MARKETBEAT Halifax, Nova Scotia Office Q1 2020

MARKET STATISTICS

INVENTORY SUBLET DIRECT OVERALL CURRENT QTR YTD OVERALL UNDER OVERALL AVG OVERALL AVG SUBMARKET (SF) VACANT VACANT VACANCY OVERALL NET NETABSORPTION CNSTR ASKING RENT ASKING RENT (SF) (SF) RATE ABSORPTION (SF) (SF) (SF) (ALL CLASSES)* (CLASS A)*

Halifax – Central Business 6,136,836 12,146 1,142,256 18.8% 92,381 92,381 120,000 $30.35 $35.12 District

Halifax - Suburban 2,466,594 0 145,293 5.9% -6,629 -6,629 0 $28.15 $29.96

Dartmouth 3,102,426 10,272 472,136 15.5% 119,177 119,177 0 $26.80 $29.10

Bedford 943,713 0 80,623 8.5% 13,527 13,527 0 $25.43 $26.77

SUBURBAN TOTALS 6,512,733 10,272 698,052 10.9% 126,075 126,075 0 $27.12 $29.04

HALIFAX TOTALS 12,649,569 22,418 1,840,308 14.7% 218,456 218,456 120,000 $28.70 $31.70

*Rental rates reflect full service asking

KEY LEASE TRANSACTIONS Q1 2020 BILL MACAVOY PROPERTY SUBMARKET TENANT SF TYPE Managing Director Nova Centre Halifax - Central Axis Capital 14,000 Lease +1 902 425 1872 / [email protected] 101 Venture Run Dartmouth Summit Industrial Income REIT 3,000 Lease

1791 Barrington Street Halifax - Central Norwegian Block Exchange 3,000 Lease DYLAN CURRIE Research Coordinator 1809 Barrington Street Halifax - Central Swarmio Inc. 2,000 Lease +1 902 334 2169 / [email protected] *Renewals not included in leasing statistics cwatlantic.com KEY SALES TRANSACTIONS Q1 2020

PROPERTY SUBMARKET SELLER / BUYER SF PRICE/$ PSF

6080 Young Street Halifax - Suburban Choice REIT / FS Industries Ltd. 141,100 $26.7M/$189 A CUSHMAN & WAKEFIELD RESEARCH PUBLICATION 6009 Quinpool Road Halifax - Suburban Armco Capital / SHX Developments 48,948 $16.5M Cushman & Wakefield (NYSE: CWK) is a leading global real CVI Property Holdings / 3333116 NS Ltd. & 11016946 estate services firm that delivers exceptional value for real 101 Research Drive Dartmouth 75,000 $7.0M / $93 CAN Inc. estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately Nova Scotia Pension Services Corp. / Southwest 5562 Sackville Street Halifax - Central 50,000 $4.35M / $87 51,000 employees in 400 offices and 70 countries. In 2018, Properties Ltd. the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital 1741 Brunswick Street Halifax - Central Slate Asset Management / 3332889 NS Ltd. 100,000 $13.98M / $140 markets, valuation and other services. 1313 Barrington Street Halifax - Central Slate Asset Management / Rockstone Investments Ltd. 29,200 $14.65M

©2020 Cushman & Wakefield. All rights reserved. The information contained within this report is gathered from multiple sources believed KEY CONSTRUCTION COMPLETIONS YTD 2020 to be reliable. The information may contain errors or omissions and is PROPERTY SUBMARKET MAJOR TENANT SF OWNER / DEVELOPER presented without any warranty or representations as to its accuracy. 35 Micmac Boulevard Dartmouth Fleetway Inc 228,800 Dartmouth Properties Limited