26
2013 Q3 RECENT LEASE TRANSACTIONS 429,423 SF 120,000 94,749 62,762 50,667 43,259 365,123 260,656 222,464 128,505 114,584 103,161 Colliers International, 2013 Q3 12345, Albert-Hudon Dorel Industries Inc. tu New Supply (SF) 52,740 q p * change over previous quarter Trend* Total Vacant (SF) 15,608,315 Under Construction (SF) 180,000 180,000 7.5% q q 15,889,699 p Net Absorption 4 (SF) -26,169 -281,384 8301, Elmslie Intria 2555, des Sources Groupe Charland MAP OF MARKET MARKET CHARACTERISTICS MARKET SNAPSHOT Indicators 2013 Q2 2013 Q3 18-MONTH TREND 0 q Average Sale Price (PSF) $64.19 $52.60 Vacancy Rate 1 4.5% 4.6% p Proportion of Sublease 3 5.3% 5.5% p Availability Rate 2 7.6% Prop. 555-6555 Avenue Lépine 2190, Francis-Hughes Société de Transport de Laval 1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not determined by whether or not a tenant is paying rent on the space. 2. Availability rate: The amount of available space divided by the building inventory base. Available space is space that is available for lease, sublease or for sale and may or may not be vacant. 3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space. 4. Net absorption: The net change in physically occupied space between the current measurement period and the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not included in net absorption calculations because pre-leasing does not involve any change in occupancy. 5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket weighted by the total amount of available square footage in the building . This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc. and /or its licensor(s) © 2013 . All rights reserved. SALES TRANSACTION VOLUME Average Weighted Asking Rent 5 $5.28 $5.34 2350, de la Province Dundee Industrial REIT 1400, Transcanadienne Arden Holdings Inc. 555-585, Lépine 9436, Côte-de-Liesse Groupe Marcelle 1723, 55e avenue John L. Schultz 6520-6620, Abrams Alfagomma Canada Inc. 10930, Sherbrooke E. 92851567 Québec Inc. 9380-9400, Sain-Laurent S.E.C. 9400 SaintLaurent RECENT SALES TRANSACTIONS Population of over 3,957,700 which is approximately half of the total population of the province of Québec Second largest city in Canada Its economy is mainly focused on service-based businesses, which employ 81% of the population Concentration of high-tech businesses Montréal has one of the world's largest inland container port The Montréal island is a major industrial and commercial hub strategically located in the heart of the Québec City- Windsor corridor, Canada’s largest market. Rail lines to the east and south of the city serve eastern Canada and the northeastern U.S. 0 10 20 30 40 50 60 70 80 90 100 $0 $50 $100 $150 $200 $250 $300 2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3 Millions Sales Transaction Volume ($) # of Sales Transactions Industrial Market Dashboard Greater Montreal Area 4.6% $5.34 0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 -1 -0.5 0 0.5 1 1.5 2 2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3 Asking Net Rent ($) / Vacancy (%) Absorption (Millions SF) Absorption Total Vacancy Rate Asking rent

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Page 1: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT SALES

RECENT LEASE TRANSACTIONS

429,423 SF

120,000

94,749

62,762

50,667

43,259

365,123

260,656

222,464

128,505

114,584

103,161

Colliers International, 2013 Q3

12345, Albert-Hudon Dorel Industries Inc.

tu

New Supply (SF) 52,740

q

p

* change over previous quarter

Trend*

Total Vacant (SF) 15,608,315

Under Construction (SF) 180,000 180,000

7.5% q

q

15,889,699 p

Net Absorption4 (SF) -26,169 -281,384

8301, Elmslie Intria

2555, des Sources Groupe Charland

MAP OF MARKET MARKET CHARACTERISTICS MARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3

18-MONTH TREND

0 q

Average Sale Price (PSF) $64.19 $52.60

Vacancy Rate1 4.5% 4.6% p

Proportion of Sublease3 5.3% 5.5% p

Availability Rate2 7.6%

Prop. 555-6555 Avenue Lépine

2190, Francis-Hughes Société de Transport de Laval

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is

physically unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is

not determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period

and the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or

submarket weighted by the total amount of available square footage in the building .

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party should

undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc. and /or its

licensor(s) © 2013 . All rights reserved.

SALES TRANSACTION VOLUME

Average Weighted Asking Rent5 $5.28 $5.34

2350, de la Province Dundee Industrial REIT

1400, Transcanadienne Arden Holdings Inc.

555-585, Lépine

9436, Côte-de-Liesse Groupe Marcelle

1723, 55e avenue John L. Schultz

6520-6620, Abrams Alfagomma Canada Inc.

10930, Sherbrooke E. 9285‑1567 Québec Inc.

9380-9400, Sain-Laurent S.E.C. 9400 Saint‑Laurent

RECENT SALES TRANSACTIONS

• Population of over 3,957,700 which is approximately half of the total population of the province of Québec • Second largest city in Canada • Its economy is mainly focused on service-based businesses, which employ 81% of the population • Concentration of high-tech businesses • Montréal has one of the world's largest inland container port • The Montréal island is a major industrial and commercial hub strategically located in the heart of the Québec City-Windsor corridor, Canada’s largest market. Rail lines to the east and south of the city serve eastern Canada and

the northeastern U.S.

0

10

20

30

40

50

60

70

80

90

100

$0

$50

$100

$150

$200

$250

$300

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Millio

ns

Sales Transaction Volume ($) # of Sales Transactions

Industrial Market Dashboard

Greater Montreal Area

4.6%

$5.34

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

10.0

-1

-0.5

0

0.5

1

1.5

2

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

As

kin

g N

et

Re

nt

($)

/ V

ac

an

cy (

%)

Ab

so

rpti

on

(M

illio

ns

SF

)

Absorption Total Vacancy Rate Asking rent

Page 2: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT SALES

RECENT LEASE TRANSACTIONS

94,749 SF

50,667

36,661

30,381

22,879

20,165

128,505

114,584

95,077

78,740

46,909

Colliers International, 2013 Q3

tu

New Supply (SF) 0 tu

0Under Construction (SF) 0

0

SALES TRANSACTION VOLUME

Average Sale Price (PSF) $57.32 $58.75 p

Average Weighted Asking Rent5 $4.86 q

18-MONTH TREND

$4.81

* change over previous quarter

Net Absorption4 (SF)

2,909,898

-102,329 -182,633 q

Total Vacant (SF) p2,727,265

5.8% 6.2% p

Proportion of Sublease3 6.1% 5.7% q

Availability Rate2 10.5% 10.9% p

MAP OF MARKET MARKET CHARACTERISTICS MARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*

Vacancy Rate1

RECENT SALES TRANSACTIONS

1400, Transcanadienne Arden Holdings Inc.

742-760, Renaud FD Plastics Canada Corporation

115, Manfred FM Transport Inc.

39, Hymus I.E.I. Inc.

2555, des Sources Groupe Charland

1723, 55e avenue John L. Schultz

19000, Transcanadienne NRG Transport

555-585, Lépine Prop. 555-6555 Avenue Lépine

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

2555, Des Sources Groupe Immobilier Chartrand Inc.

77, Brunswick GPM (12) GP Inc.

1805, Saint-François Engleng Inc.

