Good Client vs Bad Client

I ran into an old friend on the subway I haven’t seen in a few years.  At one point she asked “So, are you still loving your job?”.  I pondered for a second and replied “Depends on what client I’m working with and what day.”

What do I mean by this?  My business revolves around client relationships and getting deals done.  Some are a lot easier to (and respectful) than others.   I believe the broker relationship should be built around teamwork and a business strategy with mutual trust and respect.  Think about how convenient it would be to pick up the phone, call your trusted broker to outline a requirement, and have them immediately explain what your expectations should be for a project – from budget to timing.  Requirements such as subleasing individual offices to finding short term space pop up all the time.  Even helping you on your renewal by letting you know what the last deal was done for at the building.  To me, having a go to / trusted relationship like this would ease my mind, but I may be biased.

In other words, I bust my butt to help tenants of any size equally, but I go the extra mile for my good clients.  I refer lots of business amongst them and I make sure I’m around when they need me.  My advice, if you meet a trustworthy broker that you get along with, treat them like a partner in your business and not a used car salesman to negotiate with. They will empathize with you and I can guarantee better service, at least that’s the case with my “good clients”.

I’m sure most of you are “good clients” and sorry for venting… but hey… what are blogs for?

Thoughts?

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Colliers Q1 2009 GTA Office Statistics and Sublease Report

Here are two reports from my brokerage – Colliers International.

Colliers Q1 2009 Office Statistics

Colliers GTA Sublease Report

OfficeSearchToronto.com tracks available office space across the GTA. Want a survey or availability report somewhere else in Toronto? Call us at 416-992-9869 or E-mail Me!.

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#FridayFollow and Tech Commercial Real Estate

#FollowFriday – Please?
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Now here’s some more cool office space available in the West end of Toronto. Also have a look at my sublease with b5 Media here!

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OfficeSearchToronto.com tracks available office space across the GTA. Want a survey or availability report somewhere else in Toronto? Are these space too big? Call us at 416-992-9869 or E-mail Me!.

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Commercial Real Estate Survey – 1200 to 2000 sf

A group called me looking for 1,200 to 2,000 square feet but said they were “on a budget”. Here are some of the spaces I sent them and a price list.

Downtown Toronto – Commercial Real Estate Survey – 1200 to 2000 sf

OfficeSearchToronto.com tracks available office space across the GTA. Want a survey or availability report somewhere else in Toronto? Are these space too big? Call us at 416-992-9869 or E-mail Me!.

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My Favorite Brick and Beam Markets – Office Space Toronto

There are three distinct areas of Toronto that offer really cool brick and beam office space.

The Liberty Dufferin market has been increasing in popularity for the last 5 years.  Although there aren’t many restaurants for lunch, it provides slightly cheaper rental rates because of the distance from the financial core. It also offers a great community feeling and some fantastic landlords that really take pride in the services and products they offer like Liberty Market and Carpet Factory.
Liberty Market Video

My favorite brick and beam area is the Spadina corridor between Queen and Front.  Pricing is still reasonable at $2,500 per month per 1000 square feet.  There are tons of great restaurants, pubs, clubs and a fantastic atmosphere – although parking can be troublesome.  The LRT runs up Spadina from Union station and provides great access if employees are coming in by GO train.  The two landlords that dominate this node are WTF Group and Allied Properties – and there’s one player I like – Capitol Buildings.

Finally, I get a lot of calls on the Distillery District in the Downtown East.  This area is what the Liberty Dufferin area was 5 years ago.   Fantastic weekend events through the summer but still lacking during the winter months and a good hike from the financial core.  Pricing is similar to Spadina at $2,500 per month for a 1,000 square foot office.

If you would like any more info on any of these areas, including a list of available space and pricing in your size range call or E-mail Me!.

Do you know any other areas with pockets of Brick and Beam office space?  Do you have extra space you want to Sublease?  We do it all, just give us a call.

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Downtown West – Technology Company Office Space

The Toronto West end is my bread and butter.  I love touring the cool brick and beam office space.  There are some really cool options.  Here are a few.

Please note the attached office space is not listed with OfficeSearchToronto.com but call us first at 416-992-9869 or E-mail Me for floor plans and additional information. If you want to sort out only the available office space listings on this blog, click the link “Available Office Space Toronto” in the Categories section on the bottom right.

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Toronto Financial Core Office Availabilities

Lots of space has come available in the financial core. Here’s the 2nd batch of office space that has recently come available.

Please note the attached office space is not listed with OfficeSearchToronto.com but call us first at 416-992-9869 or E-mail Me for floor plans and additional information. If you want to sort out only the available office space listings on this blog, click the link “Available Office Space Toronto” in the Categories section on the bottom right.

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Too much time uploading space – and nobody calls :-(

Alright followers, I’ve been busting my but to post all new available space on a regular basis (last 4 months) and haven’t had the return I had hoped / expected for so I’m cutting back on this portion of my commitment to my blog (unless there are complaints).

