Construction booming around rapid transit stations

Transcription

Rapid Transit Office Index
Vancouver Research | RTI
Q3 2014
Construction booming
around rapid transit stations
• Golder Associates (150,000 square feet), Westport Innovations
(130,000 square feet) and Mountain Equipment Co-op (112,000
square feet) prepare to occupy new transit-oriented buildings in
Vancouver
• Stantec occupies 65,000 square feet in Metrotower III while large
tenants prepare to vacate Burnaby locations not serviced directly by
rapid transit
• Surrey remains a tale of two markets as transit-oriented vacancy is
14.3% lower than buildings further than 500 meters from the nearest
station
• The 137,000 square foot Anvil Centre, which represents a 14.3%
increase in New Westminster transit-oriented supply, was completed
without any pre-lease commitments and resulted in the submarket's
vacancy more than doubling in buildings serviced by the SkyTrain
• Richmond continues to have the lowest transit-oriented vacancy in
all suburban markets serviced by rapid transit
2 JLL • Rapid Transit Office Index • Q3 2014
Table of Contents
Table of Contents
2
Rapid Transit Office Index 3
Market Overview 4
Vancouver
5
Burnaby
6
Surrey
7
New Westminster
8
Richmond
9
Rapid Transit-Oriented Office Developments
About Jones Lang LaSalle (JLL) 10/11
12
JLL• Rapid Transit Office Index • Q3 2014 3
Rapid Transit Office Index
JLL’s Rapid Transit Office Index (RTI) is an in-depth analysis of rapid transit
oriented office vacancy, absorption and occupancy cost trends in suburban
markets that are serviced by rapid transit. This most recent study, the
fifth since Q4 2011, reaffirms that office tenants outside of Downtown
Vancouver continue to focus on office buildings within walking distance
of rapid transit stations when evaluating their real estate requirements.
RTI
ORTI
A significant portion of the 2.8% RTI vacancy increase was due to approximately
773,000 square feet of new rapid transit-oriented office developments being
delivered 58.3% vacant. This abundance of new supply in office buildings within
500 meters of rapid transit stations is in response to the increasing demand
for such product, however the prevalence of speculative developments has
resulted in a significant amount of un-leased space coming to market and a
corresponding increase in overall vacancy.
Despite the rise in transit-oriented vacancy, the fact that 85.0% of new office
supply added to suburban inventory during the last 12 months is situated
within 500 meters of a rapid transit station masks the underlying trend
of 522,369 square feet of positive RTI absorption during that time. When
compared to the 2.5% vacancy increase and comparatively minimal new
construction in buildings not serviced directly by the SkyTrain, it becomes
evident that the transit-oriented vacancy increase is not an indication of
weakening tenant demand. Furthermore, if we were to omit two significant
transit-oriented speculative developments that were recently completed with
combined pre-leasing of 17.8%, Metrotower III in Burnaby and the Anvil Centre
in New Westminster, rapid transit-oriented direct vacancy would have decreased
by 1.6% from one year ago to 5.7%, less than half of the direct vacancy rate
for buildings not serviced directly by rapid transit.
*RTI (Rapid Transit Index) is defined as office space within 500 meters of a rapid transit
station in markets outside of the Downtown Core that are serviced by rapid transit
Total Rapid Transit Index
(RTI)*
Peaking
Market
Falling
Market
Rising
Market
Bottoming
Market
Q3 2014
Q3 2013
Change
Total Vacancy