• The ever-growing West Island market is made up of a multitude of boroughs and cities such as Dorval, Pointe-Claire, and Dollard-des-Ormeaux, to name a few • Easy access to green spaces, free parking and great amenities • Close proximity to the P.E.T. International Airport , Laval and to the Ontario and U.S.A. borders • Access to Highways 20 and 40, 20 minutes to downtown, accessible public transit • Diversified economy, highly-educated bilingual work force • The dynamic West Island Economic Development Corporation provides the necessary support to big and small businesses • The West Island, diverse in culture and industry, offers an ideal, progressive business environment, poised to nurture innovation and growth

Industrial Market Dashboard

West Island

0

5

10

15

20

25

$0

$5

$10

$15

$20

$25

$30

$35

$40

$45

$50

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Millio

ns

Sales Transaction Volume ($) # of Sales Transactions

6.2%

$4.81

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

10.0

-0.4

-0.3

-0.2

-0.1

0

0.1

0.2

0.3

0.4

0.5

0.6

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(M

illio

ns S

F)

Absorption Total Vacancy Rate Asking rent

Page 3: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT SALES

RECENT LEASE TRANSACTION

20,000 SF

Colliers International, 2013 Q3

--

* change over previous quarter

Jelli Fish Kids

$4.10 q

20.4% tu

0 tu

555, Lee

tu

Total Vacant (SF) 621,375

Net Absorption4 (SF) -80,721

737,469 p

0

New Supply (SF) 0

Average Weighted Asking Rent5 $4.35

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

18-MONTH TREND

0 tu

q-116,094

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

SALES TRANSACTION VOLUME

Average Sale Price (PSF) --

Under Construction (SF)

Vacancy Rate1 10.8% 12.8% p

Proportion of Sublease3 26.1% 22.0% q

Availability Rate2 20.4%

MAP OF SUBMARKET SUBMARKET CHARACTERISTICS SUBMARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*• The industrial hub, developed in the 60s, now includes over 80 companies • Baie-d'Urfé's industrial sector is delimited to the North by the Trans-Canada Highway (40) to the South by the Remembrance Highway (20), to the West by the Macdonald College campus in Sainte-Anne-de-Bellevue and to the East by the western limit of the City of Beaconsfield • It is also serviced by CN and CP railways which connect Montréal to Ontario and Western Canada • The northern part of the city between Highways 20 and 40 is an industrial park • Access to green spaces • Baie-D’Urfé and Sainte-Anne-de-Bellevue are accessible by public transit by means of the Vaudreuil-Hudson commuter train as well as by means of six STM bus lines and 23 shared taxibus stops

Industrial Submarket Dashboard

Baie d'Urfé Ste-Anne-de-Bellevue

12.8%

$4.10

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

-150

-100

-50

0

50

100

150

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(T

ho

usan

ds S

F)

Absorption Total Vacancy Rate Asking rent

0

2

4

$0

$1

$2

$3

$4

$5

$6

$7

$8

$9

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Millio

ns

Sales Transaction Volume ($) # of Sales Transactions

Page 4: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT SALES

Colliers International, 2013 Q3

* change over previous quarter

SALES TRANSACTION VOLUME

Average Sale Price (PSF) -- --

18-MONTH TREND

$6.16 $6.16 tu

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

Net Absorption4 (SF) 47,898 -23,381 q

Total Vacant (SF) 38,775 62,156 p

q

0 tu

tu

Average Weighted Asking Rent5

00Under Construction (SF) tu

New Supply (SF) 0

Vacancy Rate1 0.9% 1.4% p

Proportion of Sublease3 0.0% 0.0% tu

Availability Rate2 7.5% 7.2%

MAP OF SUBMARKET SUBMARKET CHARACTERISTICS SUBMARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*• Kirkland is primarily a residential community, with a commercial core, and an industrial park straddling the Trans-Canada Highway (Autoroute 40) • At the crossroads of Canada's major highways and only minutes to the U.S. interstate system • At the heart of the most active rail corridor in Canada • A major distribution centre for Eastern Canada • Kirkland provides quick access to Montréal's P.E.T. International Airport, to the port, as well as one of the most active railway corridors in the country, not to mention its proximity to essential services

Industrial Submarket Dashboard

Kirkland

1.4%

$6.16

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

-50

-40

-30

-20

-10

0

10

20

30

40

50

60

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(T

ho

usan

ds S

F)

Absorption Total Vacancy Rate Asking rent

0

2

4

$0

$2

$4

$6

$8

$10

$12

$14

$16

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Millio

ns

Sales Transaction Volume ($) # of Sales Transactions

Page 5: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT SALES

RECENT LEASE TRANSACTIONS

94,749 SF

36,661

22,879

4,387

4,130

4,039

95,077

Colliers International, 2013 Q3

19000, Transcanadienne NRG Transport

115, Manfred

137, Labrosse Tindex Sales

FM Transport Inc.

tu

Total Vacant (SF) 1,250,860

2555, des Sources

Availability Rate2 11.9% 11.8% q

tu

* change over previous quarter

0 tu

New Supply (SF) 0

Groupe Charland

0

SALES TRANSACTION VOLUME

Average Sale Price (PSF) $56.08 $67.31 p

Average Weighted Asking Rent5 $5.20 $5.27 p

18-MONTH TREND

Under Construction (SF) 0

1,278,815 p

Net Absorption4 (SF) -3,718 -27,955 q

Vacancy Rate1 6.4% 6.6% p

Proportion of Sublease3 0.0% 0.0%

MAP OF SUBMARKET SUBMARKET CHARACTERISTICS SUBMARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

2555, Des Sources Groupe Immobilier Chartrand Inc.

214, Brunswick TCF Express Clothing

131, Labrosse Groupe Impero

RECENT SALES TRANSACTION

• Strategically located and well served by a modern transportation network, such as the AMT bus service and the CP rail service • Pointe-Claire has been able to maintain its local identity while adapting to the demands of an urban contemporary lifestyle • In 2011, Pointe-Claire celebrated 100 years as a Municipal corporation under the name of the City of Pointe-Claire • The city has shopping centers, yacht clubs, swimming teams and much more to offer

0

1

2

3

4

$0

$5

$10

$15

$20

$25

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Milli

on

s

Sales Transaction Volume ($) # of Sales Transactions

Industrial Submarket Dashboard

Pointe-Claire

6.6%

$5.27

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

-200

-150

-100

-50

0

50

100

150

200

250

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

ion

(T

ho

usan

ds S

F)

Absorption Total Vacancy Rate Asking rent

Page 6: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT LEASE TRANSACTION

1,500 SF

78,740

Colliers International, 2013 Q3

$5.08 $4.98

tu

q

-- $52.07

0

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

RECENT SALES TRANSACTION

77, Brunswick GPM (12) GP Inc.

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

87, Brunswick 8 Count Dance Inc.

New Supply (SF) 0 0

q

SALES TRANSACTION VOLUME

Average Sale Price (PSF)

Under Construction (SF)

0

130,968

18-MONTH TREND

Availability Rate2 6.5%

* change over previous quarter

0

Total Vacant (SF)

6,998

tu130,968

tu

Average Weighted Asking Rent5

Net Absorption4 (SF)

tu

Vacancy Rate1 5.0% 5.0% tu

Proportion of Sublease3 0.0% 0.0%

q

tu

5.9%

MAP OF SUBMARKET SUBMARKET CHARACTERISTICS SUBMARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*• Commercial activities are concentrated on the north-south axis of des Sources and Saint-Jean Boulevards. As for industrial locations, they are located along Brunswick and Saint-Régis Boulevards, close to the City's southern border along Highway 40 • The civic centre houses skating rinks, indoor pools, an amphitheatre and much more • The city's urban planning department is at the service of developers who are interested in establishing a business in the city

Industrial Submarket Dashboard

Dollard-des-Ormeaux

5.0%

$4.98

0.0

2.0

4.0

6.0

8.0

10.0

12.0

14.0

0

20

40

60

80

100

120

140

160

180

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(T

ho

usan

ds S

F)

Absorption Total Vacancy Rate Asking rent

0

1

2

3

4

$0

$1

$2

$3

$4

$5

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Millio

ns

Sales Transaction Volume ($) # of Sales Transactions

Page 7: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT SALES

RECENT LEASE TRANSACTIONS

50,667 SF

30,381

20,165

17,455

13,779

7,859

128,505

114,584

46,909

Colliers International, 2013 Q3

1400, Transcanadienne Arden Holdings Inc.

