Corktown District - II — Rental Market Data

Corktown District - II's all-time average realized lease rent of $3,138 per month sits $265 above the four-comp benchmark of $2,873, with the spread driven primarily by the building's larger average suite size rather than a per-square-foot premium across the board. River City I (47 Lower River St/51 Trolley Cres, 0.11 km, 13 closed leases) averaged $2,450 per month at $3.86 per square foot across 637 square feet; Corktown District - 569 King (569 King St E, 0.06 km, 3 closed leases) averaged $2,592 per month at $3.67 per square foot across 717 square feet; Carhartt Lofts (535 Queen Street E, 0.07 km, 1 closed lease) averaged $4,500 per month at $9.00 per square foot across 500 square feet; and Corktown District - 549 King (549 King St E, 0.12 km, 1 closed lease) averaged $1,950 per month at $4.88 per square foot across 400 square feet. Carhartt Lofts' single-transaction sample and 549 King's compact 400-square-foot layout make their realized rents less directly comparable to the subject's 764-square-foot average, while River City I's 13-lease volume provides the most statistically reliable pricing anchor in this micro-market.

Corktown District - II leases at $4.36 per square foot across an average 764 square feet, a rate that undercuts the four-comp blended benchmark of $5.35 per square foot while delivering 200 more square feet than the comp mean of 564. Against River City I (13 closed leases), the subject commands a $0.50 per square foot (13.0 percent) premium but provides 127 more interior square feet, meaning the nominal rent gap of $688 per month is substantially driven by the larger footprint rather than a steeper unit price. Versus Corktown District - 569 King (3 closed leases), the subject trades at a $0.69 per square foot (18.8 percent) premium with 47 additional square feet, a tighter spread where the per-square-foot differential plays a larger role in the $546 monthly gap. Against Carhartt Lofts (1 closed lease), the subject offers a $4.64 per square foot (51.6 percent) discount while providing 264 more square feet, making it the clearest space-for-value play in the set. Corktown District - 549 King (1 closed lease) shows the subject at a $0.52 per square foot (10.7 percent) discount with 364 more square feet, reinforcing that the subject's larger interior consistently offsets its modest per-square-foot premium over the two Corktown siblings and its significant discount to Carhartt Lofts.

Corktown District - II's amenity package—spanning concierge and security, EV charging, a gym, party and lounge room, meeting room, media and theatre room, games and billiards room, a library and reading room, dining room and kitchen, BBQ area, and rooftop terrace—positions it as the most fully equipped option in its immediate peer set. The building's EV charging station and dedicated library and reading room are absent from all four named competitors, giving tenants at 510 King St E on-site vehicle electrification and a quiet study space that neither the 2011 Corktown siblings, the 1999 Carhartt Lofts, nor the 2013 River City I can match. River City I differentiates with a yoga studio, outdoor pool, and garden courtyard that the subject lacks, while Carhartt Lofts offers a pet wash station found nowhere else in this cluster. The subject's combination of indoor social spaces (dining room, games room, theatre), professional infrastructure (meeting room, EV charging), and wellness (gym, rooftop terrace) best serves young professionals and small households who prioritize a turnkey urban lifestyle with on-site convenience over resort-style outdoor amenities.