Net Absorption This Quarter 12-Month Absorption 5-Year Quarterly Average Availability This Quarter Quarter-over-Quarter Asking Net Rent This Quarter* Quarter-over-Quarter *weighted average Development/Sales Under Construction New Supply Sale Price (avg.) Year-over-Year Weighted Average Asking Net Rates ($PSF) By Market | Q2 2019 – Q2 2020 $14 Central 22% $12 $10 East 6% $8 North 15% $6 $4 West 10% 21' 25' 25' 29' 25' 29' 21' 25' 29' 21' 29' - - - - - - - - - - $2 - 18' 22' 22' 26' 22' 26' 18' 22' 26' 18' 26' 30'+ 30'+ < 18' < 18' < 18' < < 18' < GTA Total 13% $0 Central East North West Total Square Feet By Market | Q2 2019 – Q2 2020 17% 1.6% 1.5% 1.2% Central Central East North 1.1% Q2’19 1.3% Q2’19 1.1% Q2’19 14.2M SF 10% East 60% Currently under construction. North 2.0% 1.7% West 13% West GTA Total 1.3% Q2’19 1.2% Q2’19 Availability Rate Net Absorption New Supply Availability vs. Net Absorption and New Supply 4,000,000 8.0% 3,500,000 7.0% 3,000,000 6.0% 2,500,000 5.0% Rate Availability 2,000,000 4.0% 1,500,000 3.0% 1,000,000 2.0% 500,000 1.0% Net Absorption / New Supply (SF) SupplyNew / AbsorptionNet 0 0.0% -500,000 -1.0% Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q4'17 Q1'18 Q2'18 Q3'18 Q4'18 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Colliers Canada | GTA Industrial Market Report | Q2 2020 collierscanada.com/research P.2 Market Avg. Asking Asking Avg. Total (SF) Inventory VacantTotal (SF) Space Rate Vacancy Availability Direct (SF) Sublease (SF)Availability AvailableTotal (SF) Space RateAvailability NetAbsorption (SF) (SF) SupplyNew Under (SF) Construction Wgt ($PSF)NetRent Price Sale Avg. ($PSF) Don Mills 10,058,627 73,000 0.7% 116,029 0 116,029 1.2% -21,000 0 0 $12.63 - Downsview 26,010,876 70,326 0.3% 189,061 32,000 221,061 0.8% -20,750 0 0 $9.59 - East York 8,387,654 0 0.0% 0 0 0 0.0% 0 0 0 - $389.91 North Etobicoke 41,621,761 66,300 0.2% 418,156 0 418,156 1.0% -28,272 0 0 $7.98 $196.30 North York South 11,408,399 156,063 1.4% 307,129 16,003 323,132 2.8% 23,432 46,747 0 $14.49 - Scarborough East 13,862,179 453,545 3.3% 505,391 34,480 539,871 3.9% 0 295,087 2,089,988 $9.85 - Scarborough South 26,780,867 390,507 1.5% 450,009 45,187 495,196 1.8% -96,705 0 0 $8.26 $218.68 Scarborough West 20,980,101 48,534 0.2% 107,501 0 107,501 0.5% -48,534 0 0 $10.13 $185.71 South Etobicoke 29,846,512 233,541 0.8% 681,199 403,579 1,084,778 3.6% 341,444 500,000 0 $9.22 $268.41 Toronto 19,547,662 16,378 0.1% 16,378 0 16,378 0.1% -16,378 0 0 $12.00 $488.37 Weston 22,544,040 53,471 0.2% 135,711 22,500 158,211 0.7% -53,471 0 284,688 $8.78 $229.35 Willowdale 3,612,513 0 0.0% 0 0 0 0.0% 0 0 0 - $163.41 York 5,105,712 119,545 2.3% 328,045 0 328,045 6.4% -119,545 0 0 $11.34 $183.33 GTA Central 239,766,903 1,681,210 0.7% 3,254,609 553,749 3,808,358 1.6% -39,779 841,834 2,374,676 $9.91 $206.38 Ajax 8,408,860 129,504 1.5% 129,504 0 129,504 1.5% 0 0 0 $6.75 $186.67 Oshawa 10,100,600 0 0.0% 186,759 0 186,759 1.8% 0 0 631,262 $6.50 - Pickering 9,814,586 22,523 0.2% 182,156 0 182,156 1.9% 58,013 0 565,000 $8.72 - Whitby 9,330,169 26,534 0.3% 59,917 0 59,917 0.6% 234,083 185,000 185,000 $10.47 - GTA East 37,654,215 178,561 0.5% 558,336 0 558,336 1.5% 292,096 185,000 1,381,262 $7.71 $186.67 Aurora 5,934,613 0 0.0% 56,291 0 56,291 0.9% 0 0 0 $7.95 $150.72 Markham East 34,007,140 119,370 0.4% 297,595 49,346 346,941 1.0% -93,090 0 250,000 $10.16 $226.59 Markham West 1,767,893 0 0.0% 0 0 0 0.0% 0 0 0 - - Newmarket 7,560,291 0 0.0% 0 0 0 0.0% 0 0 0 - $230.88 