...Toronto Office Space...

Amount of office space required

The rule of thumb is to allow 150—250 per sq.ft. per person subject to the limits below (which assume some offices, open space with work stations, and typical amenities):

• 20 people, allow at least 3400 rentable square feet (180rsf/person).
• 30 people, allow at least 4800 rentable square feet (170rsf/person).
• 40 people, allow at least 5800 rentable square feet (160rsf/person).
• 50 people, allow at least 8000 rentable square feet (150rsf/person).

Build-out costs

A $50/rsf build-out provides a modest office installation with standard floor covering (often refinished hardwood floors or commercial grade carpeting) and typical amenities. Many start-ups and sales-oriented companies choose this option for cost and business environment purposes (i.e., a modular layout with open areas accentuated by working groups and stark offices to keep the sales force on the street)-- which can be very effective if done in the right hands. Alternatively, if a more conventional office environment is called for, then begin your cost estimates at $80.00/rsf. Professional offices are more expensive owing to larger offices, upgraded materials, and more amenities. We typically negotiate the base rent to include the cost of a New Building Installation, which significantly reduces up-front tenant costs and amortizes them over the lease term. If build-out costs are high but the tenancy short, make sure there's a provision in the lease that allows you to deduct a portion of the rent to offset the tenant improvements.

Free rent

Free rent and other concessions (e.g., build-out subsidies) are affected by supply and demand. In the current market and especially in Midtown, good space is at a premium and rents have increased to average over $25 to $30/per square foot per year. Downtown, rents have escalated significantly over the past year. A potential can expect 2-4 months gross free rent with a 5 year lease. However this depends with each transaction and with each particular landlord and tenant.

No Fees

Save money using our services and view the best selection of space with no charge to you. We are paid directly by the Landlord’s representative or directly by the Landlord in most cases.

How Much Time?

It typically takes 7-10 days for us to find the office space and 3 business days to start with the negotiation processes.

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Do you need an office space for lease in Toronto?

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