new office development

Transcription

NEW OFFICE
DEVELOPMENT
SEPTEMBER 2013 MONTREAL CBD
EXECUTIVE SUMMARY
MONTREAL DOWNTOWN NEW OFFICE DEVELOPMENT
Montreal’s downtown core is experiencing a renaissance in office tower development. There are currently four projects under construction,
with many more in the pre-leasing stage. Of the four under construction, three of those are mixed-use developments in conjunction with
residential condominium projects. The other, Deloitte Tower, is the first market-driven traditional office tower to be constructed in the
downtown core in over 20 years. Several of the most recent developments (which are still more than 10 years old) were developed with
subsidies from the Quebec government. The four towers total 945,000 square feet. One of the buildings will be delivered in the Fall of
2013, one in early 2014, and the other two will not be completed until at least 2015.
Residential construction in the downtown core is also currently at a very high level, with 16 projects with a total of almost 3,500 units.
Only four of those are still in the pre-sales stage. The remainder will all be delivered in the next three years.
As more projects are developed in the downtown core, the number of surface parking lots has diminished considerably. All projects are
incorporating some parking into the developments, but mainly for tenants. At least four surface lots have been re-developed in the last
three years downtown, many in proximity to the Bell Centre, which is home to the Montreal Canadiens and numerous events.
The Ville-Marie borough, which contains the downtown core, has witnessed population growth of 14.0% between 2007 and 2012,
according to PCensus estimates, and a further 12.8% growth is anticipated between 2012 and 2017. These levels are almost double the
growth rate for the Montreal Area as a whole.
This confluence of downtown office development, urban high-rise residential, and a renewed emphasis on public transit is a rising trend.
This trend is true not only in Montreal, but also in all of Canada’s major urban centres and a growing number of U.S. cities.
2 NEW OFFICE D EVELOPM ENT | SEP T EMBE R 2013 MO NT R E AL C BD
DOWNTOWN OFFICE REFERENCE MAP
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N E W O F F I C E D E V E LO PM E N T | S E PT E M B E R 2 0 1 3 M ONTREA L CB D
3
DOWNTOWN OFFICE REFERENCE CHART
MONTREAL DOWNTOWN | Under Construction / Future Office Developments
Building Name
Available Office SF
Average Floor SF
Total SF
1
TOUR AIMIA
136,098
23,000
234,476
2
TOUR DELOITTE
146,974
23,500
495,067
3
L’AVENUE
140,000
20,000
140,000
4
DISTRICT GRIFFIN ÎLOT 10 - 100 PEEL STREET
1,688
16,000
74,000
5
900 DE MAISONNEUVE BOULEVARD WEST
455,315
23,800
455,315
6
PLACE DE LA CITÉ INTERNATIONALE - PHASE 2
775,000
25,000
775,000
7
140,000
14,000
140,000
8
1201 - 1215 PHILLIPS SQUARE
700,000
28,000
700,000
9
SAINTE-CATHERINE STREET #1
825,000
27,500
825,000
10
330,000
30,000
330,000
11
620 SAINT-PAUL STREET WEST
49,000
8,200
49,000
12
PLACE UNIVERSITY ST-JACQUES - 701 UNIVERSITY STREET
769,770
11,000 - 50,000
769,770
13
633,963
31,000
633,963
14
350,000
12,000
350,000
Source: CBRE Limited
4
CENTRAL STATION
Photo: www.wikipapia.org
Photo: www.montrealphotodaily.blogspot.com
Type:
Inter-city, commuter rail hub
Total Annual
Ridership:
18 million
Status:
Capacity
CENTRAL STATION
Downtown Montreal is serviced by a wide variety of public transportation options, including the Metro subway system, the AMT commuter train
system and the commuter bus lines, in addition to the local bus lines and Bixi bike network. These systems bring people to downtown from the
suburban regions, including the North Shore, Laval and the South Shore markets.
Central Station (Gare Centrale) is the major inter-city rail station and a major commuter rail hub in Montreal. Approximately 18 million rail passengers
use the station each year. Central Station is at the center of the Quebec City – Windsor Corridor, the busiest inter-city rail service area in Canada,
which extends from Windsor, through Toronto, Ottawa, and Montreal, to Quebec City. Central Station is the second-busiest Via Rail station in Canada,
after Toronto Union Station.
