Clockwork at Upper Joshua Creek - Building 2 — Rental Market Data

Clockwork at Upper Joshua Creek – Building 2 realized an average lease rent of $2,437 per month across 15 closed transactions, which is $211 below the four-comparable benchmark of $2,648 and $189 above the Oakville North submarket average of $2,426. Against Clockwork Building 1 at 1415 Dundas St E (0.02 km, 8 closed leases, $2,544 average rent, $3.57 per square foot, 730 square feet), the subject trades at a $107-per-month lower rent. Emporium II – North Tower at 2480 Prince Michael Dr (0.97 km, 4 closed leases, $2,750 average rent, $2.86 per square foot, 975 square feet) shows the subject at a $313-per-month lower rent. Emporium at Joshua Creek – South Tower at 2470 Prince Michael Dr (0.98 km, 4 closed leases, $3,013 average rent, $3.14 per square foot, 966 square feet) places the subject $576 per month lower. The Wilmot at 1005 Dundas Street E (1.49 km, 31 closed leases, $2,284 average rent, $3.45 per square foot, 664 square feet) is the one competitor where the subject commands a $153-per-month higher realized rent.

Clockwork Building 2 leases at $3.57 per square foot on an average 689-square-foot suite, positioning it at a premium over every active nearby alternative on a rate-per-area basis while delivering less interior space than three of the four comparables. Versus Clockwork Building 1 (0.02 km), the subject trades at identical $3.57-per-square-foot parity but provides 41 fewer interior square feet, so the lower $107 monthly rent reflects the smaller footprint rather than a rate concession. Against Emporium II – North Tower (0.97 km), the subject commands a $0.71-per-square-foot (24.8 percent) premium yet provides 286 fewer interior square feet; the $313 lower nominal rent is entirely a function of the 975-versus-689-square-foot gap, not a weaker asset valuation. The same dynamic holds against Emporium South Tower (0.98 km), where the subject carries a $0.43-per-square-foot (13.7 percent) premium and 277 fewer square feet, producing a $576 lower monthly rent driven by the larger Emporium suite. The Wilmot (1.49 km) is the inverse case: the subject commands a $0.12-per-square-foot (3.5 percent) premium while providing 25 more interior square feet, and still realizes $153 more per month—confirming that the subject's per-area rate holds firm even when the footprint advantage flips in its favor.

Clockwork Building 2 fields an 11-item amenity suite that overlaps heavily with its immediate peers but differentiates on lifestyle and convenience features absent from the Emporium towers and partially absent from The Wilmot. The subject's Pet Wash Station, Hobby Room, and Dining Room & Kitchen are not offered at Emporium II – North Tower or Emporium South Tower, both of which instead lean on aquatic and wellness programming (indoor pool, outdoor pool, hot tub, sauna) that the subject does not carry. Against The Wilmot, the subject adds a Pet Wash Station and Hobby Room while The Wilmot counters with EV Charging, a Yoga Studio, and a dedicated Business Centre. Clockwork Building 1, the sister tower 20 metres away, includes a Yoga Studio that the subject lacks but shares the Rooftop Terrace, BBQ Area, Garden & Courtyard, Pet Wash Station, and Meeting Room. The subject's package—concierge security, gym, rooftop terrace, party lounge, meeting room, dining kitchen, pet wash, hobby room, and automated parcel lockers—skews toward social convenience and remote-work flexibility rather than aquatic or spa programming, making it best suited to young professionals and small households who prioritize a turnkey social floor plan, pet-friendly infrastructure, and on-site meeting space over pool-and-sauna resort-style amenities.