Market Insights Q1 2020

Market Insights Q1 2020

Q1 Market Update 2020 GTA West



At the beginning of this quarter the GTA West Office Market was riding a positive wave of momentum in Q1 2020. Tour velocity was high across all market nodes with a good mix of both large and small tenants. Groups such as Pepsi, Infosys, Guidewire and Boehringer are all examples of tenants over 40,000 SF that were actively looking for office space. Interest was also seen from the co-working industry looking to expand into the suburbs as newcomers such as Venture-X and Zemlar Offices were very active. The positive velocity and recently announced lease transactions (McKesson/PetSmart etc.) continued to push the GTA West into a Landlord’s market. 

Q1 GTA West Office Market Chart

The sudden arrival of the COVID-19 pandemic at the end of Q1 2020 into Q2 2020 has brought the GTA West leasing market to a halt. It is still too early to predict the full effects of the COVID-19 pandemic moving forward however, it is possible that there will be an increase in the amount of sublease space available in the next few months, placing pressure on Landlords from an asking Net Rent perspective.

The biggest challenge will inevitably be in finding a balance for the Landlord community to prepare buildings for employees to return to work. The entire Chris & Adam team has been following changes to the market very closely and will continue to do so to ensure that you are equipped with timely insights and the knowledge necessary to move forward in your business decisions as the GTA West Office market continues to evolve.

Recent Lease Transactions Q1 2020 GTA West
Rent Relief Tips GTA West


Uncertainty due to COVID-19 has made it difficult to predict the future of the GTA West Market, however, our team has maintained close relationships with Landlords to be able to provide you with a unique offering of knowledge and insights on the current market trends. 

Key Questions for Landlords for Building Tours
Model Suites GTA West


Before COVID-19 we noticed a trend (in certain sub-markets) that there is a lack of move-in ready space. With construction on hold during COVID-19 we see this trend of lack of quality model suites continuing. The Landlords with move-in ready model suite space are at an advantage for leasing out their available office space.

How to build a model suite? Check out Carttera’s 1919 Minnesota Court’s model suite virtual tour here. At the time of planning there were zero model suites in the 4,000-6,000 SF range in Class A buildings in Meadowvale.



With a limited velocity for tours during the COVID-19 pandemic we see an opportunity to leverage PropTech to continue to market available space. We see Walkthruit as a good platform to use to show an animated virtual tour of how space can look beyond its current state. Walkthruit can even tailor leaseholds to the building standard and incorporate realistic views. Here’s an example of a planned model suite we used Walkthruit for at Nicola Wealth’s 25 Watline Avenue.


Leveraging PropTech
How Can We Help?
Toronto West Landlord Advisory Team

Let’s Get in Touch

Fill out the form below to get in touch with us.

Market Insights Q1 2020

Staying Connected

Staying connected

We have been working from home for the last two weeks. It was challenging at first to change our routine and adjust to not seeing our teammates and clients in-person regularly. Embracing Colliers work from home tips we have adapted to our new home offices and learned how to efficiently stay connected while working remotely. Here are five ways we are staying open for business in the time of covid-19.

Keep Conversations Going.

Colliers is an International company which means we frequently communicate with our teammates across the country and border. We are set up and proficient with video conference and collaboration tools.

We use Zoom for large scale conference calls and webinars. Zoom allows for over 400 people to be present on the call which means that our teams across Canada can join and stay up-to-date with the latest market information. 

We have been using Microsoft Teams for our day to day information sharing and project management. With live editing and integrated apps this has been a great way for us to stay organized.

Lastly, Colliers has been using Skype for our daily chats, calls and teams meetings for quite some time now. Skype allows us to collaborate with clients and colleagues to find new and innovative ways to promote properties and provide insights. Give us a call on Skype today and lets talk about what we can do for you!

VTS Reporting.

Have you started using VTS? Many of the landlords we work with have adapted this technology as a means of streamlining the leasing and asset management process. Our team has made VTS reporting a priority leveraging real-time deal and portfolio analytics, and nurturing tenant relationships.

All team members are able to stay in the know and monitor every opportunity from the second a prospect enters your pipeline. We log requirements, track tours, comment to colleagues and compare deal financials side by side so money is never left on the table.  

Create a Virtual Signature.

Colliers embraced Docusign one year ago as a way to help reduce our companies paper waste.  By embracing e-signatures we are able to email documents for instant signature and return. The program is more secure than paper. All documents are encrypted and a complete audit trail is maintained.

Embracing Proptech.

Proptech offers efficiency, transparency and helps to shift the focus towards a customer-centric model. A core differentiation for us at Colliers International has been embracing new technology developments in commercial real estate and applying them to our properties to help create a memorable tour experience.

We shared with you our experience with utilizing Walkthruit and Matterport virtual tours last week. Virtual tours are a brilliant solution to providing brokers and tenants with a realistic initial viewing of the space.  We have tried out two companies, Walkthruit and Matterport, they have both helped to improve our efficiency and transparency with showcasing spaces. Read the full article here.