Total Vacant (SF) 685,287 700,490 p

Net Absorption4 (SF) -72,786 -15,203 p

Proportion of Sublease3 0.6% 0.6% q

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

SALES TRANSACTION VOLUME

Average Weighted Asking Rent5 $4.79 $4.90

18-MONTH TREND

* change over previous quarter

1723, 55e avenue John L. Schultz

742-760, Renaud FD Plastics Canada Corporation

39, Hymus

0 0 tu

Average Sale Price (PSF) $99.74 $57.76 q

Under Construction (SF)

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

New Supply (SF) 0 0 tu

p

555-585, Lépine Prop. 555-6555 Avenue Lépine

1805, Saint-François Engleng Inc.

I.E.I. Inc.

RECENT SALES TRANSACTIONS

1255, Transcanadienne

p

Availability Rate2 6.4% 8.0% p

MAP OF SUBMARKET SUBMARKET CHARACTERISTICS SUBMARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*

Vacancy Rate1 4.6% 4.7%

Coty Canada Inc.

10125-10129, Côte-de-Liesse Groupe DMF Transport Inc.

1875, 55e avenue Commerces Palettes inc.

• Bordering on Saint-Louis Lake, Pointe-Claire, Dollard-des-Ormeaux, Saint-Laurent and Lachine • Dorval enjoys a diversified economy as evidenced by its various types of commercial and industrial establishments • The dominant feature of the City remains the Pierre-Elliott-Trudeau International Airport, which gives Dorval a definite edge in terms of economic development • The city has become, over the years, the meeting place of more than 25,000 people who come daily to work for the many firms located in its strategically located industrial parks • Dorval meets the needs and expectations of its residents with a complete range fo services and activities as well as an outstanding quality of life which make it a great place to live and work

0

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

$0

$5

$10

$15

$20

$25

$30

$35

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Milli

on

s

Sales Transaction Volume ($) # of Sales Transactions

Industrial Submarket Dashboard

Dorval

4.7%

$4.90

0.0

1.0

2.0

3.0

4.0

5.0

6.0

-150

-100

-50

0

50

100

150

200

250

300

350

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(T

ho

usan

ds S

F)

Absorption Total Vacancy Rate Asking rent

Page 8: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT SALES

RECENT LEASE TRANSACTIONS

62,762 SF

12,467

5,468

3,805

3,681

3,645

84,659

71,923

71,616

37,992

Colliers International, 2013 Q3

1825-1865, 32e av.

1950, 32e av.

Total Vacant (SF) 1,696,322

* change over previous quarter

0 tu

New Supply (SF) 0 0 tu

Net Absorption4 (SF)

q

Average Weighted Asking Rent5 $4.37 $4.47

-16,076

$68.97

1,597,670 q

98,652 p

Vacancy Rate1 8.3% 7.9% q

Proportion of Sublease3 19.4% 20.6% p

Availability Rate2 14.1% 11.5% q

Under Construction (SF)

Dundee Industrial REIT

1110, Claire Crescent Tanguay & Fils

0

Average Sale Price (PSF) $112.82

1124, Claire Crescent Aliments Amelya Impex

RECENT SALES TRANSACTIONS

1876-1936, 32e av.

p

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

1106, Claire Crescent Regency Group

Dundee Industrial REIT

SALES TRANSACTION VOLUME 18-MONTH TREND

9436, Côte-de-Liesse Groupe Marcelle

9254, Côte-de-Liesse G.I. Sportz

Dundee Industrial REIT

1800, 46e av. 7502907 Canada Inc.

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

1692, Claire Crescent Fast Repair Service

MAP OF MARKET MARKET CHARACTERISTICS MARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*• Just off of Highway 20 with bus and commuter train services • Land used for industrial activities occupies nearly 50% of the total size of the borough • Industrial activity Lachine is located on four main areas: The Old Lachine Canal and the surrounding area (a sector in redevelopment), the area north of Highway 20, the Norman area (a sector in restructuration), and the Yards of the Canadian Pacific • Lachine is also known for its abundant parks, bicycle paths, water access (Lachine Canal), its rich cultural History (presence of numerous 19th century working class homes) as well as many museums and unique works of art • Lachine is home to over 60 companies subsidiaries of foreign companies, which are among the largest employers in the district. THey include Rolls Royce and UPS

0

2

4

6

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18

$20

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Milli

on

s

Sales Transaction Volume ($) # of Sales Transactions

Industrial Market Dashboard

Lachine

7.9%

$4.47

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

10.0

-40

-20

0

20

40

60

80

100

120

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(T

ho

usan

ds S

F)

Absorption Total Vacancy Rate Asking rent

Page 9: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT SALES

RECENT LEASE TRANSACTIONS

43,259 SF

30,429

30,000

27,925

21,664

19,104

80,077

26,516

6,011

Colliers International, 2013 Q3

5.9%

Under Construction (SF) 0 0 tu

Net Absorption4 (SF) -353,901 -270,121 p

p

Total Vacant (SF) 2,802,656

New Supply (SF) 0 0 tu

Average Sale Price (PSF) $53.20 $59.50 p

Average Weighted Asking Rent5 $5.55 $5.71 p

SALES TRANSACTION VOLUME 18-MONTH TREND

* change over previous quarter

Vacancy Rate1 3.9% 4.3% p

Proportion of Sublease3 0.0% 0.4%

6.6% pAvailability Rate2

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

MAP OF MARKET MARKET CHARACTERISTICS MARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3

RECENT SALES TRANSACTIONS

6520-6620, Abrams Alfagomma Canada Inc.

7695, Côte-de-Liesse Marchon Canada Inc.

1440, Jules-Poitras

Trend*

3,072,777 p

Nordic Developments

165, Deslauriers Prosol Distribution inc.

9415-9495, Transcanadienne

7500, Côte-de-Liesse Redbox Corp.

McKesson Automation Canada

127, Montée-de-Liesse Titanium Industries Inc.

6155, Transcanadienne Capital TC Ward Inc.

8885, Henri-Bourassa O. Auto Arizona Inc.

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

•• A community that continues to thrive, Saint-Laurent today encompasses the largest industrial hub in Québec and is renowned for its aeronautic, life sciences and information technologies industrial clusters •• Among the communities' numerous advantages are its ideal geographic location and major highway network, complemented by two métro stations and three train stations, the latter serving the Montréal—Deux-Montagnes commuter line giving easy access to downtown •• There are approximately 19.9 million square feet of industrial land to be developed located in the Technoparc and industrial areas •• Boasting approximately 4900 businesses and 106,000 jobs, Saint-Laurent is the second largest employment hub in the GMA

0

1

2

3

4

5

6

7

8

9

10

11

12

13

$0

$10

$20

$30

$40

$50

$60

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Millio

ns

Sales Transaction Volume ($) # of Sales Transactions

Industrial Market Dashboard

Saint-Laurent

4.3%

$5.71

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

-0.4

-0.3

-0.2

-0.1

0

0.1

0.2

0.3

0.4

0.5

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(M

illio

ns S

F)

Absorption Total Availability Rate Asking rent

Page 10: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT LEASE TRANSACTIONS

120,000 SF

42,201

12,636

2,602

2,000

1,423

260,656

89,862

80,028

49,368

16,703

8,277

Colliers International, 2013 Q3

SALES TRANSACTION VOLUME

Average Sale Price (PSF) $73.74 $46.75

18-MONTH TREND

$5.31

Availability Rate2 4.6%

q

$5.75 p

Under Construction (SF) 0 tu

New Supply (SF) 0 0 tu

Vacancy Rate1 3.8% 3.6% q

Proportion of Sublease3 0.0% 0.0% tu

q4.4%

MAP OF MARKET MARKET CHARACTERISTICS MARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*

5455, de Gaspé Atlantic Sportswear MFG Ltd.

