100.0%
100.0%
91.9%
94.2%
88.8%
100.0%
97.0%
100.0%
97.4%
95.4%
66.3%
96.4%
80.4%
96.9%
81.1%
100.0%
68.8%
91.6%
92.0%
94.2%
99.1%
96.2%
93.6%
100.0%
100.0%
100.0%
98.9%
99.0%
98.5%
100.0%
100.0%
100.0%
Property
Market Square, Kitchener
100 Frederick Street, Kitchener
1 Riverside Drive, Windsor
18 King Street East, Toronto
275 Dundas Street West, London
36 Toronto Street, Toronto
2075 Kennedy Road, Toronto
5945-5955 Airport Road, Mississauga
50 Burnhamthorpe Road West, Mississauga
50 Queen Street North, Kitchener
30 Eglinton Avenue West, Mississauga
401 & 405 The West Mall, Toronto
300, 302 & 304 The East Mall, Toronto
625 Cochrane Drive, Markham
330 Bay Street, Toronto
100 Yonge Street, Toronto
20 Toronto St/33 Victoria St, Toronto
Valleywood Corporate Centre, Markham
90 Burnhamthorpe Road West, Mississauga
185 The West Mall, Toronto
8 King Street East, Toronto
2645 Skymark Ave., Mississauga
55 King Street West, Kitchener
250 Dundas Street West, Toronto
100 Gough Road, Markham
Victory Building, Toronto
235 King Street East, Kitchener
22 Frederick Street, Kitchener
Accelerator Building, Waterloo
6299 Airport Road, Mississauga
1020 Birchmount Road, Toronto
425 Bloor Street East, Toronto
6303 Airport Road, Mississauga
195 The West Mall, Toronto
191 The West Mall, Toronto
586 Argus Road, Oakville
212 King Street West, Toronto
2810 Matheson Boulevard East, Mississauga
357 Bay Street, Toronto
6509 Airport Road, Mississauga
360 Bay Street, Toronto
10 King Street East, Toronto
350 Bay Street, Toronto
2550 Argentia Road, Mississauga
67 Richmond Street West, Toronto
180 Keil Drive South, Chatham
366 Bay Street, Toronto
49 Ontario Street, Toronto
6501 Mississauga Road, Mississauga
Total GLA
Owned Share of
Total GLA
No. of
Average Tenant
Size
Average Lease
Term Remaining
Owned Share
Vacant
in Square Feet
in Square Feet
Tenants
in Square Feet
in years
in Square Feet
240,710
238,687
235,915
231,414
540,933
214,042
204,802
177,834
346,919
169,769
165,012
411,842
326,389
162,792
161,634
242,287
157,852
154,400
300,864
297,292
147,272
142,487
124,523
121,593
111,840
101,420
100,797
95,855
92,762
90,779
87,161
83,528
80,325
160,812
158,260
74,570
73,277
135,384
63,417
60,000
57,642
57,052
52,782
51,639
44,996
36,927
36,371
87,105
85,025
240,710
238,687
235,915
231,414
216,373
214,042
204,802
177,834
173,113
169,769
165,012
164,737
162,868
162,792
161,634
161,533
157,852
154,400
150,131
148,349
147,272
142,487
124,523
121,593
111,840
101,420
100,797
95,855
92,762
90,779
87,161
83,528
80,325
80,245
78,972
74,570
73,277
67,557
63,417
60,000
57,642
57,052
52,782
51,639
44,996
36,927
36,371
34,842
34,010
11
19
17
6
25
23
38
10
33
35
14
37
22
27
12
35
14
28
14
22
26
49
2
11
18
1
46
5
15
4
25
1
6
7
1
8
4
10
9
24
1
16
22
10
19
4
1
12
3
26
12,159
13,440
31,726
8,961
21,340
5,530
16,259
5,122
8,813
11,864
3,701
18,518
10,626
13,566
3,851
17,207
5,436
10,859
11,961
11,026
2,879
71,244
8,081
6,755
111,840
2,067
16,634
5,223
23,191
3,311
55,000
10,496
10,124
160,812
18,467
17,641
7,328
13,287
2,053
60,000
3,455
2,593
3,611
2,379
10,552
36,927
2,659
29,035
3,116
4.08
2.90
8.68
3.60
3.93
4.52
2.48
2.82
4.53
2.79
3.66
4.61
4.12
5.25
3.33
7.42
4.43
4.56
5.17
4.84
3.56
1.00
4.20
4.15
3.17
3.53
0.47
2.17
8.92
4.49
2.59
3.37
7.38
7.51
5.89
4.01
4.57
7.23
2.01
7.51
3.29
2.50
3.51
3.22
