Small Downtown Commercial Real Estate Toronto – Downtown West

Address	Available Space (sf)	Asking Net Rental Rate (psf)	Asking Estimated Additional Rent (psf)	Asking Gross Rental Rate (psf)	Asking Monthly Rate	Asking Annual Rate
1 Atlantic Avenue	1,586	$12.00	$9.37	$21.37	$2,824.40	$33,892.82
110 Spadina Avenue	1,274	$29.00	$1.25	$30.25	$3,211.54	$38,538.50
110 Spadina Avenue	2,101	$29.00	$1.25	$30.25	$5,296.27	$63,555.25
111 Peter Street	2,615	$15.00	$15.33	$30.33	$6,609.41	$79,312.95
111 Peter Street	1,733	$15.00	$15.33	$30.33	$4,380.16	$52,561.89
116 Simcoe Street	1,918	$18.50	$19.78	$38.28	$6,118.42	$73,421.04
116 Spadina Avenue	1,608	$17.75	$9.25	$27.00	$3,618.00	$43,416.00
116 Spadina Avenue	1,976	$15.75	$9.25	$25.00	$4,116.67	$49,400.00
119 Spadina Avenue	2,653	$18.75	$14.15	$32.90	$7,273.64	$87,283.70
129 Spadina Avenue	2,000	$30.00		$30.00	$5,000.00	$60,000.00
130 Spadina Avenue	2,775	$17.75	$10.00	$27.75	$6,417.19	$77,006.25
130 Spadina Avenue	1,153	$17.75	$10.00	$27.75	$2,666.31	$31,995.75
14 Duncan Street	2,163	$12.50	$16.50	$29.00	$5,227.25	$62,727.00
171 East Liberty Street	1,835	$20.00	$7.80	$27.80	$4,251.08	$51,013.00
171 East Liberty Street	1,500	$20.00	$7.80	$27.80	$3,475.00	$41,700.00
179 John Street	1,771	$14.00	$14.56	$28.56	$4,214.98	$50,579.76
20-30 Maud Street	1,255	$18.00	$8.00	$26.00	$2,719.17	$32,630.00
208 Adelaide Street W	2,567	$35.00		$35.00	$7,487.08	$89,845.00
219 Dufferin Street	2,171	$22.95	$4.69	$27.64	$5,000.54	$60,006.44
219 Dufferin Street	1,071	$22.95	$4.69	$27.64	$2,466.87	$29,602.44
219 Dufferin Street	1,745	$22.95	$4.69	$27.64	$4,019.32	$48,231.80
23 Fraser Avenue	2,000	$18.50	$4.26	$22.76	$3,793.33	$45,520.00
24 Duncan Street	2,746	$15.00	$15.40	$30.40	$6,956.53	$83,478.40
26 Soho Street	1,177	$16.75	$13.95	$30.70	$3,011.16	$36,133.90
26 Soho Street	1,537	$12.00	$13.95	$25.95	$3,323.76	$39,885.15
30-34 Duncan Street	2,159	$28.50		$28.50	$5,127.63	$61,531.50
317 Adelaide Street W	1,351	$29.00		$29.00	$3,264.92	$39,179.00
317 Adelaide Street W	2,700	$29.00		$29.00	$6,525.00	$78,300.00
326 Adelaide Street W	1,493	$11.75	$10.25	$22.00	$2,737.17	$32,846.00
33-35 Fraser Avenue	1,381	$12.75	$11.25	$24.00	$2,762.00	$33,144.00
33-35 Fraser Avenue	1,942	$15.75	$11.25	$27.00	$4,369.50	$52,434.00
366 Adelaide Street W	2,988	$29.00		$29.00	$7,221.00	$86,652.00
366 Adelaide Street W	1,400	$29.00		$29.00	$3,383.33	$40,600.00
49 Spadina Avenue	1,600	$20.00	$7.75	$27.75	$3,700.00	$44,400.00
517 Wellington Street W	1,556	$20.00	$10.95	$30.95	$4,013.18	$48,158.20
543 Richmond Street W	1,178	$14.00	$9.55	$23.55	$2,311.83	$27,741.90
555 Richmond Street W	1,830	$16.00	$10.55	$26.55	$4,048.88	$48,586.50
57 Spadina Avenue	2,700	$15.00	$10.93	$25.93	$5,834.25	$70,011.00
662 King Street W	2,329	$21.50	$10.70	$32.20	$6,249.48	$74,993.80
67 Mowat Avenue	2,640	$27.00	$1.44	$28.44	$6,256.80	$75,081.60
67 Mowat Avenue	1,660	$27.50	$1.44	$28.94	$4,003.37	$48,040.40
675 King Street W	1,487	$23.00		$23.00	$2,850.08	$34,201.00
8 Camden Street	1,878	$19.00	$7.00	$26.00	$4,069.00	$48,828.00
99 Atlantic Avenue	1,253	$15.50	$11.29	$26.79	$2,797.32	$33,567.87
99 Atlantic Avenue	2,400	$15.50	$11.29	$26.79	$5,358.00	$64,296.00