0

Total Vacant (SF) 2,647,329

Average Weighted Asking Rent5

148,858

2,498,471

* change over previous quarter

q

Net Absorption4 (SF) 170,320 q

8301, Elmslie Intria

Les Entreprises Denis Bineau Inc.

9350, de L'Esplanade Les Immeubles 9350 Esplanade Inc.

563, Lépine Artika for Living Inc.

6600, Saint-Urbain Mike Bouzaglou

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

RECENT SALES TRANSACTIONS

101-111, Louvain 6353036 Canada inc.

1395, Mazurette Boulangerie Arka

9380-9400, Sain-Laurent S.E.C. 9400 Saint‑Laurent

7491-7493, Cordner C.A.D.R.E.

6585, Saint-Urbain 9285‑2953 Québec Inc.

6924-6940, du Parc Édifice Samuelsohn Inc.

7355, Notre-Dame E.

• In addition to well-established hospitals and those in expansion, the McGill University Health Centre now under construction, the biotechnology research institute, the medical faculty and pharmacy school of Université de Montréal, there are almost 650 health and social services establishments in the borough. They employ thousands of professionals • Contains one of the most sought-after resdential neighbourhoods, Notre-Dame-De-Grâce (NDG) • Numerous educational facilities, including one of Concordia University's campuses and several private high schools • Good connections to public transit, train, métro and bus lines

0

2

4

6

8

10

12

14

16

18

$0

$10

$20

$30

$40

$50

$60

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Milli

on

s

Sales Transaction Volume ($) # of Sales Transactions

Industrial Market Dashboard

Midtown

3.6%

$5.75

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

-0.6

-0.5

-0.4

-0.3

-0.2

-0.1

0

0.1

0.2

0.3

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(M

illio

ns S

F)

Absorption Total Vacancy Rate Asking rent

Page 11: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT LEASE TRANSACTION

120,000 SF

16,703

2,385

Colliers International, 2013 Q3

7491-7493, Cordner C.A.D.R.E.

New Supply (SF) 0 0

tu

Average Sale Price (PSF) $55.72 $62.87

$4.89 p

tu

Under Construction (SF) 0 0

p

3.5%

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

SALES TRANSACTION VOLUME 18-MONTH TREND

* change over previous quarter

8301, Elmslie Intria

RECENT SALES TRANSACTIONS

p

Average Weighted Asking Rent5 $4.59

q

2714, Lapierre Corporation D HP

Total Vacant (SF) 347,388 358,248

Net Absorption4 (SF) 83,139 -10,860

MAP OF SUBMARKET SUBMARKET CHARACTERISTICS SUBMARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*

p

Proportion of Sublease3 0.0% 0.0% tu

Availability Rate2 3.3% p

Vacancy Rate1 2.4% 2.4%

• An industrial sector located five minutes away from downtown Montréal • One of the main commercial centres on the island of Montréal • A dynamic business community with advantageous taxation • Good public transportation of bus and métro service • Easy access to highways 20, 15 and the Mercier and Champlain bridges • The manufacturing sector, with its 5,660 jobs, account for 21.5% of employment in the district. Retail ranks second with 4,735 jobs, or 18% of the total

0

1

2

3

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Millio

ns

Sales Transaction Volume ($) # of Sales Transactions

Industrial Submarket Dashboard

LaSalle

2.4%

$4.89

0.0

1.0

2.0

3.0

4.0

5.0

6.0

-40

-20

0

20

40

60

80

100

120

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(T

ho

usa

nd

s S

F)

Absorption Total Vacancy Rate Asking rent

Page 12: Booklet gma industrial dashboards 2013'q3

2013 Q3

Colliers International, 2013 Q3

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

* change over previous quarter

0 tu

New Supply (SF) 0 0 tu

Under Construction (SF) 0

Availability Rate2 4.2% 4.0% q

SALES TRANSACTION VOLUME

Average Sale Price (PSF) $76.94 -- tu

Average Weighted Asking Rent5 $4.90 $5.42 p

18-MONTH TREND

p

Net Absorption4 (SF)

Vacancy Rate1 2.9% 3.1% p

Proportion of Sublease3 0.0% 0.0% tu

106,046 -17,179 q

Total Vacant (SF) 419,418

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

MAP OF SUBMARKET SUBMARKET CHARACTERISTICS SUBMARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*

436,597

• The Town of Mount Royal industrial sector represents almost 40% of the Town’s area and its closest neighbours are the Cité scientifique de Montréal and the current Blue Bonnets Hippodrome site, and it also gives out onto Côte-de-Liesse Road and the Décarie Expressway. Approximately ten kilometres from P.E.T. International Airport and fifteen kilometres away from the Port of Montreal • Minutes from downtown, strategically located in the centre of the island of Montreal, Town of Mount Royal has access to major Highways (15, 40) • Easy access to buses and metro stations and commuter train to downtown Montréal • Large numbers of amenities, including a shopping center, professional services and educational institutions • The heart of a major network of bilingual resources • Lots of green spaces and activities • The overall industrial sector has already been densely built; from this point on, set-up projects involve more of a re-conversion of existing stock than choosing a vacant lot • Large-scale employers include Ericsson Canada, Kraft Canada, Lise Watier, Britton Electric Company, and several more

0

1

2

3

4

$0

$2

$4

$6

$8

$10

$12

$14

$16

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Millio

ns

Sales Transaction Volume ($) # of Sales Transactions

Industrial Submarket Dashboard

Town of Mount Royal

3.1%

$5.42

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

-150

-100

-50

0

50

100

150

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(T

ho

usa

nd

s S

F)

Absorption Total Vacancy Rate Asking rent

Page 13: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT LEASE TRANSACTIONS

42,201 SF

12,636

2,602

2,000

1,423

260,656

89,862

80,028

49,368

8,277

5,650

Colliers International, 2013 Q3

S.E.C. 9400 Saint‑Laurent

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

563, Lépine Artika for Living Inc.

6600, Saint-Urbain Mike Bouzaglou

101-111, Louvain 6353036 Canada inc.

1395, Mazurette Boulangerie Arka

Les Entreprises Denis Bineau

9350, de L'Esplanade Les Immeubles 9350 Esplanade

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

5455, de Gaspé Atlantic Sportswear MFG Ltd.

RECENT SALES TRANSACTIONS

9380-9400, Sain-Laurent

6585, Saint-Urbain 9285‑2953 Québec Inc.

7337, Jean-Valets 9283‑8309 Québec Inc.

6924-6940, du Parc Édifice Samuelsohn Inc.

