Cascades II — Rental Market Data

Cascades II's average realized lease rent of $2,517 per month sits $96 below the three-active-comp benchmark of $2,613, with the spread driven by two higher-renting competitors partially offsetting one lower-renting peer. Cascades I at 61 Markbrook Lane (0.13 km, 4 closed leases) averaged $2,388 per month at $2.58 per square foot across 925 square feet, meaning the subject commands $129 more per month than this closest peer. Rowntree Mills at 2901 Kipling Ave (0.17 km, 1 closed lease) averaged $2,800 per month at $2.55 per square foot across 1,100 square feet, placing the subject $283 below that benchmark. Etobicoke on the Humber I at 1 Rowntree Rd (0.81 km, 1 closed lease) averaged $2,650 per month at $2.06 per square foot across 1,287 square feet, with the subject trading $133 lower. The Consulate I at 10 Markbrook Lane (0.18 km) recorded zero closed leases over the trailing 180 days and therefore carries no realized rent benchmark for comparison.

Cascades II's leased rate of $2.53 per square foot across an average 1,000-square-foot suite positions it at a modest premium over the comp average of $2.40 per square foot, yet the total monthly rent still lands below the comp benchmark because the subject's interior footprint is smaller than the peer mean. Against Cascades I, the subject trades at a $0.05 per square foot (1.9%) discount while providing 75 more interior square feet, so the higher nominal rent of $129 reflects the larger suite rather than a rate premium. Against Rowntree Mills, the subject offers a $0.02 per square foot (0.8%) discount and 100 fewer square feet, which together explain the $283 lower monthly rent as a footprint difference rather than a valuation gap. Etobicoke on the Humber I presents the sharpest contrast: the subject commands a $0.47 per square foot (22.8%) premium over that building's $2.06 rate, yet still rents for $133 less per month because the subject provides 287 fewer interior square feet, confirming that the nominal rent variance is driven by suite size rather than asset valuation.

Cascades II offers a 10-item amenity package anchored by an indoor pool, squash and racquetball court, gym, sauna and steam room, BBQ area, dog run, and outdoor children's playground, positioning it as a full-service lifestyle building within its immediate peer set. The subject's BBQ area, dedicated dog run, and outdoor children's playground are features absent from Cascades I, Rowntree Mills, The Consulate I, and Etobicoke on the Humber I, giving families with pets and young children a distinct outdoor-living advantage. Conversely, Cascades I adds a tennis and pickleball court, meeting room, and pet wash station that the subject lacks, while Rowntree Mills and Etobicoke on the Humber I each include an outdoor pool and hot tub that the subject does not offer. The Consulate I similarly provides a hot tub and meeting room not found at Cascades II. The building's lifestyle package—combining aquatic fitness, racquet sports, and family-oriented outdoor space—best serves young families and active professionals in the 30-to-50 age range who prioritize a full indoor-outdoor amenity mix over co-working or luxury spa features.