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!

Lennard Commercial Real Estate – Available Listings

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!

Commercial Real Estate Brokers Reports Toronto

Click on the picture above to enlarge.

Only 4 brokerages have released Q4 numbers to the public.

Jones Lang – (Q4 09) – http://www.joneslanglasalle.ca/Canada/EN-CA/Pages/Research.aspx

Cresa – (Q4 09) – http://www.cresapartners.com/tenantsguide.asp

CBRE (Q4 09) – http://www.cbre.ca/EN/Research/ (Toronto report requires a subscription / password – I have signed up and it’s attached)

Cushman (Q3 09) – http://www.cushwake.com/cwglobal/jsp/kcLanding.jsp?Country=GLOBAL&Language=EN

DTZ (no reports since Q4 08) – http://www.dtzbarnicke.com/Client/JJB/JJB_LP4W_LND_WebStation.nsf/page/Regional+Reports

Avison Young – (no reports since Q4 08) – http://www.avisonyoung.com/Research/#marketreports

Smith Company – Newsletter from November – http://www.smithcompany.ca/trends.htm

Small Suites for Lease in the Toronto Financial Core

Address	Available Space (sf)	Asking Net Rental Rate (psf)	Asking Estimated Additional Rent (psf)	Asking Gross Rental Rate (psf)	Asking Monthly Rate	Asking Annual Rate
1 Queen Street E	1,400	$22.00	$26.26	$48.26	$5,630.33	$67,564.00
1 Richmond Street W	1,544	$18.50	$21.15	$39.65	$5,101.63	$61,219.60
10 King Street E	2,720	$18.00	$19.42	$37.42	$8,481.87	$101,782.40
10 King Street E	1,441	$18.00	$19.42	$37.42	$4,493.52	$53,922.22
110 Yonge Street	2,100	$20.00	$21.41	$41.41	$7,246.75	$86,961.00
121 King Street W	2,462	$26.50	$25.44	$51.94	$10,656.36	$127,876.28
121 Richmond Street W	2,410	$12.00	$16.50	$28.50	$5,723.75	$68,685.00
133 Richmond Street W	2,329	$14.00	$14.97	$28.97	$5,622.59	$67,471.13
141 Adelaide Street W	1,728	$16.00	$23.67	$39.67	$5,712.48	$68,549.76
141 Adelaide Street W	1,837	$15.00	$23.67	$38.67	$5,919.73	$71,036.79
144 Front Street W	2,152	$18.00	$15.40	$33.40	$5,989.73	$71,876.80
145 King Street W	2,550	$28.50	$27.74	$56.24	$11,951.00	$143,412.00
155 University Avenue	1,143	$18.00	$19.68	$37.68	$3,589.02	$43,068.24
170 University Avenue	1,324	$18.50	$20.61	$39.11	$4,315.14	$51,781.64
170 University Avenue	2,023	$18.50	$20.61	$39.11	$6,593.29	$79,119.53
18 King Street E	2,733	$23.00	$19.41	$42.41	$9,658.88	$115,906.53
20 Adelaide Street E	1,560	$18.00	$19.90	$37.90	$4,927.00	$59,124.00
20 Toronto Street	2,078	$16.00	$18.95	$34.95	$6,052.18	$72,626.10
330 Bay Street	2,313	$20.00	$18.81	$38.81	$7,480.63	$89,767.53
330 Bay Street	1,440	$20.00	$18.81	$38.81	$4,657.20	$55,886.40
357 Bay Street	1,740	$18.00	$19.39	$37.39	$5,421.55	$65,058.60
357 Bay Street	1,200	$18.00	$19.39	$37.39	$3,739.00	$44,868.00
36 Toronto Street	2,957	$20.00	$19.39	$39.39	$9,706.35	$116,476.23