7355, Notre-Dame E.

tu

SALES TRANSACTION VOLUME

Average Sale Price (PSF) $74.43 $46.15 q

Average Weighted Asking Rent5 $6.43 $6.93 p

18-MONTH TREND

* change over previous quarter

Availability Rate2 5.3%

New Supply (SF) 0 0

1,703,626

Vacancy Rate1 4.6% 4.2% q

Proportion of Sublease3 0.0% 0.0% tu

4.8% q

MAP OF SUBMARKET SUBMARKET CHARACTERISTICS SUBMARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*

q

Net Absorption4 (SF) -18,865

0

176,897 p

Under Construction (SF) 0 tu

Total Vacant (SF) 1,880,523

• The Montreal West End is made up of boroughs such as Côte Saint-Luc, Hampstead, Côte-des-Neiges, Outremont to name a few • Outremont is an upscale neighbourhood containing large brick homes, fancy shops and a smattering of public buildings • Public transportation includes trains, bus and metro stations • Lots of parks and green space in all of the boroughs • The borough of Outremont enjoys a very central location in the heart of the island of Montreal. The socio-economic profile of the population is in itself an excellent business opportunity for entrepreneurs who operate in the area of goods and services • The Côtes-des-Neiges—Notre-Dame-de-Grâce is the most populous district of the city of Montréal is home to over 165,000 people, or 10% of the population of the city's total

Industrial Submarket Dashboard

Montréal - Centre West

4.2%

$6.93

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

-600

-500

-400

-300

-200

-100

0

100

200

300

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(T

ho

usan

ds S

F)

Absorption Total Vacancy Rate Asking rent

0

2

4

6

8

10

12

14

$0

$10

$20

$30

$40

$50

$60

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Millio

ns

Sales Transaction Volume ($) # of Sales Transactions

Page 14: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT SALES

RECENT LEASE TRANSACTIONS

37,500 SF

15,111

13,658

7,652

5,809

4,000

103,161

81,013

70,000

55,696

37,969

33,996

Colliers International, 2013 Q3

SALES TRANSACTION VOLUME

Average Sale Price (PSF) $77.30 $69.12

18-MONTH TREND

* change over previous quarter

q

q

Availability Rate2 11.9%

$5.18

2425-2441, Michelin Fiducie Yolidail

3401, Industriel ATMPRQ inc.

2085, 2095, 2095A, 2105, Monterey

4479, autoroute Laval O. Coinamatic Canada Inc.

1455, Berlier

1,855,116

Average Weighted Asking Rent5 $5.37

-28,785

1,883,901

Vacancy Rate1 5.4% 5.4% p

Proportion of Sublease3 5.2% 5.1% q

q10.8%

MAP OF MARKET MARKET CHARACTERISTICS MARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*

870, du Curé-Boivin

p

Net Absorption4 (SF) -129,977 p

3765, La Vérendrye Canpar Transport L.P.

Under Construction (SF) 180,000 tu

New Supply (SF) 52,740 0 q

180,000

Total Vacant (SF)

Insulation Operations Investments

9206-8188 Québec Inc.

Gestion Patrick Paradis Inc.

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

RECENT SALES TRANSACTIONS

4512, Louis-B.-Mayer Jean-Philippe Marchand

164, Laurier Garage Patrice Populin

2190, Francis-Hughes Société de Transport de Laval

1000, Armand-Bombardier Autobus Yves Seguin Et Fils Inc.

175, Bellerose O. Penreal Property Fund V Holdings

• Includes areas such as Blainville, Boisbriand, Sainte-Thérèse, Rosemère and Laval • Boisbriand is home to 8 industrial parks and nearly 400 businesses which employ over 6,000 people • Industries present on the North Shore include agri-food, high tech, automotive, plastics and construction • New highway (25) built to link Montréal and Laval • Laval has a diverse economy and has been one of the strongest economies in Québec, with investments totaling over 1 billion dollars for the past 6 years • Since 1981, Blainville has had an industrial park that currently houses more than a hundred companies • The municipality has offered companies a prestigious business park directly accessible from exits 25 and 28 of Highway 15. This zone offers prestigious firms in the technological sector excellent visibility

0

5

10

15

20

25

30

$0

$10

$20

$30

$40

$50

$60

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Milli

on

s

Sales Transaction Volume ($) # of Sales Transactions

Industrial Market Dashboard

North Area

5.4%

$5.18

0.0

1.0

2.0

3.0

4.0

5.0

6.0

-200

-100

0

100

200

300

400

2013 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(T

ho

usa

nd

s S

F)

Absorption Total Vacancy Rate Asking rent

Page 15: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT LEASE TRANSACTIONS

15,111 SF

13,658

7,652

5,809

2,070

103,161

81,013

55,696

33,996

33,919

16,208

Colliers International, 2013 Q3

SALES TRANSACTION VOLUME

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

* change over previous quarter

180,000 tu

New Supply (SF) 52,740 0 q

Fiducie Yolidail

1975, Dagenais O.

4479, autoroute Laval O. Coinamatic Canada Inc.

1455, Berlier

$80.16 q

ATMPRQ inc.

Under Construction (SF) 180,000

$5.76 $5.76

3401, Industriel

Average Weighted Asking Rent5

10.9% q

Average Sale Price (PSF) $83.06

18-MONTH TREND

tu

Net Absorption4 (SF) -187,031 -58,805 p

Total Vacant (SF) 1,416,339

Vacancy Rate1 5.9% 6.1% p

Proportion of Sublease3 6.7% 6.5% q

Availability Rate2 12.2%

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

MAP OF SUBMARKET SUBMARKET CHARACTERISTICS SUBMARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*

1,475,144 p

2085, 2095, 2095A, 2105, Monterey Gestion Patrick Paradis Inc.

Société de Transport de Laval

175, Bellerose O. Penreal Property Fund V Holdings

4220, Autoroute 440 O. Déco Surfaces Canada Inc.

2425-2441, Michelin

9261‑6085 Québec Inc.

RECENT SALES TRANSACTIONS

2190, Francis-Hughes

9206-8188 Québec Inc.

4512, Louis-B.-Mayer Jean-Philippe Marchand

1527, Berlier Les Revêtements Lemay et Beloin

• Easy access to Montréal with the new metro extension into Laval • New highway (25) built to link Montréal and Laval • Université de Montréal has expanded into Laval in the Cité de Savoir • Home to the Laval Technopole International Business Centre, Laval has a diverse economy and has been one of the strongest economies in Québec, with investments totaling over 1 billion dollars for the past 6 years • Laval also has a booming industrial sector capable of meeting diverse business needs with its City of Biotechnology and Human Health, Laval Science and High Technology Park and multiple industrial parks

0

5

10

15

20

25

$0

$5

$10

$15

$20

$25

$30

$35

$40

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Milli

on

s

Sales Transaction Volume ($) # of Sales Transactions

Industrial Submarket Dashboard

Laval

6.1%

$5.76

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

-300

-200

-100

0

100

200

300

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acacn

y (

%)

Ab

so

rpti

on

(T

ho

usan

ds S

F)

Absorption Total Vacancy Rate Asking rent

Page 16: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT SALES

RECENT LEASE TRANSACTIONS

37,500 SF

4,000

70,000

37,969

32,129

25,399

19,702

17,584

Colliers International, 2013 Q3

3375-3377, des Entreprises Simfer Industriel Inc.

RECENT SALES TRANSACTIONS

700, Industriel 9284-9355 Quebec Inc.

1000, Armand-Bombardier Autobus Yves Seguin Et Fils Inc.

1725, Effingham René Bernard Inc.

870, du Curé-Boivin Insulation Operations Investments

Total Vacant (SF)

tu

New Supply (SF) 0 0

3765, La Vérendrye Canpar Transport L.P.

