...Toronto Office Space...

The GTA Office Market...

Toronto Office Space Leasing… for many companies can be a major costs for a growing company or an established business. Negotiating the most advantageous lease can save your company substantial costs over the lease period. No offer to lease is standard. They should be drafted keeping in mind the specific needs of the Tenant. Our team will assist you in finding an appropriate office property for your business requirements. With our market knowledge of the Toronto Office Leasing Levels we will be able to provide suggestions, options and alternatives. Once a property is found we will negotiate a lease favourable to our clients.
Please check current office for lease listings.

Engaging our services … to become a client of our Brokerage it will be necessary to engage our services. There are of number of documents that we will review with you prior to signing. These are in accordance to both RECO (Real Estate Council of Ontario) and TREB (Toronto Real Estate Board) our governing bodies. In most cases our commissions are paid by the Landlord or via his Representatives.

Our team … of professional real estate salespeople will assist in every level to make your leasing experience as effortless as possible. ALLEN MAYER salesperson and Vice President has over 30 years sales and business experience. Mr. Mayer will provide his assistance on each level of the lease negotiation process.

Term of the lease…. Landlords are typically willing to make concessions for longer-term leases. Therefore is it important to consider the future if you requiring expanding or require to sublease. It is important to select a Building and Class of Building that will suit your business needs for today and the term of the lease.

Rent escalations… Fixed rent over longer-term leases is relatively rare. Sometimes, landlords insist on annual increases based on the percentage increases in the Consumer Price Index (CPI). If your landlord insists on rent escalations, try to arrange that a CPI rent increase does not kick in for at least two years. Then, try to get a cap on the amount of each year's increase. If you have to live with a rent escalation clause, consider a predetermined fixed amount.

Common area maintenance, Realty Taxes, Insurance and operating costs…. Take into account operating costs that the landlord will pass on to a tenant. There are various rental costs involved in office leasing. Base Rent per square foot and then additional cost for TMI or common costs. These in normal conditions do increase over the period of the lease. Our team will compare current Toronto Office Leases and advise you if the rates are in accordance with current market conditions.

ALLEN MAYER
Broker
416.633.7767

The GTA Office Market is the sixth largest market in North America. It is the largest office market in the country. As of the end of 2007, it made up 40% of the total amount of office space in Canada.

The GTA office market (including the City of Toronto and the surrounding four regions of Durham, York, Peel and Halton) contains about 14,900,000 sqm of office space. It is the sixth largest office market in North America.

The City of Toronto office space has 116 million sq ft, approximately 73% of the office space in the GTA making Toronto the largest office centre in Canada. Current GTA office space vacancy rate is 7.9%.

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Within the GTA there are three areas: Downtown, Midtown (which extends from Bloor Street to north of Eglinton, along the Yonge Street spine), and Suburban (which includes all other areas in the City of Toronto. Additionally the GTA suburbs from Burlington in the west, to Richmond Hill in the north and Ajax to the East).

The Midtown market's areas offer distinct options for tenants, with the southerly Bloor area at the north end of the Toronto's downtown and the more northerly St. Clair and Eglinton area offering affordable rents while still providing access to amenities and subway lines.

The differing advantages these areas offer to prospective tenants mean that the Toronto's Midtown market has the capability to provide for the needs of many businesses. The market remains active and should continue to maintain its stability, with rental rates moderated by available space.