11.2%
8.4%
+2.8%
Direct Vacancy
10.4%
7.3%
+3.1%
Sublease Vacancy
0.8%
1.1%
-0.3%
Average Asking Net Rate
$23.53
$22.97
+$0.56
Average Additional Rent
$13.62
$13.04
+$0.58
Q3 2014
Q3 2013
Change
12 Month
Outlook
Total RTI Supply: 8,919,421 sq. ft.
Office Supply Outside of
the Rapid Transit Index
(ORTI)**
**ORTI (Outside Rapid Transit Index) is defined as office space more than 500 meters
from a rapid transit station in markets outside of the Downtown Core that are serviced by
rapid transit
Total Vacancy
12.7%
10.2%
+2.5%
Direct Vacancy
12.0%
8.8%
+3.2%
0.7%
1.4%
-0.7%
Note: Buildings with less than 10,000 square feet of office space are not included in the study
$17.77
$17.62
+$0.15
$12.24
$12.02
+$0.22
Sublease Vacancy
Total ORTI Supply: 19,350,851 sq. ft.
12 Month
Outlook
North Vancouver
Rapid Transit Office Index Market Overview
Burrard Inlet
Barnet
E Hastings St
Burnaby
ghe
ed
gla
wa
y
Como Lake Ave
y
Sprott St
Austin Ave
Tran
s
-Ca
nad
aH
wy
oo
Rd
th
na
Ca
y
da
y
Wa
Cambie St
rine
E8
e
Av
Hwy
e
Av
New Westminster
Rumble St
Ma
heed
rib
swa
SE
Loug
Ca
Royal Oak Ave
Willingdon Ave
Knight St
Fraser St
Main St
Oak St
Granville St
gs
King
th
n
Te
Dr
sD
th
iffi
Gr
Marine Way
ve
lA
ya
Ro
120
St
r
Vancouver*
Burnaby
Surrey
New Westminster
Richmond
Wa
y
Hw
North Rd
Kin
Boundary Rd
W King Edward Ave
Imperial St
Legend
rdi
d
Nanaimo St
W 12th Ave
Vancouver
Lou
E Broadway
St Johns St
Ga
rke
R
1
W Broadway
Rd
Hastings St
Cla
English Bay
Richmond
Pe
rim
ete
rR
d
104 Ave
SF
ras
er
91
King George Blvd
Surrey
1A
*excluding downtown
Map not to scale
New Supply Dynamics in Markets Serviced by Rapid Transit (RTI vs. ORTI)
1,200,000
Square Feet
1,000,000
Confirmed
Supply
800,000
RTI
ORTI
600,000
400,000
200,000
-
•
•
•
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
From 2005 to 2011, 74.6% of completed suburban office construction was further than 500 meters from a rapid transit station.
From 2012 to 2016, 89.7% of confirmed new office construction is within 500 meters of a rapid transit station.
Furthermore, 90.2% of proposed office space in the development pipeline is within 500 meters of a rapid transit station.
Vancouver
Golder Associates, Westport Innovations and Mountain Equipment Co-op prepare to occupy new transit-oriented buildings
Vancouver RTI
Q3 2014
Q3 2013
Change
Total Vacancy
4.6%
7.3%
-2.7%
Direct Vacancy
4.5%
6.9%
-2.4%
Sublease Vacancy
0.1%
0.4%
-0.3%
$24.83
$25.34
-$0.51
$15.46
$14.58
+$0.88
Q3 2014
Q3 2013
Change
12 Month
Outlook
•
RTI vacancy declined 2.7% over the past 12 months and is on
par with the vacancy rate in Q2 2012 (4.6%), suggesting that the
spike to 7.3% one year ago was not an indication of softening
demand, but rather reflective of the timing of some relocations that
resulted in significant backfill vacancies.
•
Canadian Border Services Agency (CBSA) occupied all of the office
space (87,000 square feet) in Onni’s Central development at 1611
Main Street adjacent to the Main Street-Science World Station.
•
Although ORTI average asking rates have increased by 10.9% since
Q4 2011, which indicates the overall strength of the submarket, RTI
asking rates are 18.0% higher.
•
Vacancy in buildings located 500-1,000 meters from the nearest
rapid transit station is more than double that of transit-oriented
buildings (11.0%).
•
As Mountain Equipment Co-op prepares to relocate to their new
112,000 square foot head office near VCC-Clark Station at 1077
Great Northern Way, interest in their current 47,000 square foot
ORTI building at 149 West 4th has been strong.
•
Broadway Tech Centre Building 6 near Renfrew Station will be ready