Inter-city trains at Central Station are operated by Via Rail and Amtrak, while commuter rail services are operated by Agence métropolitaine de
transport (AMT). The station is also connected to the subway system and the underground network.
Station Lucien l’Allier is the other AMT train station downtown, with a direct connection to the Bell Centre and the Lucien l’Allier metro station.
The AMT (L’Agence métropolitaine de transport) operates the « Terminus Centre-Ville » which is a bus terminus located under the office building
1000 de La Gauchetière Street West. It is connected to the Montreal underground Network with links to Bonaventure metro station on the Orange
Line, Central Station, the Lucien-L’Allier train station as well as the Lucien-L’Allier metro station. The terminus has 21 gates.
5
TOUR AIMIA
Class:
Size:
Floors:
A
234,476 SF
10
Available Space: 136,098 SF
% Leased:
Average Floor:
Completion:
Status:
LEED Status:
Developer:
41.9%
23,000 SF
1Q 2014
Under Construction
Registered LEED Gold
Kevric Real Estate Corporation
www.kevric.ca
Owner:
Underground
Connection:
Kevric Real Estate Corporation
Tenant:
AIMIA (98,378 SF)
Yes
Photo: Kevric Real Estate Corporation
TOUR AIMIA
This 35 storey mixed use development has ten floors of prestige office space with 25 floors of residential condos above. The project will have
separate entrances for the office and residential components. The building will have a direct connection to the Square Victoria metro station.
6
TOUR DELOITTE
Class:
Size:
Floors:
A
495,067 SF
26
% Leased:
Average Floor:
Completion:
Status:
LEED Status:
Developer:
Owner:
Underground
Connection:
Tenant:
70.3%
23,500 SF
2015
Under Construction
Registered LEED Platinum
Cadillac Fairview Corporation
www.cadillacfairview.com
Cadillac Fairview Corporation
Yes
Deloitte (158,093 SF)
Rio Tinto Alcan (190,000 SF)
Photo: Cadillac Fairview
TOUR DELOITTE
The city’s first, new, privately-owned and financed commercial office tower to be built in more than 20 years. Located between the Montreal
landmarks of the Bell Centre and historic Windsor Station. Direct connection to the underground network.
L’AVENUE
Class:
Size:
Floors:
A
140,000 SF
8
% Leased:
Average Floor:
Completion:
Status:
LEED Status:
Developer:
0%
20,000 SF
2015
Under Construction
Registered LEED Gold
Broccolini/Carttera Private Equities
www.broccolini.com
Owner:
Underground
Connection:
Broccolini/Carttera
Tenant:
None
No
Photo: Broccolini Construction
L’AVENUE
50 storey mixed use development with eight floors of office space at the bottom. Directly across the street from the Bell Centre. Separate and
unique lobbies for the office and residential uses.
8
DISTRICT GRIFFIN - ÎLOT 10 - 100 PEEL STREET
Class:
Size:
Floors:
A
74,000 SF
6
Photo: Devimco
% Leased:
Average Floor:
Completion:
Status:
LEED Status:
97.7%
16,000 SF
Developer:
Devimco
Owner:
Underground
Connection:
Devimco
Tenant:
Undisclosed
3Q 2013
Under Construction
TBD
No
DISTRICT GRIFFIN - ÎLOT 10
Six floors of office space within a mixed use development, located in a redeveloping Downtown neighbourhood. Part of the Griffintown
redevelopment project.
Class:
Size:
Floors:
A
455,315 SF
27
% Leased:
Average Floor:
Completion:
Status:
LEED Status:
0%
23,800 SF
Developer:
TBD
Owner:
Ivanhoé Cambridge
www.ivanhoecambridge.com
Underground
Connection:
TBD
Tenant:
None
TBD
Pre-leasing
TBD
Photo: Ivanhoe Cambridge
Located at the corner of De Maisonneuve Boulevard West and Mansfield Street, this project will be a 27 floor office tower with seven floors of
above ground parking incoporated into the building.