164, Laurier Garage Patrice Populin

$4.98 $4.60 q

18-MONTH TREND

* change over previous quarter

Vacancy Rate1 4.2% 3.9% q

Proportion of Sublease3 0.0% 0.0%

Availability Rate2 11.1% 10.5%

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

408,757 q

Net Absorption4 (SF) 57,054 30,020 q

438,777

0 tu

tu

Under Construction (SF) 0

9247-9724 Quebec Inc.2875, Curé-Labelle

MAP OF SUBMARKET SUBMARKET CHARACTERISTICS SUBMARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*

q

SALES TRANSACTION VOLUME

Average Sale Price (PSF) $67.24 $49.35 q

Average Weighted Asking Rent5

• Includes areas such as Blainville, Boisbriand, Sainte-Thérèse and Rosemère •Boisbriand is home to 8 industrial parks and nearly 400 businesses which employ over 6,000 people • Industries present on the North Shore include agri-food, high tech, automotive, plastics and construction • The Town of Boisbriand welcomes to its territory companies from the most wide-ranging fields of activity. A thriving industrial centre, Boisbriand has effectively harmonized its industrial planning policies with the requirements and needs of the firms

Industrial Submarket Dashboard

North Shore

3.9%

$4.60

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

-0.04

-0.02

0

0.02

0.04

0.06

0.08

0.1

0.12

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(M

illi

on

s S

F)

Absorption Total Vacancy Rate Asking rent

0

1

2

3

4

5

6

7

8

9

10

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Millio

ns

Sales Transaction Volume ($) # of Sales Transactions

Page 17: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT LEASE TRANSACTIONS

429,423 SF

31,197

20,998

20,000

13,690

8,171

365,123

88,614

77,846

17,214

11,348

5,271

Colliers International, 2013 Q3

Dorel Industries Inc.

8525, Ernest-Cormier Numage Inc.

9209, Langelier Rouleaux Graphic Ltée

12345, Albert-Hudon

7539, Henri-Bourassa E. Céramique Pavigres inc.

171, Marien Houle Automobile

12345, Albert-Hudon Gestion Yves Guertin

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

RECENT SALES TRANSACTIONS

8890, Pascal-Gagnon 9282‑6908 Quebec Inc.

10001-10091, Renaude-Lapointe

8900-8910, Pascal-Gagnon 9282‑6908 Quebec Inc.

Average Weighted Asking Rent5 $4.11 $4.09 q

$32.24

18-MONTH TREND

Availability Rate2 9.2%

SALES TRANSACTION VOLUME

Average Sale Price (PSF) $50.48

Total Vacant (SF) 2,884,588

* change over previous quarter

100,000 tu

New Supply (SF) 0 0 tu

q

Under Construction (SF) 100,000

9.1%

q

2,948,598 p

Net Absorption4 (SF) 287,413 q-64,010

q

5.0% 5.1% p

Proportion of Sublease3 8.0% 7.9%

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

MAP OF MARKET MARKET CHARACTERISTICS MARKET SNAPSHOT

Indicators 2013 Q2

Vacancy Rate1

Dundee Industrial REIT

B10-11000 B, Sherbrooke E. Gestion Jean‑Paul Deslauriers Inc.

2013 Q3 Trend*

10930, Sherbrooke E. 9285‑1567 Québec Inc.

9501, Ray-Lawson 8242348 Canada Inc.

• Development of an East Island Greenbelt due to presence of mature forests along Highway 40 • Proximity to Québec City and its many tourist attractions • New residential developments in areas such as Pointe-aux-Prairies and Pointe-aux-Trembles Public • The long-awaited Train de l’Est should facilitate travel to the downtown area

0

1

2

3

4

5

6

7

8

9

10

11

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18

$20

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Millio

ns

Sales Transaction Volume ($) # of Sales Transactions

Industrial Market Dashboard

East End

5.1%

$4.09

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

-0.1

-0.05

0

0.05

0.1

0.15

0.2

0.25

0.3

0.35

0.4

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3A

skin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(M

illi

on

s S

F)

Absorption Total Vacancy Rate Asking rent

Page 18: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT LEASE TRANSACTION

13,690 SF

11,348

5,271

Colliers International, 2013 Q3

18-MONTH TREND

Average Weighted Asking Rent5 $4.51

900 qNet Absorption4 (SF) 80,295

0 tu

New Supply (SF)

0

0 0 tu

Under Construction (SF)

$52.95

* change over previous quarter

$4.27

p

q

Total Vacant (SF) 657,771

Vacancy Rate1 4.5% 4.5% q

Proportion of Sublease3 3.9%

q

4.3% p

Availability Rate2 8.7% 7.6%

RECENT SALES TRANSACTIONS

MAP OF SUBMARKET SUBMARKET CHARACTERISTICS SUBMARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*

656,871 q

SALES TRANSACTION VOLUME

Average Sale Price (PSF) $37.26

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

8900-8910, Pascal-Gagnon 9282‑6908 Quebec Inc.

8890, Pascal-Gagnon 9282‑6908 Quebec Inc.

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

9209, Langelier Rouleaux Graphic Ltée

• Located in the East of the island along Highway 40 • Saint-Léonard is economically attractive to companies and investors because of its geographical location, making it a highly strategic road transportation hub • Saint-Léonard also has many parks and green spaces for playing and relaxing • With over 72,000 inhabitants, Saint-Léonard is by far the most populated sector in the East End of Montréal

0

1

2

3

4

$0

$1

$2

$3

$4

$5

$6

$7

$8

$9

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Millio

ns

Sales Transaction Volume ($) # of Sales Transactions

Industrial Submarket Dashboard

Saint-Léonard

4.5%

$4.27

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

-150

-100

-50

0

50

100

150

200

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(T

ho

usan

ds S

F)

Absorption Total Vacancy Rate Asking rent

Page 19: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT LEASE TRANSACTIONS

31,197 SF

8,171

7,535

2,256

88,614

77,846

Colliers International, 2013 Q3

18-MONTH TREND

* change over previous quarter

SALES TRANSACTION VOLUME

Average Sale Price (PSF) $55.28 $53.52 q

Average Weighted Asking Rent5 $4.21 $4.17

0 tu

New Supply (SF) 0 0 tu

Under Construction (SF)

-68,565 q

2013 Q3 Trend*

0.0%

Vacancy Rate1 3.5% 3.9% p

Proportion of Sublease3 0.0%

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

10001-10091, Renaude-Lapointe Dundee Industrial REIT

MAP OF SUBMARKET SUBMARKET CHARACTERISTICS SUBMARKET SNAPSHOT

Indicators 2013 Q2

Total Vacant (SF) 707,484 776,049 p

6.3% p

tu

Availability Rate2 5.9%

Net Absorption4 (SF) -23,291

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

8525, Ernest-Cormier Numage Inc.

9501, Ray-Lawson 8242348 Canada Inc.

RECENT SALES TRANSACTION

0

q

7539, Henri-Bourassa E. Céramique Pavigres inc.

7535, Henri-Bourassa E. Sécur Plus Alarmes

7100, Jean-Talon E. Forbo Flooring, Inc.

• The borough is located in the eastern end of the island and is traversed by Highways 40 (Metropolitan) and 25 (Louis-Hippolyte-Lafontaine) • Anjou contains the large Les Galeries d'Anjou shopping mall • 30 minutes to Downtown or to the P.E.T. International airport • The Haut-Anjou is characterized by high-end residential complexes and while the Bas-Anjou became the most densely populated area following its development during the 1950s and 1960s.

0

1

2

3

$0

$1

$2

$3

$4

$5

$6

$7

$8

$9

$10

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Millio

ns

Sales Transaction Volume ($) # of Sales Transactions

Industrial Submarket Dashboard

Anjou

3.9%

$4.17

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

5.0

-100

-50

0

50

100

150

200

250

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(T

ho

usa

nd

s S

F)

Absorption Total Vacancy Rate Asking rent

Page 20: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT LEASE TRANSACTIONS

429,423 SF

20,998

20,000

365,123

17,214

Colliers International, 2013 Q3

100,000 tu

Total Vacant (SF) 1,519,333

100,000

Net Absorption4 (SF)

q

230,409 3,655 q

SALES TRANSACTION VOLUME

Average Sale Price (PSF) $18.85 $22.07 p

Average Weighted Asking Rent5

18-MONTH TREND

* change over previous quarter

Vacancy Rate1 6.6% 6.6% q

Proportion of Sublease3

p12.5%Availability Rate2 12.4%

13.6% 13.6% p

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

MAP OF SUBMARKET SUBMARKET CHARACTERISTICS SUBMARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*

1,515,678

New Supply (SF) 0 0

12345, Albert-Hudon Gestion Yves Guertin

tu

Under Construction (SF)

171, Marien

$3.61 $3.83 p

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

RECENT SALES TRANSACTIONS

12345, Albert-Hudon Dorel Industries Inc.