for occupancy in November of this year and is 92.0% pre-leased
to Golder Associates (150,000 square feet) and BCGEU (11,000
square feet). Both companies will be relocating to a transitoriented location from their ORTI offices in Burnaby, and thus will
represent net positive absorption to the Vancouver RTI market upon
occupancy.
•
Westport Innovations is preparing to relocate to approximately
130,000 square feet next to Marine Drive Station in PCI’s Marine
Gateway mixed-use development upon completion in Q1 2015.
•
A rezoning application for Ivanhoé Cambridge and Westbank’s
proposed mixed-use redevelopment at Oakridge was approved in
principle in Q1 2014. Construction on an estimated 300,000 square
feet of new office space next to the Oakridge-41st Avenue Canada
Line Station will commence once all enactment conditions are met.
Total Vancouver RTI Supply: 3,461,183 sq. ft.
Vancouver ORTI
Total Vacancy
5.1%
4.9%
+0.2%
Direct Vacancy
4.7%
4.8%
-0.1%
Sublease Vacancy
0.4%
0.1%
+0.3%
$21.04
$21.09
-$0.05
$14.30
$14.12
+$0.18
Total Vancouver ORTI Supply: 4,437,218 sq. ft.
RTI
ORTI
Peaking
Market
Falling
Market
Rising
Market
Bottoming
Market
12 Month
Outlook
Burnaby
Stantec occupies 65,000 square feet in Metrotower III as Golder Associates and Telus prepare to vacate locations away from rapid transit
•
•
•
•
•
•
•
RTI Vacancy nearly doubled for the second consecutive reporting period
and now sits at 19.0%, more than three times higher than the 5.4% RTI
vacancy rate in Q1 2013.
Despite the significant RTI vacancy rise, asking rates for transit-oriented
buildings increased by 4.8%. In contrast, ORTI asking rates declined by
6.8% and corresponded with a 3.1% ORTI vacancy increase.
ORTI vacancy is expected to increase again in Q4 2014 as Golder
Associates prepares to vacate approximately 110,000 square feet and
relocate to Broadway Tech Building 6 near Renfrew Station. Additionally,
the 71,000 square feet of Telus’ sublease space available at 3777
Kingsway – approximately 54,000 square feet of which is currently
occupied – will become vacant in Q1 2015 as those employees relocate to
Telus Garden in the Downtown Core.
A significant reason for the RTI vacancy rise is the completion of the
411,000 square foot Metrotower III, which was 23.8% preleased to Stantec
and Hemmera. Of the nearly 1.7 million square feet of office space
within 500 meters of Metrotown Station – 95.0% of which is A class –
23.7% is currently vacant compared to 3.5% in Q1 2013.
Burnaby RTI
Q3 2014
Q3 2013
Change
Total Vacancy
19.0%
10.0%
+9.0%
Direct Vacancy
18.5%
9.9%
+8.6%
Sublease Vacancy
0.5%
0.1%
+0.4%
$23.51
$22.43
+$1.08
$12.25
$11.95
+$0.30
Q3 2014
Q3 2013
Change
Total Vacancy
9.8%
6.7%
+3.1%
Direct Vacancy
9.0%
4.9%
+4.1%
Total Burnaby RTI Supply: 2,720,404 sq. ft.
Burnaby ORTI
Sublease Vacancy
0.8%
1.8%
-1.0%
$16.66
$17.87
-$1.21
$13.26
$12.67
+$0.59
12 Month
Outlook
Total Burnaby ORTI Supply: 6,433,600 sq. ft.
RTI
Despite the vacancy rise around Metrotown Station, tenants such as
Rogers Communication (59,900 square feet), International Forest Products
(23,000 square feet) and Commonwealth of Learning (11,000 square feet)
have all signed leases in Metrotower I or II during the past 12 months.
Peaking
Market
Falling
Market
Appia’s Solo District mixed-use development next to Brentwood Town
Centre Station will include 230,000 square feet of office space upon
completion in Q2 2015, 8.7% of which has been pre-leased to CMW
Insurance.
Rising
Market
Bottoming
Market
Phase One of Station Square at Metrotown Station is due to complete in
July 2015 and will include 15,000 square feet of RTI office space in the first
