DNA II — Rental Market Data

DNA II's all-time average realized lease rent of $2,480 per month sits $186 below the four-comparable benchmark of $2,666, with the primary gap driven by Massey Square and King West Village Lofts pricing above the subject. Massey Square (1000 King St W, 0.05 km, 2 closed leases) averaged $3,075 per month at $3.86 per square foot across 800 square feet, placing DNA II's rent $595 lower. DNA I (1 Shaw St, 0.05 km, 8 closed leases) averaged $2,481 per month at $4.15 per square foot over 600 square feet, a near-identical figure just $1 below the subject. DNA 3 (1030 King St W, 0.1 km, 33 closed leases) averaged $2,383 per month at $4.71 per square foot across 517 square feet, meaning DNA II commands a $97 higher monthly rent. King West Village Lofts (954 King St W, 0.12 km, 2 closed leases) averaged $2,725 per month at $3.97 per square foot over 718 square feet, with the subject trading $245 below that mark. All four competitors recorded at least two closed lease transactions in the trailing 180 days, so each provides a realized-rent benchmark rather than an asking-price reference.

DNA II's leased rate of $4.11 per square foot across an average 606-square-foot suite undercuts the comp-set average of $4.17 per square foot and 659 square feet, positioning the building as a mid-range value play in this immediate King West pocket. Against Massey Square, the subject commands a $0.25 per square foot (6.5%) premium while providing 194 fewer interior square feet; the lower nominal rent of $595 per month is therefore a footprint effect, not a devaluation of the asset. Against DNA I, the subject trades at a $0.04 per square foot (1.0%) discount while offering 6 more interior square feet, a near-parity trade where the slightly larger suite offsets the marginal rate difference. Against DNA 3, the subject trades at a $0.60 per square foot (12.7%) discount while providing 89 more interior square feet; the $97 higher monthly rent is entirely a function of the larger interior footprint rather than a per-square-foot premium. Against King West Village Lofts, the subject commands a $0.14 per square foot (3.5%) premium while delivering 112 fewer interior square feet, again showing the rent gap is footprint-driven. In every case where the subject's nominal rent diverges from a competitor, the square-footage delta is the primary explanatory variable rather than a shift in asset valuation.

DNA II offers a ten-item lifestyle package that includes a sauna and steam room, yoga studio, and rooftop terrace—three features absent from both Massey Square and King West Village Lofts, its closest older competitors. Massey Square (1000 King St W) provides a gym, party room, games and billiards room, meeting room, and concierge but lacks any aquatic or wellness facilities, a dedicated yoga space, or outdoor rooftop access. King West Village Lofts (954 King St W) similarly omits the sauna, yoga studio, and rooftop terrace while adding a games and billiards room not found at DNA II. Within the Canderel portfolio, DNA I (1 Shaw St) matches most of the subject's amenities but adds a dining room and kitchen that DNA II does not carry, while DNA 3 (1030 King St W) layers on a business centre, rain room, games room, and dining kitchen beyond the subject's offering. The building's wellness-forward package—sauna, steam, yoga, and rooftop terrace—combined with a media theatre room and garden courtyard targets the young professional renter who prioritizes in-building fitness recovery and social space over gaming or formal dining facilities, making DNA II the strongest amenity-to-rent ratio among the 2006-era King West options.