How much will companies pay to occupy one of Canada’s most desired office addresses?
#1
Bay Street
Toronto, ON
Average gross rent: $70.14 p.s.f.
Often referred to as 'Canada's Financial Capital', Toronto's Bay Street commands the highest gross rents in the country. Bay Street rents have increased by 4.2 percent over the past year as tenants continue to compete for the limited amount of prime real estate available on the street.
#2
Burrard Street
Vancouver, BC
Average gross rent: $61.52 p.s.f.
Burrard Street remains one of the most desirable office locations in Vancouver. The average gross rent on the street has increased by 6.4 percent since our last report, fueled by strong demand from a growing technology sector. Don’t be surprised to see even higher rents next year as demand is outpacing available supply.
#3
Avenue des Canediens-de-Montreal
Montreal, QC
Average gross rent: $48.28 p.s.f.
Avenue des Canadiens-de-Montreal took over as the most expensive street in Montreal in this year’s report, surpassing long reigning René-Lévesque West Boulevard. Why? Deloitte and L’Avenue, both trophy towers completed in 2017, command the highest rents in the city.
#4
101 Street
Edmonton, AB
Average gross rent: $45.67 p.s.f.
Despite rising vacancy, 101 Street not only held its position as the most expensive office street in Edmonton it also climbed to fourth place on the Most Expensive Streets list this year. The new towers along 101 Street (EAD and Enbridge) and the growing ICE District continues to attract people seeking a live-work-play lifestyle.
#5
Albert Street
Ottawa, ON
Average gross rent: $44.60 p.s.f.
Ottawa’s most expensive street is located within minutes from Parliament Hill and the amenity-rich and pedestrian friendly Sparks Street. Albert Street is set to become even more popular with the completion of the highly anticipated light rail transit line, as it connects the central business district to the surrounding residential areas.
#6
8th Avenue SW
Calgary, AB
Average gross rent: $41.83 p.s.f.
Calgary’s 8th Avenue SW has dropped from second in 2014 to sixth place in this years edition of the Most Expensive Streets. Distressed oil prices continue to impact many tenants in Calgary, putting downward pressure on building rents. The average gross rent on 8th Avenue SW has dropped 8.8 percent from last year’s report and 30.7 percent since 2014
#7
Portage Avenue
Winnipeg, MB
Average gross rent: $38.47 p.s.f.
Part of the Trans-Canada Highway, Portage Avenue is a major artery through Winnipeg. Over the past year, average gross rents have increased by 1.4 percent on the street.
#8
Upper Water Street
Halifax, NS
Average gross rent: $36.32 p.s.f.
Spectacular harbour views continue to draw high-profile tenants to Upper Water Street, which once again claims the top spot as the most expensive office street in Halifax. Its 2017 average rent is down 1.2 percent from a year earlier.
#9
Laurier Blvd
Québec City, QC
Average gross rent: $28.81 p.s.f.
Leasing momentum continues to shift away from the downtown area and into the Sainte-Foy submarket, allowing buildings on Laurier Boulevard to command some of the city’s most expensive rental rates.