36 Toronto Street	1,432	$20.00	$19.39	$39.39	$4,700.54	$56,406.48
360 Bay Street	1,955	$18.00	$18.74	$36.74	$5,985.56	$71,826.70
366 Bay Street	1,371	$18.00	$19.62	$37.62	$4,298.09	$51,577.02
390 Bay Street	1,271	$20.00	$20.08	$40.08	$4,245.14	$50,941.68
401 Bay Street	2,675	$22.00	$23.17	$45.17	$10,069.15	$120,829.75
55 York Street	1,281	$18.00	$20.89	$38.89	$4,151.51	$49,818.09
60 Yonge Street	2,150	$17.50	$19.47	$36.97	$6,623.79	$79,485.50
67 Yonge Street	2,886	$16.50	$18.88	$35.38	$8,508.89	$102,106.68
67 Yonge Street	1,950	$12.00	$18.88	$30.88	$5,018.00	$60,216.00
69 Yonge Street	1,326	$13.00	$19.04	$32.04	$3,540.42	$42,485.04
8 King Street E	2,621	$19.00	$19.97	$38.97	$8,511.70	$102,140.37
8 King Street E	1,761	$19.00	$19.97	$38.97	$5,718.85	$68,626.17
80 Richmond Street W	2,607	$19.00	$17.79	$36.79	$7,992.63	$95,911.53
80 Richmond Street W	1,560	$19.00	$17.79	$36.79	$4,782.70	$57,392.40
80 Richmond Street W	1,219	$19.00	$17.79	$36.79	$3,737.25	$44,847.01
90 Adelaide Street W	1,035	$19.95	$20.65	$40.60	$3,501.75	$42,021.00

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!

5 things to consider when leasing office space

1.    Term of the Lease: This first office lease will probably be one of the bigger commitments and liabilities of your business. Make sure the lease term is flexible and is within your budget based on current cash flow not future projections. Most small businesses start with a one-to-two-year lease, although in this economy, month-to-month lease may be more readily available.

2.    Location, Location, Location: The location of your first office is a balance of price and quality of life. Focus on a location  convenient for employees (or future employees) and one that is priced right. Commute times can have a drastic effect on your employees’ quality of life and should be taken into consideration. Consider your safety. Have there been break-ins in the neighborhood recently? Would an employee feel comfortable working in the building alone, or walking to their car or public transportation after dark? All of these issues should be considered when considering your first office.

3.    Amenities: What restaurants, coffee shops and other businesses are available nearby that will make your employees’ lives more comfortable? 

4.    Expansion or Reduction of Space: If things go well, you will be thinking about business expansion and you don’t want your space or your lease to hold you back. It’s important to have a conversation with the owner about how much expansion space is available and an option to break your lease if it’s not available. If business is not going well, it is important to have an option to sublease your space or to buy out of the lease obligation.