N E W O F F I C E D E V E LO PM E N T | S E PT E M B E R 2 0 1 3 M O NTREA L CB D
10
Class:
Size:
Floors:
A
775,000 SF
31
% Leased:
Average Floor:
Completion:
Status:
LEED Status:
0%
25,000 SF
Developer:
TBD
Owner:
Westcliff Group of Companies
www.westcliff.ca
Underground
Connection:
TBD
Tenant:
None
Photo: Westcliff
Two office buildings, of 10 and 31storeys, in the heart of the Quartier international de Montréal.
11 NEW OFFICE D EVELOPM E NT | SEP T EMBE R 2013 MO NT R E AL C BD
TBD
Pre-leasing
TBD
Class:
Size:
Floors:
A
140,000 SF
10
% Leased:
Average Floor:
Completion:
Status:
LEED Status:
0%
14,000 SF
Developer:
TBD
Owner:
www.westcliff.ca
Underground
Connection:
TBD
Tenant:
None
TBD
Pre-leasing
TBD
Photo: Westcliff
Two office buildings, of 10 and 31storeys, in the heart of the Quartier international de Montréal.
12
Class:
Size:
Floors:
A
700,000 SF
25
% Leased:
Average Floor:
Completion:
Status:
LEED Status:
0%
28,000 SF
TBD
Pre-leasing
TBD
Developer:
Canderel and Fonds immobilier
de solidarité FTQ
www.canderel.com
Owner:
de solidarité FTQ
Underground
Connection:
Yes
Tenant:
None
Photo: Canderel
An office tower with a 10-storey lower extension (basilaire), with commercial space, on rue du Square-Phillips just south of Sainte-Catherine
Street West. Landscaping and a green roof are also planned.
13
Class:
Size:
Floors:
A
825,000 SF
31
% Leased:
Average Floor:
Completion:
Status:
LEED Status:
0%
27,500 SF
TBD
Pre-leasing
LEED Certified
Developer:
de solidarité FTQ
www.canderel.com
Owner:
de solidarité FTQ
Underground
Connection:
TBD
Tenant:
None
Photo: Canderel
Located in the Quartier des Spectacles distrcit just east of the downtown core. Commercial space on the ground floor.
Class:
Size:
Floors:
A
330,000 SF
12
% Leased:
Average Floor:
Completion:
Status:
LEED Status:
0%
30,000 SF
TBD
Pre-leasing
LEED Certified
Developer:
de solidarité FTQ
www.canderel.com
Owner:
de solidarité FTQ
Underground
Connection:
TBD
Tenant:
None
Photo: Canderel
Located in the Quartier des Spectacles distrcit just east of the downtown core. Commercial space on the ground floor.
15
Class:
Size:
Floors:
A
49,000 SF
6
Photo: Asgaard Services Immobilier
% Leased:
Average Floor:
Completion:
Status:
LEED Status:
0%
8,200 SF
Developer:
TBD
Owner:
Groupe Mach
(9167-5355 Quebec Inc.)
www.groupemach.com
Underground
Connection:
No
Tenant:
None
TBD
Pre-leasing
LEED Certified
The building will be located in an up-and-coming area, near the Cité Multimédia. Very close to Square Victoria metro station.
Class:
Size:
Floors:
A
769,770 SF
32
% Leased:
Average Floor:
Completion:
Status:
LEED Status:
0%
11,000 - 50,000 SF
TBD
Pre-leasing
Yes
Developer:
Magil Laurentienne
www.magil-laurentian.com
Owner:
Magil Laurentienne, Desjardins
Financial Security, Weloga
Underground
Connection:
Yes
Tenant:
None
Photo: www.placeuniversitystjacques.com
PLACE UNIVERSITY ST-JACQUES
Five-storey lower level linking the three office buildings, with the ground floor for commercial uses. Indoor courtyard in the centre of the complex,
with a wetland concept design recalling the site’s origins. Green roofs.