Here’s an idea of what I go through. I received over 400 individual brokers letters and emails on available space over the last 3 weeks and it took 2 hours to sort through thus far (I haven’t posted yet – just sorting them into directories for the various markets). Uploading on issuu.com takes about 15 min per post to convert and organize. Then I actually have to do the written post – another 30 min per Issuu upload.  It takes a team of 12 researchers at Colliers to keep our database up to date (which I have access to) so I’m going to let them do the work.

So, long and short, say goodbye to the brokers letters posted herein and hello to unique property and deal posts. Surveys for any size of space / node can be provided upon request by emailing Chris@officesearchtoronto.com.

Thanks for your time!

Ps. Issuu.com is still a fantastic service for larger pdfs but simply takes to long to do it on a regular post by post basis.

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Commercial Real Estate – Retail space Toronto

- Great retail close to the University of Toronto and trendy little Italy
- 750 square feet of retail in prime corner location
- Great signage opportunities
- Ample windows
- Perfect for restaurant, convenience store or salon spa

and

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Commercial Real Estate Terms – Toronto Canada

Here are some of the key terms, in alphabetical order, that you should be familiar with when looking for Office space in Toronto.

Additional Rent – Any amounts due under a lease that are in addition to base rent. Most common form is operating expense increases.

Agency – Any relationship in which one party (agent) acts for or represents another (principal) under the authority of the latter. Agency involving real property should be in writing, such as listings, trusts, powers of attorney, etc.

Allowance – A set dollar amount provided by the Landlord under a lease to be used by the Tenant for a specific purpose. Examples include allowances for tenant improvements, moving expenses design fees, etc. If the expense exceeds the allowance amount, such excess is the Tenant’s responsibility. If the expense is less than the allowance, the savings are retained by the Landlord unless their agreement specifies otherwise.

Amortization – Payment of debt in regular, periodic installments of principal and interest, as opposed to interest only payments. May also be used in a lease where the landlord incurs costs for additional tenant improvements which are effectively treated as a debt and repaid by tenant over the term of the lease.

Base Rent – A specific amount used either as a minimum rent in a lease (retail) which uses a percentage of sales or overage for additional rent or sets a base onto which is added expenses and taxes in a net lease or increases in those items in a fully serviced lease.

Base Year – The 12 month period upon which a direct expense escalation of rent is based. Typically the calendar year the lease commences.

Commencement Date – The date on which a lease begins. This is typically but not always the day on which the tenant takes possession of the leased space, which usually occurs upon substantial completion of the tenant improvements. (See occupancy Date).

Class – Class is usually used in conjuction with an office property and refers to the quality of property. Class definitions fall with the following guidelines. Class A+: Landmark quality, highrise building with prime central business district locatation (the best of the Class A buildings).

Class A: Generally 100,000 sf or larger (five or more floors), concrete and steel construction, built since 1980, business/support amenities, strong identifiable location/access.

Class B: Renovated and in good locations. Newer building are smaller in size, wood frame construction, and/or in non-prime location.

Class C: Older, unrenovated of any size in average to fair condition.

Common Area – Common area is the area used in common by the tenants of an office building. Common area includes building and elevator lobbies, restrooms and the corridor leading from an elevator lobby to a tenant space.

Free Rent – A concession granted by a landlord to a tenant whereby the tenant is excused from paying rent for a stated period during the lease term.

HVAC – Heating, Ventilation, Air Conditioning. A general term encompassing any system designed to heat and cool a building in its entirety, as opposed to a space heater.

Premises – Typically the entire rentable area leased by lessee. Sometimes used to designate solely the useable area leased by lessee, i.e. that for which the lessee has exclusive occupancy as opposed to the common areas.

Rentable Area – The (square footage) for which rent can be charged. Generally it is the gross area of the full floor less the area of all vertical penetrations (elevator shafts, stairwells, mechanical shafts etc.) Rentable area can be measured in many ways, but the most common measurement for office buildings is according to BOMA standards.

Space Planning – Term is often loosely used. Most often it is the planning of the layout of the interior space of a building to meet the needs of the user. Can also include detailed interior design and preparation of construction drawings. Space planning and interior design only need not be licensed architects. Preparation of construction drawings for permit have to be prepared by architects licensed in the jurisdiction.

Tenant Improvements (TI’s) – Improvements to land or buildings to meet the needs of tenants. May be new improvements or remodeling, and be paid for by the landlord, tenant or part by each.

Turnkey – Referring to an owner making a property ready for a tenant to begin business by having the tenant furnish only furniture, phone and inventory, if any. Turnkey tenant improvements are provided at the landlord’s expense according to plans and specifications previously agreed upon by the parties. Unlike an allowance where the tenant pays for costs in excess of the allowance amount, the landlord bears the risk of construction in a turnkey situation.

Here are some others.

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