Social Media.

There is no better time to learn how to leverage social media to digitally advertise, make virtual connections and collaborate with like-minded people than the present. Social media is first and foremost about SOCIALIZING, something we have all been craving for the last few weeks. Give it a try, you have nothing to lose! These platforms are free to set up, there are many groups, lessons, and articles to read and engage with. 

Our team has been focusing on social media as a key tool for growing our business in 2020. We would love for you to follow us on Instagram, Facebook, LinkedIn, and Twitter.

If you have any questions about setting up a platform and best practices, our team marketing specialist Katelyn would be happy to help! 

Let’s Get in Touch

Fill out the form below to get in touch with us.

Embracing Proptech

Embracing Proptech

Embracing Proptech

How do you provide a better service and set yourself apart from the competition? Technology in property, or ‘proptech’ is a vital development for the commercial real estate industry. Proptech offers efficiency, transparency and helps to shift the focus towards a customer-centric model. A core differentiation for us has been embracing new technology developments in commercial real estate and applying them to our properties to help create a memorable tour experience. In particular, we would like to share with you our experience with utilizing virtual tours.

Remote Tours Save Time.

Time is all we have in commercial real estate. When we arrange a tour, we ask important questions to ensure that the space is the right size, location and has the amenities that the tenant is looking for. We make sure to ask that the potential client meets all of the requirements that the landlord is looking for before bringing them into the space. We don’t want to waste anyone’s time by showing them a space that can’t become a reality.

However, tenants that seem like the perfect fit can still walk into a suite and feel the space isn’t what they are looking for.  Maybe the photos made the space look larger then it is or they are having trouble imagining their business functioning in the current layout.

Suite 505 at Dundas Kipling Centre. Matterport has captured the view of the almost complete renovations at Kipling Station.

Virtual tours are a brilliant solution to providing brokers and tenants with a realistic initial viewing of the space.  We have tried out two companies, Walkthruit and Matterport, they have both helped to improve our efficiency and transparency with showcasing spaces.

Suite 402 at Burlington’s Premier Office complex, Burloak Towers. Unit available at 5575 North Service Road.

Take a Walkthruit.

Take a walk through an existing space or in this case a proposed model suite. Not everyone has the ability to see an empty room and understand how their business would function within it. Where would we put the printer? How many desks could we comfortably have? What would that look like?

3D renderings allow you to visualize an office in a realistic way. The flooring, paint, furniture and lighting is customized to the building specifications. When a client can experience exactly what their finished space will look like before it’s built, faster leasing decisions are made.



Model Suite rendering at Watline Corporate Centre

At Nicola Wealth’s Watline Corporate Centre in Mississauga you can take a walk through the proposed model suite for Suite 402. Enter in the lobby, imagining your logo on the front of your reception desk. Stroll through the offices newly carpeted built-out space and past the sliding glass doors of the boardroom. Take a peak inside and admire the view of Hurontario street. Imagine your employees collaborating and hard at work in this bright and beautiful open office space. Walk past the open office space and out onto one of the multiple patios that this unit has to offer.

With Walkthruit, you can see a realistic rendering before arriving at the property or showcase the potential of the space to touring tenants while you are there.

White boxed space at Slate 427 community, 401 The West Mall, Suite 300.

Discover Matterport.

This powerful 3D camera takes multiple photos of the space, digitizes the images into a seamless rendering and allows you to view the space from multiple angles. You can also view the renderings in a few different ways including the dollhouse, floor-plan and inside view.

The ‘dollhouse view’ is where our videos start. Look at the space as a whole from an aerial view to get an idea of the overall layout and spacing.

When you hit the ‘floor-plan view’ camera will be centered above the unit and you will view the floor-plan with the added lighting and textures of the space.

Click to jump into the ‘inside view’ and walk about the floor-plan. Click on any circle on the space to see a 360 degree view from the spot.

Need to measure a wall? No problem, the Matterport measurement tool allows you to mark up a space and measure walls, furniture and anything else you may need!



Solving Key Problems.

What problem are you trying to solve? There are many tools available to help us improve our customers experience – it’s all about finding the right solution. Our newest property, Centennial Centre, had a very unique problem that Matterport has helped us solve. With a spread out complex of 8 buildings, the amazing amenities provided by Crown Realty Partners were left undiscovered. We captured a 3D rendering of the Exclusive Tenant Lounge to not only showcase to new potential tenants but to remind current tenants who haven’t had the chance to see how functional the space is and the improvements that were added in the recent renovation.

Exclusive Tenant Lounge at Centennial Centre. Includes small, medium and large meeting areas, tv’s and lounge areas.

Let’s Get in Touch

Fill out the form below to get in touch with us.

Market Update Summary – Q4

Market Update Summary – Q4


Thanks for checking out our quarterly market update summary. This report includes team news and insights on the Meadowvale and Airport Corporate Centre office space for Q4 2019.