of five towers to be constructed as part of the Anthem Properties/Beedie
Living mixed-use development at 4680 Kingsway.
12 Month
Outlook
ORTI
Surrey
Surrey remains a tale of two markets as transit-oriented vacancy is 14.3% lower than buildings further than 500 meters from the nearest station
Surrey RTI
Q3 2014
Q3 2013
Change
Total Vacancy
7.9%
9.5%
-1.6%
Direct Vacancy
3.3%
3.2%
+0.1%
Sublease Vacancy
4.6%
6.3%
-1.7%
$24.35
$23.37
+$0.98
$12.16
$10.83
+$1.33
12 Month
Outlook
Total Surrey RTI Supply: 1,121,869 sq. ft.
Surrey ORTI
Q3 2014
Q3 2013
Change
Total Vacancy
22.2%*
20.6%
+1.6%
Direct Vacancy
21.5%*
18.9%
+2.6%
Sublease Vacancy
0.7%
1.7%
-1.0%
$17.99
$16.30
+$1.69
$9.92
$10.02
-$0.10
•
than twice as high as the vacancy in Q1 2013 (3.2%) as Coast
Mountain Bus Company has struggled to sublease the majority
of 60,000 square feet in Station Tower next to Gateway Station
that they vacated as part of TransLink’s 2013 consolidation to The
Brewery District in New Westminster.
•
RTI vacancy is 14.3% less than that of ORTI buildings, while
average asking rates for transit-oriented buildings are 35.4%
higher than those without direct access to rapid transit.
•
Coast Capital Savings’ future 113,000 square foot head office in
PCI’s King George Station multi-phase mixed-use development,
which accounts for 65.8% of the office space in Phase A and
approximately 26.5% of the total potential office space, remains
on schedule for Q4 2015 completion. Construction of Phase B,
which will include 160,000 square feet of office space in addition to
230,000 square feet of retail space and 450 residential units, could
commence as early as Q2 2015.
•
The completion of King George Station Phase A in Q4 2015 and
Bosa Properties’ Gateway Place in Q2 2016 will increase transit
oriented office supply in Surrey by 20.7%.
•
SCDC, Century Group and ZGF Cotter Architect’s 3 Civic Plaza
mixed-use development at Surrey Central Station will include
50,000 square feet of office space, 30,000 of which have been
purchased by Kwantlen Polytechnic University for a new campus.
The development is projected to be completed as early as Q4 2016
and will be located at the proposed future intersection of three Light
Rail Transit lines that lead to Guildford, Newton and Langley.
•
*The Surrey ORTI database includes the 700,000 square foot
RCMP E Division building in the Green Timbers site. If this
building were omitted, ORTI vacancy would be 27.2%.
12 Month
Outlook
Total Surrey ORTI Supply: 3,758,817 sq. ft.
RTI
Peaking
Market
Rising
Market
Falling
Market
RTI Vacancy declined by 1.6% over the past year but remains more
Bottoming
Market
ORTI
New Westminster
Transit-oriented vacancy in New Westminster more than doubled as the 137,000 square foot Anvil Centre was delivered vacant
•
•
•
•
•
Demand for office space throughout New Westminster has decreased
since the last reporting period, with the largest year to date
transactions being the renewals of Land Title and Survey Authority of
British Columbia in 88 6th Street for approximately 23,000 square feet
and Speed Shift Media in 601 6th Street for 7,500 square feet.
The vacant delivery of the Anvil Centre at 1 Eighth Street resulted in
a dramatic spike in RTI vacancy from 8.2% to 18.7% as the 137,000
square foot speculative development was completed without any prelease commitments. Excluding the Anvil Centre, RTI vacancy would
currently be 7.6%.
In the wake of the 2013 completion of the Brewery District and recent
delivery of the Anvil Centre, average asking rates for transit-oriented
office space have increased from $16.47 in Q1 2013 to the current