(5.05)
4.84
3.66
4.24
3.22
9,682
10,212
45,562
7,381
20,048
3,905
42,209
8,812
19,192
3,669
28,057
1,780
19,705
26,845
929
5,632
2,377
18,825
5,298
6,200
35,629
6,325
17,625
17,517
8,001
32,161
20,553
9,460
5,253
4,006
7,883
14,150
2,368
16,671
6,442
2,790
4,461
1,600
Occupancy %
96.0%
95.7%
80.7%
96.8%
90.7%
98.2%
79.4%
95.0%
88.9%
97.8%
83.0%
98.9%
87.9%
100.0%
83.4%
99.4%
96.4%
98.5%
87.5%
96.4%
95.8%
100.0%
71.4%
100.0%
100.0%
93.8%
82.5%
81.7%
100.0%
91.2%
63.1%
75.4%
88.2%
100.0%
93.3%
94.6%
100.0%
88.3%
77.7%
100.0%
95.9%
100.0%
68.4%
87.5%
93.8%
100.0%
87.7%
100.0%
95.3%
Total GLA
Owned Share of
Total GLA
No. of
Average Tenant
Size
Average Lease
Term Remaining
Owned Share
Vacant
Property
in Square Feet
in Square Feet
Tenants
in Square Feet
in years
in Square Feet
56 Temperance Street, Toronto
2010 Winston Park Drive, Oakville
6531 Mississauga Road, Mississauga
80 Whitehall Drive, Markham
10 Lower Spadina Avenue, Toronto
3035 Orlando Drive, Mississauga
70 King Street East, Kitchener
1
Greater Toronto Area
700 De la Gauchetière Street West, Montréal
445 Opus Industrial Boulevard, Nashville
200 Chemin Sainte-Foy, Quebec City
2450 Girouard Street West, Saint-Hyacinthe
12800 Foster Street, Overland Park, Kansas City
400 Cumberland Road, Ottawa
2200-2204 Walkley Road, Ottawa
130 Slater Street, Ottawa
900 D'Youville, Quebec City
Gateway Business Park, Ottawa
1125 Innovation Drive, Ottawa
150 Metcalfe Street, Ottawa
22 Varennes Street, Gatineau
360 Laurier Avenue West,Ottawa
580 Rue Grande Allée, Quebec City
250 King Street, Fredericton
277 Pleasant Street, Dartmouth
219 Laurier Avenue West, Ottawa
8550 Newman Boulevard, Montréal
236 Brownlow Avenue, Dartmouth
2625 Queensview Drive, Ottawa
1305 Chemin Sainte-Foy, Quebec City
Seven Capella Court, Ottawa
111 Ilsley Avenue, Burnside Dr
700 De la Gauchetière Street West, Montréal
680 Broadway Street, Tillsonburg
141 Saint Jean Street, Quebec City
460 Two Nations Crossing, Fredericton
117 Kearney Lake Road, Halifax
55 Norfolk Street South, Simcoe
32,239
79,137
71,192
60,805
60,255
16,754
9,485
13,594,869
953,996
717,160
398,351
231,500
185,178
174,322
158,898
122,907
122,671
120,790
115,771
109,237
107,783
107,298
90,875
80,162
76,527
187,910
66,397
60,739
46,156
35,156
31,362
27,428
33,647
47,016
22,333
50,945
36,287
12,887
32,239
31,655
28,477
24,322
24,102
16,754
9,485
11,151,599
953,996
717,160
398,351
231,500
185,178
174,322
158,898
122,907
122,671
120,790
115,771
109,237
107,783
107,298
90,875
80,162
76,527
75,164
66,397
60,739
46,156
35,156
31,362
27,428
26,648
23,461
22,333
20,378
12,700
5,155
9
10
22
2
6
1
1
1,154
13
1
2
1
1
3
3
27
4
38
4
26
1
7
18
3
5
5
7
2
5
7
1
6
24
4
3
1
13
1
3,582
7,328
2,703
30,403
9,395
16,754
9,485
11,163
70,949
717,160
199,176
231,500
185,178
58,107
52,966
4,368
30,109
3,010
23,291
4,201
107,783
15,328
3,716
26,721
15,085
37,582
8,170
28,809
9,231
3,990
31,362
4,571
986
11,754
7,444
50,945
2,530
12,887
2.67
2.94
2.97
5.76
4.26
8.92
5.79
5.23
7.24
12.76
16.84
12.73
7.42
2.05
4.24
3.97
11.75
2.49
4.75
3.98
4.34
4.61
2.89
6.26
3.36
2.94
1.74
1.36
4.42
9.04
1.83
2.45
4.85
9.36
2.08
15.10
3.59
3.67
2,342
4,694
1,554
584,537
31,663
4,972
2,237
6,392
22,608
23,991
1,100
9,204
3,121
7,223
7,902
1,188
-
100.0%
92.6%
83.5%
100.0%
93.6%
100.0%
100.0%
94.8%