17
PLACE UNIVERSITY ST-JACQUES - 700 ST JACQUES
Class:
Size:
Floors:
A
633,963 SF
20
% Leased:
Average Floor:
Completion:
Status:
LEED Status:
0%
31,000 SF
TBD
Pre-leasing
Yes
Developer:
Magil Laurentienne
www.magil-laurentian.com
Owner:
Magil Laurentienne, Desjardins
Financial Security, Weloga
Underground
Connection:
Yes
Tenant:
None
Photo: www.placeuniversitystjacques.com
PLACE UNIVERSITY ST-JACQUES
Five-storey lower level linking the three office buildings, with the ground floor for commercial uses. Indoor courtyard in the centre of the complex,
with a wetland concept design recalling the site’s origins. Green roofs.
Class:
Size:
Floors:
A
350,000 SF
30
% Leased:
Average Floor:
Completion:
Status:
LEED Status:
0%
12,000 SF
Developer:
TBD
Owner:
www.westcliff.ca
Underground
Connection:
TBD
Tenant:
None
Located on the corner of Maisonneuve Boulevard West and Aylmer Street, just east of the Hudson’s Bay store.
TBD
Pre-leasing
TBD
MULTI-HOUSING REFERENCE MAP
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#
Status
Submarket Development
Builder
# Units
Occupancy
Developpement Northcliffe et Olymbec
120
3Q 2014
1
Underway DT East
2
Underway Central Core Altitude - 1195 Rue University
Le Groupe Daca
192
2Q 2013
3
Underway DT East
Altoria - Beaver Hall et Viger
Kevric
152
2Q 2014
4
Underway DT West
Flex Condos - 1235 Rue Bishop
Belcourt Condos
214
2Q 2014
5
Underway DT West
L’Avenue - 1001 Rue de la Montagne et Ave-des-Canadiens
Broccolini et Carttera
350
4Q 2015
6
Underway Central Core Le Triomphe - 2061 Rue Stanley
Developpements Domaine
112
2014
7
Underway DT East
Le U - Phase 3 - 470 Rue de la Gauchetière
Federico Bizzzotto
80
TBD
8
Underway DT West
ORO / Tour du musée - 1400 Rue Sherbrooke
Groupe Maxera
40
2014
9
Underway DT West
Roccabella Phase 1 - 1300 boul René Lévesque at de la Montagne
MC Finance
516
4Q 2015
10
Underway Central Core Tour des Canadiens - avenues des Canadiens
Cadillac Fairview, Canderel
534
2015
11
Underway DT West
Viva Lofts - 1181 Rue Bishop
Cytcorp Group
51
Q3 2013
12 Pre-Selling DT West
ICÔNE Condos - 1175 Rue de la Montagne at René-Lévesque
Le Groupe Essaris
350
2Q 2016
13 Pre-Selling DT East
Rythme Condos - 366 Rue Mayor
Belcourt Condos
90
TBD
14 Pre-Selling Central Core TOM Condos - 1185 Rue University, north of René-Lévesque
Iscanco / Pandev Inc
377
TBD
15 Pre-Selling Central Core Le Drummond - 1210 Rue Stanley
Samcon
190
4Q 2015
16 Pre-Selling DT West
Inca Development
84
TBD
400 Dowd - 400 Rue Dowd
Les Condos Crescent - 1220 Rue Crescent
Source: CBRE Limited
This disclaimer shall apply to CBRE Limited, Brokerage, and all of its real estate agents, and to all other divisions of the Corporation (collectively “CBRE”). The information set out herein (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the
accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may
deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE.
NEW OFFICE DEVELOPMENT
SEPTEMBER 2013 MONTREAL CBD
FOR MORE INFORMATION PLEASE CONTACT:
Alex Sieber
Senior Vice-President & Senior Managing Director
T 514 849 7165
alexandre.sieber@cbre.com
Lynn Johannesson, B.E.S., M.Pl.
Senior Research Analyst
T 514 849 6761
lynn.johannesson@cbre.com
Ross Moore
Director of Research, Canada
T 604 662 5101
ross.moore@cbre.com
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Mapping Sources: Canadian Mapping Services canadamapping@cbre.com; DMTI Spatial, Environics Analytics, Microsoft Bing, Google Earth.

new office development

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