average of $21.98, an increase of 33.5% that can be attributed to
the influx of new class A supply.
The combination of new RTI class A inventory and modest demand
from new tenants has resulted in downward pressure on ORTI class A
asking rates, which have declined by 7.0% since Q3 2013 but remain
47.2% higher than class B ORTI buildings. This substantial disparity is
not limited to the ORTI market, however, as class A RTI asking rates
are 67.8% higher than those in class B RTI buildings.
Building 3 in the Brewery District, all 27,000 square feet of which will be
occupied by the Health Sciences Association, is currently undergoing
tenant improvements and will be ready for occupancy in Q1 2015.
New Westminster RTI
Q3 2014
Q3 2013
Change
Total Vacancy
18.7%
8.2%
+10.5%
Direct Vacancy
18.7%
8.2%
+10.5%
Sublease Vacancy
0.0%
0.0%
0.0%
$21.98
$20.43
+$1.55
$13.62
$12.55
+$1.07
12 Month
Outlook
Total New Westminster RTI Supply: 1,141,232 sq. ft.
New Westminster ORTI
Q3 2014
Q3 2013
Change
Total Vacancy
10.2%
11.0%
-0.8%
Direct Vacancy
10.2%
11.0%
-0.8%
Sublease Vacancy
0.0%
0.0%
0.0%
$17.63
$16.86
+$0.77
$13.07
$12.51
+$0.56
Total New Westminster ORTI Supply: 591,687 sq. ft.
RTI
Peaking
Market
Falling
Market
Rising
Market
Bottoming
Market
ORTI
12 Month
Outlook
Richmond
Richmond continues to have the lowest transit-oriented vacancy in all suburban markets serviced by rapid transit
Richmond RTI
Q3 2014
Q3 2013
Change
Total Vacancy
4.6%
5.3%
-0.07%
Direct Vacancy
4.6%
5.3%
-0.07%
Sublease Vacancy
0.0%
0.0%
0.0%
$16.07
$15.50
+$0.57
$12.03
$11.68
+$0.35
12 Month
Outlook
•
Richmond has the lowest RTI vacancy rate of all submarkets
serviced by rapid transit for the second consecutive reporting
period.
•
In a stark contrast to the 4.6% vacancy rate for buildings within
500 meters of the nearest Canada Line station, vacancy in office
buildings located between 500-1,000 meters from the nearest
station is almost six times higher at 27.5%.
•
Although Richmond’s major off-transit business parks have seen
some activity since the last reporting period, there are still large
blocks of vacancy (26.8% in Crestwood Business Park, 30.9% in
Richmond Corporate Park and 8.8% in Airport Executive Park)
that create the bulk of Richmond’s 17.1% ORTI vacancy rate.
•
Notable recent ORTI activity included the consolidation of Conseil
Scolaire Francophone De La Colombie-Britannique, which moved
into 24,500 square feet in Crestwood Business Park Building 3
in July as they combined their New Westminster and Richmond
offices, and Industry Training Authority’s 15,000 square foot
expansion to 27,000 square feet in Richmond Place (8100
Granville Street), leaving the 90,000 square foot building with no
remaining vacancy.
•
UEM Sunrise’s Quintet mixed-use project near Landsdowne
Station doesn’t have an office component but will include an
approximately 24,000 square foot Trinity Western University
campus and a 33,000 square foot community centre upon
estimated completion in Q2 2015. The international developer
also acquired a nearly 5 acre adjacent development site for $69
million in Q2 2014, although redevelopment plans have yet to be
determined.
Total Richmond RTI Supply: 474,733 sq. ft.
Richmond ORTI
Q3 2014
Q3 2013
Change
Total Vacancy
17.1%
14.3%
+2.8%
Direct Vacancy
16.2%
12.2%
+4.0%
Sublease Vacancy
0.9%
2.1%
-1.2%
$15.80
$14.99
+$0.81
$10.43
$9.28
+$1.15
12 Month
Outlook
Total Richmond ORTI Supply: 4,129,529 sq. ft.
RTI
ORTI
Peaking
Market
Falling
Market
Rising
Market
Bottoming
Market
Despite a 0.4% vacancy increase over the last 12 months,
Rapid Transit-Oriented Office Developments