96.7%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
96.0%
98.2%
94.7%
80.5%
100.0%
100.0%
100.0%
73.6%
100.0%
98.6%
100.0%
86.1%
94.9%
100.0%
79.5%
100.0%
100.0%
70.3%
100.0%
100.0%
100.0%
90.6%
100.0%
4,531,689
4,326,503
236
18,662
8.22
121,601
97.2%
27,932,608
24,246,402
2,332
11,363
5.30
1,244,936
94.9%
Eastern Canada/US
Total 2
1
Includes Properties in Southwest Ontario
2
Excludes Redevelopment and Held for Sale Properties
12
Occupancy %
Table 7a: Largest Tenants by GLA
June 30, 2013
Owned Area
Tenant
Government of Canada
in Square Feet
Properties
City
Province
1,658,129
2 Properties
1 Property
1 Property
1 Property
4 Properties
1 Property
4 Properties
3 Properties
4 Properties
3 Properties
5 Properties
1 Property
2 Properties
Yellowknife
Surrey
New Westminster
Burnaby
Saskatoon
Regina
Calgary
Edmonton
Toronto
Kitchener
Ottawa
Gatineau
Dartmouth
Northwest Territories
British Columbia
British Columbia
British Columbia
Saskatchewan
Saskatchewan
Alberta
Alberta
Ontario
Ontario
Ontario
Quebec
Nova Scotia
Bank of Nova Scotia
986,472
1 Property
1 Property
1 Property
2 Properties
5 Properties
1 Property
3 Properties
2 Properties
Yellowknife
Surrey
Calgary
Saskatoon
Toronto
Markham
Mississauga
Kitchener
Northwest Territories
British Columbia
Alberta
Saskatchewan
Ontario
Ontario
Ontario
Ontario
Nissan North America Inc.
717,160
445 Opus Industrial Boulevard
Mount Juliet
Nashville
Government of Quebec
697,830
1 Property
4 Properties
Montreal
Quebec City
Quebec
Quebec
Government of Ontario
685,303
7 Properties
1 Property
1 Property
Toronto
Ottawa
Kitchener
Ontario
Ontario
Ontario
Bell Canada
376,694
Northwest Tower
350-450 Lansdowne
Enbridge Place
Scotia Plaza
Gateway Business Park
700 De la Gauchetiere Street West
Yellowknife
Kamloops
Edmonton
Toronto
Ottawa
Montreal
Northwest Territories
British Columbia
Alberta
Ontario
Ontario
Quebec
Government of Saskatchewan
374,243
6 Properties
340-450 3rd Avenue N
Regina
Saskatoon
Saskatchewan
Saskatchewan
Aviva Canada Inc.
335,900
HSBC Bank Place
2200-2206 Eglinton Avenue East
Edmonton
Toronto
Alberta
Ontario
Government of Alberta
306,159
8 Properties
4 Properties
Calgary
Edmonton
Alberta
Alberta
Telus
287,803
2261 Keating Cross Road
Telus Tower
Victoria
Calgary
British Columbia
Alberta
Government of British Columbia
278,664
Station Tower
2 Properties
4370 Dominion Street
Richmond Place
2261 Keating Cross Road
350-450 Lansdowne
Surrey
New Westminster
Burnaby
Richmond
Victoria
Kamloops
British Columbia
British Columbia
British Columbia
British Columbia
British Columbia
British Columbia
Enbridge Pipelines Inc.
248,577
Enbridge Place
Edmonton
Alberta
State Street Trust Company
244,936
State Street Financial Centre
18 King Street East
Toronto
Toronto
Ontario
Ontario
Intact Financial Corporation
242,070
IBM Corporate Park
2450 Girouard Street West
Calgary
Saint-Hyacinthe
Alberta
Quebec
Winners Merchants International
219,685
1 Property
2 Properties
Toronto
Mississauga
Ontario
Ontario
TD Canada Trust
205,857
Saskatoon Square
1914 Hamilton Street
300, 302 & 304 The East Mall
55 King Street West
275 Dundas Street West
Saskatoon
Regina
Toronto
Kitchener
London
Saskatchewan
Saskatchewan
Ontario
Ontario
Ontario
13
Owned Area
Tenant
in Square Feet
Properties
City
Province
Loyalty Management
194,018
AIR MILES Tower
Toronto
Ontario
SNC-Lavalin Inc.
