Paintbox — Rental Market Data

Paintbox's average realized lease rent of $2,328 per month sits $91 below the four-comp benchmark of $2,419, with the spread driven primarily by the building's smaller average suite footprint. The Bartholomew at 200 Sackville St (0.09 km, 6 closed leases) averaged $2,408 per month at $3.85 per square foot across 624 square feet, placing Paintbox $80 lower on a monthly basis. One Park West at 260 Sackville St (0.14 km, 5 closed leases) realized $2,780 per month at $3.68 per square foot over 800 square feet, a $452 gap attributable almost entirely to the 215-square-foot size differential. One Park Place South at 55 Regent Park Blvd (0.15 km, 18 closed leases) closed at $2,348 per month, $3.82 per square foot, and 623 square feet—just $20 above Paintbox's realized rent. One Park Place North at 170 Sumach St (0.17 km, 14 closed leases) averaged $2,138 per month at $4.20 per square foot across 535 square feet, the only comp where Paintbox commands a higher monthly rent at $190 above.

Paintbox's leased rate of $4.07 per square foot across 585 square feet positions the building at a per-space premium over three of four nearby active competitors while delivering fewer interior square feet than each of them. Against The Bartholomew (624 sq ft, $3.85 per square foot), Paintbox commands a $0.22 per square foot (5.7%) premium but provides 39 fewer square feet, meaning the lower nominal rent reflects the compact footprint rather than a weaker per-space valuation. One Park West (800 sq ft, $3.68 per square foot) shows the widest gap: Paintbox trades at a $0.39 per square foot (10.6%) premium yet delivers 215 fewer square feet, so the $452 monthly rent difference is a space-volume trade-off, not an asset-quality discount. One Park Place South (623 sq ft, $3.82 per square foot) mirrors this pattern with a $0.25 per square foot (6.5%) premium and 38 fewer square feet. The exception is One Park Place North (535 sq ft, $4.20 per square foot), where Paintbox trades at a $0.13 per square foot (3.1%) discount below the comp's rate while providing 50 more square feet—here the higher nominal rent is a direct function of the larger interior footprint, not a per-space premium.

Paintbox offers a nine-item amenity suite—concierge and security, party and lounge room, meeting room, gym and fitness centre, rooftop terrace, media and theatre room, BBQ area, garden and courtyard, and games and billiards room—that covers core social and wellness needs but falls short of the sport-specific and remote-work features its immediate peers have layered in. The Bartholomew adds a yoga studio, spin studio, and pet wash station; One Park West includes a business centre and dining room with kitchen; One Park Place South stacks in a full court suite (basketball, tennis/pickleball, squash), a sauna and steam room, EV charging, and a piano lounge; and One Park Place North contributes an indoor pool, squash court, basketball court, EV charging, and a piano lounge. Paintbox's garden and courtyard is a genuine differentiator absent from The Bartholomew and One Park Place North, offering outdoor green space in a dense Sackville Street corridor. The package best serves cost-conscious young professionals and small households who prioritize a walkable downtown location, a functional gym, and social gathering space over the full-court athletic and aquatic programming that defines the heavier-amenity competitors.