1
2
3
4
Main Street-Science
World Station
Main Street-Science
World Station
VCC-Clark Station
VCC-Clark Station
5
6
7
8
Renfrew Station
Renfrew Station
Renfrew Station
Olympic Village Station
9
Olympic Village Station
13
10
Oakridge-41st Station
14
11
Marine Drive Station
15
Metrotown Station
Brentwood Town Centre
Brentwood Town Centre
17
18
19
Surrey Central Station
21
King George Station
25
Bridgeport Station
Surrey Central Station
22
King George Station
23
Sapperton Station
Braid Station
26
27
Bridgeport Station
Bridgeport Station
12
Metrotown Station
16
Gateway Station
20
King George Station
24
Lansdowne Station
28
Templeton Station
Vancouver
1.
Containers Phase II (Proposed)
468 Terminal Avenue
140,000 sq. ft.
Developer: Rize Alliance
2.
306-320 Terminal (Proposed)
28,500 sq. ft.
Developer: Medica Devices
3.
1077 Great Northern Way (Under Construction)
112,000 sq. ft. (100% pre-leased to MEC)
Projected Completion Date: Q4 2014
Developers: Investors Group & Mountain Equipment
Co-op
4.
1980 Foley Street (Proposed)
400,000 sq. ft. (2 Buildings)
Developer: Discovery Parks Canada
5.
Renfrew Business Centre Phase II
(Under Construction)
2665 Renfrew Street
161,100 sq. ft. (0% pre-leased)
Developers: Blackwood Partners & AIMCo
6.
Broadway Tech Centre Building 6
175,000 sq. ft.
(92% pre-leased to Golder Associates and BCGEU)
Developer: Bentall Kennedy
7.
3030 East Broadway (Proposed)
Up to 900,000 sq. ft. (5 Buildings)
8.
South Creek Plaza (Proposed)
West 2nd Avenue and Alberta Street
60,000 sq. ft.
Developer: Port Capital Development
9.
380 West 5th Avenue (Proposed)
49,050 sq. ft.
Developer: Cressey Development
10. Oakridge Centre (Proposed)
West 41st Avenue and Cambie Street
Up to 300,000 sq. ft. expansion
Developers: Ivanhoé Cambridge &
Westbank Development
11. Marine Gateway (Under Construction)
450 SW Marine Drive
249,000 sq. ft. (54% pre-leased to Westport Innovations)
Developers: PCI Group & Triovest
Burnaby
12. Station Square (Under Construction)
4680 Kingsway
15,050 sq. ft. (34.1% pre-leased)
Developers: Anthem Properties &
Beedie Living
13. Mixed-Use Development (Proposed)
4750 Kingsway
Office Space TBD (2 Office Towers)
Developer: Sears Canada
14. SOLO District (Under Construction)
2025 Willingdon Avenue
230,000 sq. ft.
(8.7% pre-leased to CMW Insurance)
Developer: Appia Group
15. The Amazing Brentwood (Proposed)
4567 Lougheed Highway
Office Space TBD
Developer: Shape Properties
Surrey
16. Gateway Place (Under Construction)
13479 108th Avenue
61,300 sq. ft. (0% pre-leased)
Developer: Bosa Properties
17. 3 Civic Plaza (Under Construction)
50,000 sq. ft. (60% sold to Kwantlen
Polytechnic University)
Developers: SCDC, Century Group & ZGF
Cotter Architects
18. 104th Avenue and City Parkway (Proposed)
175,000 sq. ft.
Developers: SCDC & Bosa Properties
19. King George Station (Under Construction)
Up to 470,000 sq. ft. (3 Buildings)
(26.6% pre-leased to Coast Capital Savings)
Projected Completion Date (Phase A): Q4 2015
Developer: PCI Group & Triovest
20. 9677-9681 King George Boulevard
(Proposed)
177,500 sq. ft.
Developer: The Circadian Group
21. Holland Pointe (Proposed)
98A Avenue and King George Blvd.
Office Space TBD
Developer: Century Group
New Westminster
Richmond
22. Brewery District - Building 3
East Columbia and Brunette Avenue
27,000 sq. ft. (100% pre-leased to Health
Sciences Association)
Developer: Wesgroup Properties
24. Quintet (Under Construction)
5333 & 5411 No. 2 Road & 7960 Alderbridge
Way
24,000 sq. ft. (100% pre-leased to Trinity
Western University)
Developer: UEM Sunrise
23. Sapperton Green (Proposed)