189,750
1 Property
1 Property
4 Properties
Yellowknife
Calgary
Toronto
Northwest Territories
Alberta
Ontario
U.S. Bank National Association
185,178
12800 Foster Street
Overland Park
Kansas City
AON Canada Inc.
172,996
700 De la Gauchetiere Street West
2010 Winston Park Drive
Montreal
Oakville
Quebec
Ontario
ATCO Group
168,169
Milner Building
Highfield Place
Edmonton
Edmonton
Alberta
Alberta
Dundee Realty Management Corp
156,745
2 Properties
1 Property
1 Property
1 Property
2 Properties
1 Property
6 Properties
1 Property
6 Properties
1 Property
2 Properties
2 Properties
1 Property
1 Property
Yellowknife
Surrey
New Westminster
Richmond
Saskatoon
Regina
Calgary
Edmonton
Toronto
Ottawa
Mississauga
Kitchener
Windsor
Montreal
Northwest Territories
British Columbia
British Columbia
British Columbia
Saskatchewan
Saskatchewan
Alberta
Alberta
Ontario
Ontario
Ontario
Ontario
Ontario
Quebec
The City of Edmonton
151,514
HSBC Bank Place
16104 - 114th Avenue NW
Edmonton
Edmonton
Alberta
Alberta
Miller Thomson
141,133
Princeton Tower
Valleywood Corporate Centre
Accelerator Building
Scotia Plaza
Saskatoon
Markham
Waterloo
Toronto
Saskatchewan
Ontario
Kitchener
Ontario
Borell Management
140,030
Scotia Plaza.
Toronto
Ontario
IBM Canada Ltd.
135,865
IBM Corporate Park
100 Gough Road
5001 Yonge Street
Calagry
Markham
Toronto
Alberta
Ontario
Ontario
Daimler Chrysler Canada Inc.
132,500
1 Riverside Drive
Windsor
Ontario
Stantec Consulting Ltd.
130,101
Station Tower
4370 Dominion Street
Market Square
2261 Keating Cross Road
Surrey
Burnaby
Kitchener
Victoria
British Columbia
British Columbia
Ontario
British Columbia
Government of NW Territories
117,104
3 Properties
Yellowknife
Northwest Territories
Hatch Optima Ltd
110,383
840 - 7th Avenue SW
Calgary
Alberta
International Financial Data
107,490
State Street Financial Centre
Toronto
Ontario
Nautilus Fitness & Raquet Centre
117,893
Market Square
36 Toronto Street
300, 302 & 304 The East Mall
185 The West Mall
74 Victoria Street
100 Yonge Street
Kitchener
Toronto
Toronto
Toronto
Toronto
Toronto
Ontario
Ontario
Ontario
Ontario
Ontario
Ontario
Minacs Worldwide Inc.
103,658
6655-6725 Airport Road
180 Keil Drive South
Mississauga
Chatham
Ontario
Ontario
Government of New Brunswick
100,540
250 King Street
460 Two Nations Crossing
Fredericton
Fredericton
New Brunswick
New Brunswick
Sage Software Canada Ltd.
100,532
13888 Wireless Way
50 Burnhamthrope Road West
Richmond
Mississauga
British Columbia
Ontario
Total
10,521,081
14
Table 7b. Largest Tenants by annualized Gross Rent
June 30, 2013
(Includes all tenants where projected
annualized gross contract rent exceeds CDN $1,000,000)
Rank
Cumulative gross
revenue
Tenant
$2,500,000 or greater
1.
Bank of Nova Scotia
2.
Government of Canada
3.
Government of Ontario
4.
Government of Quebec
5.
Bell Canada
6.
Telus
7.
Enbridge Pipelines Inc.
8.
State Street Trust Company
9.
Government of Saskatchewan
10.
Aviva Canada Inc.
11.
Borell Management
12.
Government of British Columbia
13.
Government of Alberta
14.
Loyalty Management
15.
Miller Thomson
16.
Dundee Realty Management Corp
17.
Winners Merchants Internationa
18.
SNC-Lavalin Inc.
19.
Cassels Brock Blackwell
20.
ATCO Group
21.
Government of NW Territories
22.
Daimler Chrysler Canada Inc.
23.
TD Canada Trust
24.
AON Canada Inc.
25.
The City of Edmonton
26.
International Financial Data S
27.
Penn West Energy Trust
28.
Hatch Optima Ltd
29.
U.S. Bank National Association
30.
Stantec Consulting Ltd.
31.
Nautilus Fitness & Raquet Cent
32.