Richmond Hill 12,427,243 26,028 0.2% 136,672 58,507 195,179 1.6% 15,000 0 88,856 $10.05 $277.15 Vaughan 93,976,158 537,965 0.6% 773244 449,006 1,222,250 1.3% 108,156 387,304 1,526,145 $11.64 $222.64 Whitchurch / Stouffville 1,022,113 0 0.0% 0 0 0 0.0% 0 0 0 - - GTA North 156,695,451 683,363 0.4% 1,263,802 556,859 1,820,661 1.2% 30,066 387,304 1,865,001 $10.96 $191.12 Brampton East 57,543,647 695,749 1.2% 1,794,917 233,804 2,028,721 3.5% -297,947 0 235,423 $10.13 $145.83 Brampton West 41,217,501 42,000 0.1% 514,736 0 514,736 1.2% 533,992 575,992 1,530,888 $8.84 $284.62 Burlington 22,638,890 113,388 0.5% 309,433 0 309,433 1.4% 26,950 0 237,439 $8.35 $209.65 Caledon 17,142,024 311,380 1.8% 340,046 349,118 689,164 4.0% -276,430 0 2,466,461 $8.73 - Halton Hills 7,251,998 40,000 0.6% 30,000 40,000 70,000 1.0% 0 0 0 $7.95 - Milton 21,811,723 227,455 1.0% 424,001 304,807 728,808 3.3% 305,250 407,000 1,318,233 $9.25 - Miss. Central East 19,233,787 134,930 0.7% 287,908 0 287,908 1.5% -134,930 0 308,545 $10.62 - Miss. Central West 18,882,203 140,451 0.7% 511,210 42,226 553,436 2.9% 5,521 0 0 $9.55 - Mississauga East 21,493,041 115,128 0.5% 233,268 0 233,268 1.1% 0 0 0 $8.79 - Miss. / Meadowvale 21,639,495 167,487 0.8% 293,756 112,440 406,196 1.9% 367,727 474,844 90,000 $11.76 - Mississauga South / E 13,259,162 33,131 0.2% 63,083 37,870 100,953 0.8% -33,131 0 0 $8.70 $258.30 Mississauga South / W 19,577,116 49,825 0.3% 67,182 32,213 99,395 0.5% 0 0 1,620,727 $10.18 $262.07 Mississauga West 71,585,280 231,238 0.3% 830,001 284,329 1,114,330 1.6% -52,367 0 643,808 $10.03 $184.66 Oakville 19,751,748 201,921 1.0% 392,775 0 392,775 2.0% -59,514 0 91,088 $8.96 $116.36 Oakville Winston Park 5,898,291 50,760 0.9% 110,147 126,873 237,020 4.0% 29,901 0 0 $10.96 $356.98 GTA West 378,925,906 2,554,843 0.7% 6,202,463 1,563,680 7,766,143 2.0% 415,022 1,457,836 8,542,612 $9.70 $180.94 GTA Total 813,042,475 5,097,977 0.6% 11,279,210 2,674,288 13,953,498 1.7% 697,405 2,871,974 14,163,551 $9.80 $188.68 Colliers Canada | GTA Industrial Market Report | Q2 2020 collierscanada.com/research P.3 Notable Lease Transactions Project/Address Market Municipality Tenant Lease Type Area (SF) 7090 Kennedy Road GTA West Mississauga Lindt & Sprungli Canada Inc. Head Lease 457,448 iPort Caledon – Building F GTA West Caledon Brewers Retail Head Lease 437,458 12000-12400 Coleraine Drive 759 Winston Churchill GTA West Mississauga Goodfoods Head Lease 200,000 Westrock Company of Canada 1049 Squires Beach Road GTA East Pickering Head Lease 123,703 Inc. 5985 McLaughlin Road GTA West Mississauga Schneider Electric Canada Inc. Head Lease 94,669 Notable Developments Project/Address Market Municipality Building Status Est. Completion Area (SF) Owner/Developer 10200 Hurontario Street GTA West Brampton Under Construction Q2 2021 1,300,000 Panattoni 6351 Steeles Avenue East GTA Central Toronto Under Construction Q3 2020 1,023,359 Broccolini iPort Caledon – Building A GTA West Caledon Under Construction Q2 2021 772,300 HOOPP 12000-12400 Coleraine Drive 8480 Mount Pleasant Way GTA West Milton Under Construction Q4 2020 592,636 BentallGreenOak Highway 7 / Brock Road GTA East Pickering Under Construction Q4 2020 565,000 Kubota Canada 1395 Tapscott Road - Building C GTA East Scarborough Under Construction Q4 2021 553,249 First Gulf 1121 Thornton Road GTA East Oshawa Under Construction Q1 2021 410,588 Panattoni Colliers Canada | GTA Industrial Market Report | Q2 2020 collierscanada.com/research P.4 • • • •.