1010 Braid Street
Up to 400,000 sq. ft.
25. Ampri International Gateway Centre
(Proposed)
Hwy 99, Beckwith Road & Bridgeport Road
125,000 sq. ft.
Developer: Ampar Ventures Ltd.
26. Vancouver International Plaza (Proposed)
Duck Island
Up to 1,100,000 sq. ft.
Developer: Jingon International Development
Group
27. Global Education City (Proposed)
100,000 sq. ft.
Developers: New Continental Properties &
CIBT Education Group
28. Sea Island Business Park (Proposed)
Up to 800,000 sq. ft.
Developer: Vancouver Airport Authority
Vancouver Research
Jones Lang LaSalle (JLL) Real Estate Services, Inc.
21st Floor, 400 Burrard Street
Vancouver, BC V6C 3A6
Tel: +1 604 998 6001
Fax: +1 604 998 6018
Ray Ahrens*
Executive Vice President
Office +1 604 998 6002
Cell +1 604 418 2790
ray.ahrens@am.jll.com
Gavin Reynolds*
Senior Vice President
Office +1 604 998 6009
Cell +1 604 760 6447
gavin.reynolds@am.jll.com
Mark Chambers*
Executive Vice President
Office +1 604 998 6005
mark.chambers@am.jll.com
Scott MacDonald
Sales Associate
Office +1 604 998 6020
Cell +1 604 440 4969
scott.macdonald@am.jll.com
Ronan Pigott
Associate
Office +1 604 998 6004
Cell +1 604 360 8445
ronan.pigott@am.jll.com
Brodie Cain
Research Associate
Office +1 604 998 6143
brodie.cain@am.jll.com
Andrew Laurie
Senior Associate
Office +1 604 998 6008
Cell +1 604 329 1122
andrew.laurie@am.jll.com
About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value
by owning, occupying and investing in real estate. With annual fee revenue of $4.0 billion and gross revenue of $4.5 billion, JLL has more than 200
corporate offices, operates in 75 countries and has a global workforce of approximately 53,000. On behalf of its clients, the firm provides management
and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in
sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $50.0 billion of real
estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit
www.jll.ca.
About JLL Research
JLL’s research team delivers intelligence, analysis, and insight through market-leading reports and services that illuminate today’s commercial real
estate dynamics and identify tomorrow’s challenges and opportunities. Our 415 professional researchers track and analyze economic and property
trends and forecast future conditions in over 75 countries, producing unrivalled local and global perspectives. Our research and expertise, fueled by
real-time information and innovative thinking around the world, creates a competitive advantage for our clients and drives successful strategies and
optimal real estate decisions.For further information, visit www.jll.ca/research.
jll.ca
COPYRIGHT © JONES LANG LASALLE IP, INC. 2014. All rights reserved. No part of this publication may be reproduced or transmitted in
any form or by any means without prior written consent of Jones Lang LaSalle. It is based on material that we believe to be reliable. Whilst
every effort has been made to ensure its accuracy, we cannot offer any warranty that it contains no factual errors.
We would like to be told of any such errors in order to correct them.
*Personal Real Estate Corporation

Construction booming around rapid transit stations

Transcription

Similar documents

Market Metrics: Salt Lake City, UT Market Metrics Year-over

Property Brochure

Froggy Drawing handout2 - Mid Mon Valley Transit Authority

Fastfrate Roadfrate SS.indd

2011 Forest Service (AVUE) Application Instructions

Office Space For Sublease

Fall 2009 - O`Brien Commercial Properties

june 4 : fado irish pub

Page 1 ffif :,,$E)-agesrBe#lfffi ,/ _ .. Regisrration No" , Hgyyo : *_n_

Maestro - Lutron