IBM Canada Ltd.
33.
Nissan North America Inc.
34.
Sage Software Canada Ltd.
35.
Royal Bank of Canada
36.
Intact Financial Corporation
37.
Medcan Health Management Inc.
38.
Co-operators Life Insurance
39.
The Art Institute Of Vancouver
40.
Carswell
41.
Newalta Corporation
42.
Bow Valley College
43.
Bank of Montreal
44.
Great West Life Assurance Co
$
371,062,789
Rank
Between $1,000,000 and $2,499,999:
45.
CIBC
46.
National Bank of Canada
47.
Livingston International Inc.
48.
CB Richard Ellis Limited
49.
BDO Dunwoody
50.
Cenovus Energy
51.
Minacs Worldwide Inc.
52.
Rogers Communication Inc.
53.
MCAP Services Corporation
54.
DBRS
55.
Bereskin & Parr Management
56.
Agence Metropolitaine de Trans
57.
Raymond James Ltd.
58.
Government of New Brunswick
59.
Gemini Corporation
60.
Artumas Group
61.
Maple Leaf Foods
62.
CGI Group
63.
Reg. Municipality of Waterloo
64.
Badenhurst
65.
Delcan Corporation
66.
AMEC Americas Ltd Energy
67.
Cardinia Real Estate Canada In
68.
Visa Canada
69.
Edward D. Jones & Co.
70.
International Civil Aviation O
71.
Transglobe Investment
72.
Conexus Credit Union
73.
Gardiner Roberts
74.
Toronto Central Community Care
75.
CAE Professional Services Inc.
76.
Care Factor Computer Services
77.
Worley Parsons Canada Ltd.
78.
Yellow Pages
79.
Johnson Inc.
80.
Ensign Resource Service Group
81.
HSBC Bank Canada
82.
Sobeys Capital Incorporated
83.
Encana Corporation
84.
Precision Drilling Corp
85.
Air Canada
86.
GCAN Insurance Company
87.
Standard Lands Co Inc.
88.
Flint Energy Services Ltd.
89.
Dutton Brock
90.
Parmalat Canada Inc.
91.
Stewart Weir and Co.
92.
Canadian Western Bank
93.
Wardrop Engineering Inc.
94.
Jacobs Canada Inc.
95.
Inmet Mining Corporation
96.
BHP Billiton Diamonds
97.
IMV Projects Inc.
98.
Family Guidance Group Inc.
99.
Sun Life Assurance Company
100.
Travelex (formerly Thomas Cook)
101.
Conex Rental
102.
Lindt & Sprungli (Canada), Inc
103.
Lafarge Canada Inc.
104.
Smart & Biggar Management
105.
Nordia Inc.
106.
ConAgra Grocery Products Ltd.
107.
Trader Corporation
108.
Connor, Clark & Lunn Financial
109.
Technicolor Creatives Services
All tenants with annualized owned rent in excess of $2,500,000:
Total annualized owned net rental income
$199,421,920
Total annualized owned gross rental income
$371,062,789
Total GLA in square feet (owned share)
11,171,901
Average base rent (PSF)
$17.85
Average recoveries (PSF)
$15.36
Entire owned portfolio:
Total annualized owned net rental income
Total annualized owned gross rental income
Total occupied and committed GLA in square feet
Average base rent (PSF)
Average recoveries (PSF)
Tenant
$400,900,125
$754,407,375
23,001,465
$17.43
$15.37
15
Cumulative gross
revenue
$
97,725,121
Portfolio Tenant Base (by NAICS codes)
52
91
54
51
21
31
56
53
44
Sector
Finance and Insurance
Public Administration
Professional, Scientific and Technical Services
Information and Cultural Industries
Mining and Oil and Gas Extraction
Manufacturing
Administrative & Support,Waste Management & Remediation Services
Real Estate and Rental and Leasing
Retail Trade
Other
Total
June 30, 2013
By GLA
19.2%
18.5%
16.7%
6.2%
6.1%
5.8%
4.7%
3.6%
2.8%
16.4%
100.0%
By Contract Rent
21.4%
17.6%
16.7%
6.0%
7.6%
3.1%
4.4%
4.2%
3.2%
15.8%
100.0%
Other
15.8%
Retail Trade
3.2%
Finance and Insurance
21.4%
Real Estate and Rental and
Leasing
4.2%
Administrative &
Support,Waste
Management &
Remediation Services
4.4%
Manufacturing
3.1%
Public Administration
17.6%
Mining and Oil and Gas
Extraction
7.6%
Information and Cultural
Industries
6.0%
16
Professional, Scientific and
Technical Services
16.7%