Marché d'édifices à bureaux de Montréal : actualités

[Aurélien]

Il y a quelques années, on croyait que c'était en l'honneur d'un certain Jacob Mountain, mais ce serait en fait le nom d'un sentier qui se rendait jusqu'à la Croix du Mont-Royal au temps du Régime français.

[rufus96]

Ca, par contre, c'est à Westmount... Ou devrais-je dire "Ouest-de-la-Montagne" :-)

 

Yep, picture is tagged as Westmount. Nonetheless, that's not my point. All I'm saying is that many streets such as St. Laurent used to have bilingual signage, which may be, in part, why many older anglophones and older anglophone institutions sometimes use anglophone street names/translations.

[WestAust]

Selon un tweet d'Alisson Lampert

 

end of Q1, only 8 class A buildings left in Mtl with over 35,000 square feet of contiguous space: Avison Young

[Habsfan]

Selon un tweet d'Alisson Lampert

 

Ça correspond avec les statistiques que j'ai vu la semaine dernière à une conférence sur la marché immobilierr de Mtl.

[GDS]

These are some of the major class A available

 

Sun Life Building : Total Available 164,122 sq. ft - Contiguous 93,988 sq. ft

Place Ville Marie : Total Available 181,091 sq. ft - Contiguous 54,787 sq. ft

800 René-Lévesque : Total Available 104,154 sq. ft - Contiguous 50,308 sq. ft

999 de Maisonneuve : Total Available 97,453 sq. ft - Contiguous 45,000 sq. ft

Maison Astral : Total Available 97,219 sq. ft - Contiguous 41,495 sq. ft

1981 McGill College : Total Available 69,105 sq. ft - Contiguous 33,335 sq. ft

1250 René-Lévesque : Total Available 55,223 sq. ft - Contiguous 36,469 sq. ft

Tour 1130 Sherbrooke : Total Available 65,005 sq. ft - Contiguous 28,000 sq. ft

1000 De La Gauchetière : Total Available 155,319 sq. ft - Contiguous 71, 493 sq. ft

Tour de la Bourse : Total Available 88,906 sq. ft - Contiguous 21,818 sq. ft

Centre de commerce mondial : Total Available 78,560 sq. ft - Contiguous 23,277 sq. ft

700 De La Gauchetière : Total Available 95,217 sq. ft - Contiguous 30,996 sq. ft

 

If you take all the Class A buildings, there is under 2 million sq. ft of space available, even if you add in the 230,000 sq. ft that is under construction with Altoria. Since it is unlikely that the current Alcan offices will go back on the lease market, their move will not affect current availability. Meaning that all else being equal, when Rio Tinto announces their plans later this year, they will be adding only about 400,000 sq. ft to lease availability circa 2014. With the current growth rates for Montreal, that would mean that we are likely to see another tower announce construction before next summer. This is moot though if SNC decides to build Felix Martin 2 since they would vacate some 400,000 sq. ft (not all class A) of space while like adding an equal amount of availability in their head offices (i.e they wouldn't occupy FM1&2 100%).

[WestAust]

A big chunk of Sun Life building vacancy will come from AbitibiBowater moving to Cité du Multimédia to cut costs

[Habsfan]

Very interesting. As we can see, the blocks of 50,000 + sq feet are very rare! Now, the leasing rates need to go up.

[MtlMan]

Looking good!

[WestAust]

In Montreal, the office vacancy rate declined from 10.8% in the second quarter

of 2010 to 8.9% this quarter. Montreal's downtown office market continues to

perform well, with vacancy down from 9.1% at this time last year to 7.5% this

quarter.

“The downtown Montreal office market continues to tighten, and there are

approximately ten availabilities of Class A space greater than 30,000 SF in the

downtown core this quarter,” said Brett Miller, Executive Vice President and

Regional Managing Director for CBRE in Eastern Canada. “As a result, the first

new downtown office tower since 2002 – a ten storey, 230,000 SF building – has

commenced construction. However, it will not be completed until early 2014 so

the market will continue to tighten until then.”

After a weak first quarter, the Montreal industrial market had a very strong

second quarter of 2011. “There was 3.7 million SF of positive net absorption this

quarter, which more than recouped the drawback last quarter, and prompted

availability to drop back to 10.0%, equaling the availability rate at this time last

year.” Miller said “There was strong demand for high quality warehousing and

distribution space, however, much of the available space in the market continues

to be structurally obsolete.”

 

http://www.cbre.ca/NR/rdonlyres/9170577E-0351-4F28-97C1-6E1C0E4AB422/924224/CBRE2Q2011NationalOfficeandIndustrialTrendsRelease.pdf

[rufus96]

I guess the 10 storey office building they're referring to is the office portion of Altoria. It seems to fit the description.