Market Report -- Victoria, British Columbia, Canada

Market Research

Properties

Victoria, British Columbia, Canada

Metropolitan Area Economic Overview
Calculations for all indices were provided by SRC, LLC

Market Research provided by NAI Commercial Victoria
Last Updated: 19-Oct-2010

* Click on each category for a detailed definition.

	RENT/SF/Year			RENT/SF/Year
	Low	High	Effective Avg.	Low	High	Effective Avg.	Vacancy	Investment Yield
Downtown Office
New Construction (AAA)	CAD 35.00	CAD 40.00	N/A	$ 34.65	$ 39.60	N/A	4.7%	7.0%
Class A (Prime)	CAD 29.00	CAD 35.00	N/A	$ 28.71	$ 34.65	N/A	3.5%	7.0%
Class B (Secondary)	CAD 25.00	CAD 29.00	N/A	$ 24.75	$ 28.71	N/A	6.1%	7.0%

Suburban Office
New Construction (AAA)	CAD 38.00	CAD 42.00	N/A	$ 37.62	$ 41.58	N/A	1.3%	7.0%
Class A (Prime)	CAD 32.00	CAD 36.00	N/A	$ 31.68	$ 35.64	N/A	6.5%	7.0%
Class B (Secondary)	CAD 26.00	CAD 30.00	N/A	$ 25.74	$ 29.70	N/A	3.2%	7.0%

Industrial
Bulk Warehouse	CAD 10.00	CAD 12.00	N/A	$ 9.90	$ 11.88	N/A	1.5%	7.0%
Manufacturing	CAD 12.00	CAD 14.00	N/A	$ 11.88	$ 13.86	N/A	1.5%	7.0%
High Tech / R&D	CAD 12.00	CAD 18.00	N/A	$ 11.88	$ 17.82	N/A	1.5%	7.0%

Retail
Downtown	CAD 38.00	CAD 90.00	N/A	$ 37.62	$ 89.11	N/A	8.0%	7.0%
Neigborhood Service Centers	CAD 26.00	CAD 32.00	N/A	$ 25.74	$ 31.68	N/A	5.0%	7.0%
Community Power Center	CAD 24.00	CAD 28.00	N/A	$ 23.76	$ 27.72	N/A	2.0%	7.0%
Regional Malls	CAD 50.00	CAD 70.00	N/A	$ 49.50	$ 69.31	N/A	3.0%	7.0%

Development Land	Low/Acre	High/Acre	Low/Acre	High/Acre
Office in CBD	CAD 1,500,000.00	CAD 2,000,000.00	$ 1,485,148.51	$ 1,980,198.02
Land in Office Parks	CAD 600,000.00	CAD 1,000,000.00	$ 594,059.41	$ 990,099.01
Land in Industrial Parks	CAD 500,000.00	CAD 750,000.00	$ 495,049.50	$ 742,574.26
Office/Industrial Land - Non-park	CAD 600,000.00	CAD 900,000.00	$ 594,059.41	$ 891,089.11
Retail/Commercial Land	CAD 1,000,000.00	CAD 1,500,000.00	$ 990,099.01	$ 1,485,148.51
Residential	CAD 400,000.00	CAD 1,000,000.00	$ 396,039.60	$ 990,099.01

Conversion 1.01CAD = 1 US$

Footnote:

Source - NAI Commercial Victoria

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