10930, Sherbrooke E. 9285‑1567 Québec Inc.

B10-11000 B, Sherbrooke E. Gestion Jean‑Paul Deslauriers Inc.

Houle Automobile

• Kknown for its oil refineries where Shell converts its Montréal-East refinery to a fuels terminal for North America and the large Lafarge limestone quarry

0

1

2

3

4

5

6

7

$0

$1

$2

$3

$4

$5

$6

$7

$8

$9

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Millio

ns

Sales Transaction Volume ($) # of Sales Transactions

Industrial Submarket Dashboard

Montreal-East

6.6%

$3.83

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

-150

-100

-50

0

50

100

150

200

250

300

350

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(T

ho

usan

ds S

F)

Absorption Total Vacancy Rate Asking rent

Page 21: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT LEASE TRANSACTIONS

22,500 SF

8,457

5,625

5,625

3,750

2,777

222,464

54,425

40,460

33,908

16,957

4,085

Colliers International, 2013 Q3

SALES TRANSACTION VOLUME

Average Sale Price (PSF) $39.81 $45.38 p

Average Weighted Asking Rent5 $5.48 $5.49

18-MONTH TREND

* change over previous quarter

p

New Supply (SF) 0 0 tu

0Under Construction (SF) 0

Total Vacant (SF) 894,250 q873,445

tu

Proportion of Sublease3 1.2% 4.8% p

3.1% tuAvailability Rate2 3.1%

Société Immobilière C2L2 Inc.

MAP OF MARKET MARKET CHARACTERISTICS MARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*

Net Absorption4 (SF) 210,881 20,805 q

Vacancy Rate1 1.9% 1.9% q

620-650, Giffard Rubanco Ltée

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

50, du Tremblay Les Placements Claude Hallé Inc.

2400, Chemin du Lac 8242348 Canada Inc.

2156, de la Métropole

RECENT SALES TRANSACTIONS

Irrigations Tremblay Inc.

2350, de la Province Dundee Industrial REIT

2355, Chemin du Lac 8242348 Canada Inc.

300, d'Arran

3400, Losch Délice de la Forêt

3400, Losch

7, Place du Commerce 9259-7269 Québec inc.

2199, Fernard-Lafontaine SCI Logistics Ltd.

3400, Losch ProtoFab

Distribution AJB

• Cities include Longueuil (the largest on the South Shore), Brossard and Châteauguay • Located on the Southern Shore of the St.Lawrence river • Home to Quartier DIX30, a new shopping and living district • Home also to the training facility for the Montréal Canadiens, Montréal's National Hockey League Team • Longueuil became the third most important city in Québec and a major economic centre in the metropolitan region, with 9 industrial parks, and 11,000 businesses within the city limits

0

5

10

15

20

25

30

35

$0

$20

$40

$60

$80

$100

$120

$140

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Millio

ns

Sales Transaction Volume ($) # of Sales Transactions

Industrial Market Dashboard

South Shore

1.9%

$5.49

0.0

1.0

2.0

3.0

4.0

5.0

6.0

0

50

100

150

200

250

300

350

400

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(T

ho

usa

nd

s S

F)

Absorption Total Vacancy Rate Asking rent

Page 22: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT SALES

RECENT LEASE TRANSACTION

22,500 SF

Colliers International, 2013 Q3

tu

Under Construction (SF) 0

* change over previous quarter

New Supply (SF) 0

tu

Average Weighted Asking Rent5 $6.50 $6.50 tu

--

0

0 tu

18-MONTH TREND

Availability Rate2 4.4%

SALES TRANSACTION VOLUME

Average Sale Price (PSF) $85.33

Net Absorption4 (SF) 7,376

2013 Q3 Trend*

tu

Vacancy Rate1 2.7% 2.0% q

Proportion of Sublease3 0.0% 0.0%

4.8% p

MAP OF SUBMARKET SUBMARKET CHARACTERISTICS SUBMARKET SNAPSHOT

Indicators 2013 Q2

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party should

undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc. and /or its

licensor(s) © 2013 . All rights reserved.

7, Place du Commerce 9259-7269 Québec inc.

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is

physically unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is

not determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or

submarket weighted by the total amount of available square footage in the building .

22,500 p

Total Vacant (SF) 91,501 q69,001

• Brossard is the commercial hub of the South Shore, most businesses located along Taschereau boulevard • Large shopping centre such as Champlain Mall, Place Portobello and the lifestyle centre Quartier DIX30 • Brossard is the most ethnically diverse municipality in Québec • Many parks are scattered throughout the city connecting to other areas of the city by about 37 km of biking paths • Brossard's service and retail sectors fuel the economy while its industrial park has a mixture of light and medium industry

0

1

2

3

4

5

6

$0

$1

$1

$2

$2

$3

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Millio

ns

Sales Transaction Volume ($) # of Sales Transactions

Industrial Submarket Dashboard

Brossard

2.0%

$6.50

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

-50

-40

-30

-20

-10

0

10

20

30

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

As

kin

g N

et

Re

nt

($)

/ V

ac

an

cy (

%)

Ab

so

rpti

on

(T

ho

usan

ds S

F)

Absorption Total Vacancy Rate Asking rent

Page 23: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT SALES

RECENT LEASE TRANSACTIONS

5,625 SF

5,625

3,750

2,400

2,280

2,000

Colliers International, 2013 Q3

0 tu

* change over previous quarter

tu

tu

New Supply (SF) 0

Net Absorption4 (SF)

Average Weighted Asking Rent5 $5.00 $5.00 tu

Under Construction (SF) 0

Total Vacant (SF) 19,000

SALES TRANSACTION VOLUME

Average Sale Price (PSF) -- -- tu

18-MONTH TREND

0

2,894 4,150

Vacancy Rate1 0.1% 0.1% q

Proportion of Sublease3 0.0% 0.0%

Availability Rate2 1.2%

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

MAP OF SUBMARKET SUBMARKET CHARACTERISTICS SUBMARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*

14,850 q

p

1.8% p

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

3400, Losch ProtoFab

3400, Losch Délice de la Forêt

3400, Losch Distribution AJB

4500, Kimber Laboratoire Holizen

3400, Losch Ensachage

4435, Thibault PPG Plus

• Saint-Hubert is the borough of Longueuil which has a wide array of commercial, industrial and agricultural enterprises • The aerospace industry is arguably the most important of these industry sectors • Pratt & Whitney Canada designs and manufactures jet engines at the plant near Saint-Hubert airport • The Canadian Space Agency has its head office in the borough • The École nationale d'aérotechnique, a school that teaches aeronautics is located in the borough • Access to Highway 10 and the Champlain bridge

0

1

2

3

4

5

$0

$2

$4

$6

$8

$10

$12

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Millio

ns

Sales Transaction Volume ($) # of Sales Transactions

Industrial Submarket Dashboard

Saint-Hubert

0.1%

$5.00

0.0

1.0

2.0

3.0

4.0

5.0

6.0

-10

0

10

20

30

40

50

60

70

80

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(T

ho

usan

ds S

F)

Absorption Total Vacancy Rate Asking rent

Page 24: Booklet gma industrial dashboards 2013'q3

2013 Q3

8,457 SF

2,777

222,464

54,425

40,460

16,957

4,085

Colliers International, 2013 Q3

2400, Chemin du Lac 8242348 Canada Inc.