Find out what is new to the market, under construction, which tenants are on the move and what’s new with our team by signing up for our quarterly newsletter!


Team News


Join us in welcoming a new member to the Chris and Adam team!

Katelyn joined us in January as our Client Experience Specialist. Her focus has been on creating and maintaining our social media, websites and marketing collateral. This will help us provide our clients with a quick turn-around on professionally designed marketing materials.

Her first task, collaborate with the team to provide quarterly market updates for the GTA West office market. We have taken the time to reflect on the market and compile our expert knowledge and predictions to help landlords stay in the know.

Sign up for our newsletter to receive our Market Updates in your inbox!



Meadowvale has seen a surge in activity throughout Q4 2019 and we expect it to continue through Q1 2020. We saw Innovapost absorb 20,000 SF at 2727 Meadowpine and MDA are rumored to be close to finalizing a deal for 140,000 SF design-build in Meadowvale. Class A vacancy is sitting at 10.7% as of Q4 2019, but it’s our teams prediction that by the end of Q1 2020, the vacancy rate could drop below 9% and by the end of the year be sitting at around 7%, if not lower.

 Taking an in-depth analysis of the statistics suggests that when removing two large blocks of office space (2300 Meadowvale and 2455 Meadowpine), the vacancy rates would drop significantly and Meadowvale would truly be a Landlord market. Is it time to increase Net Rents maybe?

Airport City Centre


The Airport Corporate Centre office leasing market has seen a surge in activity in 2019 with several large contiguous blocks and large subleases being absorbed. Baylis Medical has purchased 5825 Explorer absorbing 100k of sublease space being marketed, Maersk, Medline, and Metro each absorbed 20k+ blocks of available space within 5150 Spectrum Way.

Our prediction is the ACC’s Net Rents will continue to rise towards $20.00 for Class A office product but the vacancy will remain stable until 2021, especially with the introduction of two new buildings to the market; 5050 Satelitte Drive (130k SF), and 2095 Matheson Blvd. (60k SF). Further there has been a wave of activity
in the disposition of office buildings in the ACC. Four (4) buildings were purchased in Q4 2019. Indications  suggest similar levels of activity to come in 2020.

Stay in the Know

We’ll do our best to deliver valuable insights and great advice without invading your mailbox.

6 Keys to Landlord Representation

6 Keys to Landlord Representation

Many different factors make a property attractive to tenants such as facilities, amenities and price. Too often, unsophisticated owners think price is the number #1 driving factor for why tenants lease office space, when it rarely is. There are 6 basic keys to landlord representation success that contribute to fully leased assets.

1. Know your competitive set.

To gain a winning advantage, you must know your competition intimately. This holds true in sports, politics and, of course, in the world of commercial real estate. Knowing what’s happening in the region and neighbourhood allow a deeper understanding of the forces currently at play.

2. Positioning matters.

Property positioning makes all the difference in the income it will produce and its appeal and value to future tenants and buyers. It pays to spend some time on strategy. Those who understand the value of positioning an asset will enjoy rental premiums and faster uptake of leased office space.

Consider how co-working spaces have managed to position themselves as premium office space that yield many times the returns of established executive offices or traditional office suites, disrupting what agents and lenders thought they knew about the
industry. This wasn’t just by offering modern design and cheaper rents; they offer community and tangible value of increased visibility to business owners.

3. Never miss a prospect.

Colliers Canada boasts the best Customer Relationship Management Database in the industry.  This is not just a fancy contact list, this is a game-changing piece of technology that increases leads, closes more deals  faster, and drives customer loyalty and satisfaction.  Colliers Canada is committed to exceeding clients’ expectations.

4. Mix well and form into clusters.

Positioning an industry together in a defined area offers readily understood operational advantages. This is far from a new phenomenon. But having a geographical concentration of an industry offers interconnected business, suppliers, and associated
institutions an increase in productivity, drives innovation and stimulates new businesses. By forming clusters of related tenants, building(s) become a community and destination.

5. Minimize risk.

The commercial real estate market is still prime for expansion, but risks remain. It’s critical for landlords to proactively put a risk-management program in place to minimize exposures. By having the right team of advisors that includes a commercial real estate agent, is vital for proper due diligence, staggered lease renewal dates and knowing your market to mitigate the risks.

6. Today’s lease has a ripple effect on tomorrow’s investment.

The lease that is signed today effects the future, especially NOI. A discounted rental rate draws bargain renters, increases exposure and lowers investment growth.

Tenants today want branding, image and location. Investors want positive cash flow, strong tenant covenants and growing NOI year over year. Some areas are ripe for rental increases with moderate investments made to remodelling and rebranding. By investing
wisely you’ll see rental rates increase causing property values to rise, stronger tenancies which will result in a reduction of tenant turnover.

Let’s Start Something New

Fill out the form below to get in touch with us.