2156, de la Métropole Irrigations Tremblay Inc.

300, d'Arran Société Immobilière C2L2 Inc.

SALES TRANSACTION VOLUME

Average Sale Price (PSF) $36.79 $40.23

18-MONTH TREND

p

Average Weighted Asking Rent5 $5.36 $5.27 q

tu

Under Construction (SF)

317,660 p

0 tu

q

Total Vacant (SF) 310,996

Vacancy Rate1 3.0% 3.0% p

Proportion of Sublease3 0.0% 9.8% p

MAP OF SUBMARKET SUBMARKET CHARACTERISTICS SUBMARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

Net Absorption4 (SF) 99,629 -6,664

0

RECENT LEASE TRANSACTIONS

* change over previous quarter

2355, Chemin du Lac

2350, de la Province Dundee Industrial REIT

New Supply (SF) 0 0

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

Availability Rate2 3.4% 3.3% q

RECENT SALES TRANSACTIONS

2199, Fernard-Lafontaine SCI Logistics Ltd.

620-650, Giffard Rubanco Ltée

8242348 Canada Inc.

• A diversified city that offers a harmonious combination of healthy economic growth and immense areas to be developed • A thriving economy, based largely on cutting edge technology • Offers a whole range of commercial services, from prestige brand name companies to corner stores • Access to public transportation (buses and metro) • Minutes from downtown across the Jacques-Cartier bridges • The cityn of Longueuil has approximately 11,000 companies that are spread across all sectors of economic activity, but mainly the service sector dominates with nearly 80% of the workforce • Bordered by the St. Lawrence Seaway, the area is located near the port of Montreal (less than 15 km), which allows companies to connect to the U.S. Midwest markets and Europe

0

2

4

6

8

10

12

14

16

18

20

$0

$20

$40

$60

$80

$100

$120

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Milli

on

s

Sales Transaction Volume ($) # of Sales Transactions

Industrial Submarket Dashboard

Longueuil

3.0%

$5.27

0.0

1.0

2.0

3.0

4.0

5.0

6.0

-150

-100

-50

0

50

100

150

200

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(T

ho

usa

nd

s S

F)

Absorption Total Vacancy Rate Asking rent

Page 25: Booklet gma industrial dashboards 2013'q3

2013 Q3

33,908 SF

3,572

1,898

Colliers International, 2013 Q3

708-1370, Joliot Curie 9284‑4125 Québec Inc.

SALES TRANSACTION VOLUME 18-MONTH TREND

tu

* change over previous quarter

q

p

Under Construction (SF) 0 0 tu

Average Sale Price (PSF) $47.65 $89.64 p

Average Weighted Asking Rent5 $5.07 $5.19

Net Absorption4 (SF) 100,982 819 q

p

Availability Rate2 4.4%

Total Vacant (SF) 472,753

Vacancy Rate1 2.8% 2.8% q

Proportion of Sublease3 2.3% 2.3%

3.7% q

MAP OF SUBMARKET SUBMARKET CHARACTERISTICS SUBMARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2013 . All rights reserved.

471,934

New Supply (SF) 0 0

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

50, du Tremblay Les Placements Claude Hallé Inc.

1420 A, de Coulomb Armoires Nouveau Concept Inc.

RECENT SALES TRANSACTIONS

• The industrial section of Boucherville covers the western part of the city; from Highway 20 all the way to Longueuil, this section is divided into 3 industrial parks • Boucherville is in close proximity to Saint-Bruno, which has a well-developed industrial park • Access to Highways 30, 10 and 20 • Boucherville is part of an region known as the Montérégie, which has one of the fastest growing populations of all of Québec • The Montérégie area has the highest percentage of manufacturing jobs in the province; close to ¼ of all manufacturing related to consumer products is performed in the Montérégie • The industrial park Boucherville is among the largest in Québec. In this space of about 7 km², there are over 575 companies that employ over 23,000 people

0

1

2

3

4

5

$0

$5

$10

$15

$20

$25

$30

$35

$40

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Milli

on

s

Sales Transaction Volume ($) # of Sales Transactions

Industrial Submarket Dashboard

Boucherville

2.8%

$5.19

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

0

50

100

150

200

250

300

350

400

450

500

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013 Q3

Askin

g N

et

Ren

t ($

) / V

acan

cy (

%)

Ab

so

rpti

on

(T

ho

usan

ds S

F)

Absorption Total Vacancy Rate Asking rent

Page 26: Booklet gma industrial dashboards 2013'q3

2013 Q3

RECENT SALES

24,604 SF

Colliers International, 2013 Q3

MAP OF MARKET MARKET CHARACTERISTICS MARKET SNAPSHOT

Indicators 2013 Q2 2013 Q3 Trend*

Vacancy Rate1 2.2% 2.3% p

Availability Rate2 5.0% 6.0% p

Proportion of Sublease3 0.0% 0.0% tu

Total Vacant (SF) 100,789 104,939 p

q

* change over previous quarter

Net Absorption4 (SF) -22,500 -4,150 p

Under Construction (SF) 0 0 tu

Average Weighted Asking Rent5 $7.23 $7.23 tu

New Supply (SF) 70,000 0

RECENT LEASE TRANSACTION

18-MONTH TREND

330, Aimé-Vincent Triangle Furniture Systems Inc.

This document has been prepared by Colliers International (Quebec) Inc. for advertising and general information only. Colliers International (Quebec) Inc. makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy, and reliability. Any interested party

should undertake their own inquiries as to the accuracy of the information. Colliers International (Quebec) Inc. excludes unequivocally all inferred or implied terms conditions and warranties arising out of this document and excludes all liabilities for loss and damages arising there from. This publication is the copyrighted property of Colliers International (Quebec) Inc.

and /or its licensor(s) © 2012 . All rights reserved.

1. Vacancy rate: The amount of vacant space divided by the building inventory base. Vacant space is physically

unoccupied, and it may or may not be available for lease or sublease. This is physical vacancy. It is not

determined by whether or not a tenant is paying rent on the space.

2. Availability rate: The amount of available space divided by the building inventory base. Available space is

space that is available for lease, sublease or for sale and may or may not be vacant.

3. Proportion of sublease: The ratio of vacant space available for sublease over the total vacant space.

4. Net absorption: The net change in physically occupied space between the current measurement period and

the last measurement period. Net absorption can be either positive or negative. Preleasing activity is not

included in net absorption calculations because pre-leasing does not involve any change in occupancy.

5. Average Weighted Asking Rent: The average asking rent for all buildings in an industrial market or submarket

weighted by the total amount of available square footage in the building .

• Vaudreuil is 30 kilometers West of Montréal and shares a border with the province of Ontario • Vaudreuil-Soulanges' population has been on the rise since the 1990s and is now over 135,000 people while its main city, Vaudreuil, is inhabited by over 32,000 • The city of Vaudreuil is strategically located at the junction of highways 20, 40 ,540, and 30, which makes the city a logistics crossroad • Vaudreuil-Dorion is composed of seven industrial parks bordered by major roads and railways

Industrial Market Dashboard

Vaudreuil

2.3%

$7.23

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

8.0

9.0

10.0

-0.04

-0.02

0

0.02

0.04

0.06

0.08

0.1

0.12

0.14

2012 Q2 2012 Q3 2012 Q4 2013 Q1 2013 Q2 2013Q3A

skin

g N

et

Rent

($)

/ V

acancy (

%)

Absorp

tion (

Mill

ions S

F)

Absorption Total Vacancy Rate Asking rent