5.    Parking/Public Transit: Transportation and parking are two of the most pressing issues for many communities. The proximity to public transportation and affordable and convenient parking are extremely important.  The more transportation options the better.

Real Estate Listings – DTZ Barnicke and Ashlar Urban

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!

Downtown West Space for Lease – small offices

Address	Available Space (sf)	Asking Net Rental Rate (psf)	Asking Estimated Additional Rent (psf)	Asking Gross Rental Rate (psf)	Asking Monthly Rate	Asking Annual Rate
1 Atlantic Avenue	1,586	$12.00	$9.37	$21.37	$2,824.40	$33,892.82
110 Spadina Avenue	1,274	$29.00	$1.25	$30.25	$3,211.54	$38,538.50
110 Spadina Avenue	2,101	$29.00	$1.25	$30.25	$5,296.27	$63,555.25
111 Peter Street	2,615	$15.00	$15.33	$30.33	$6,609.41	$79,312.95
111 Peter Street	1,733	$15.00	$15.33	$30.33	$4,380.16	$52,561.89
116 Simcoe Street	1,918	$18.50	$19.78	$38.28	$6,118.42	$73,421.04
116 Spadina Avenue	1,608	$17.75	$9.25	$27.00	$3,618.00	$43,416.00
116 Spadina Avenue	1,976	$15.75	$9.25	$25.00	$4,116.67	$49,400.00
119 Spadina Avenue	2,653	$18.75	$14.15	$32.90	$7,273.64	$87,283.70
129 Spadina Avenue	2,000	$30.00		$30.00	$5,000.00	$60,000.00
130 Spadina Avenue	2,775	$17.75	$10.00	$27.75	$6,417.19	$77,006.25
130 Spadina Avenue	1,153	$17.75	$10.00	$27.75	$2,666.31	$31,995.75
14 Duncan Street	2,163	$12.50	$16.50	$29.00	$5,227.25	$62,727.00
171 East Liberty Street	1,835	$20.00	$7.80	$27.80	$4,251.08	$51,013.00
171 East Liberty Street	1,500	$20.00	$7.80	$27.80	$3,475.00	$41,700.00
179 John Street	1,771	$14.00	$14.56	$28.56	$4,214.98	$50,579.76
20-30 Maud Street	1,255	$18.00	$8.00	$26.00	$2,719.17	$32,630.00
208 Adelaide Street W	2,567	$35.00		$35.00	$7,487.08	$89,845.00
219 Dufferin Street	2,171	$22.95	$4.69	$27.64	$5,000.54	$60,006.44
219 Dufferin Street	1,071	$22.95	$4.69	$27.64	$2,466.87	$29,602.44
219 Dufferin Street	1,745	$22.95	$4.69	$27.64	$4,019.32	$48,231.80
23 Fraser Avenue	2,000	$18.50	$4.26	$22.76	$3,793.33	$45,520.00
24 Duncan Street	2,746	$15.00	$15.40	$30.40	$6,956.53	$83,478.40
26 Soho Street	1,177	$16.75	$13.95	$30.70	$3,011.16	$36,133.90
26 Soho Street	1,537	$12.00	$13.95	$25.95	$3,323.76	$39,885.15
30-34 Duncan Street	2,159	$28.50		$28.50	$5,127.63	$61,531.50
317 Adelaide Street W	1,351	$29.00		$29.00	$3,264.92	$39,179.00
317 Adelaide Street W	2,700	$29.00		$29.00	$6,525.00	$78,300.00
326 Adelaide Street W	1,493	$11.75	$10.25	$22.00	$2,737.17	$32,846.00
33-35 Fraser Avenue	1,381	$12.75	$11.25	$24.00	$2,762.00	$33,144.00
33-35 Fraser Avenue	1,942	$15.75	$11.25	$27.00	$4,369.50	$52,434.00
366 Adelaide Street W	2,988	$29.00		$29.00	$7,221.00	$86,652.00
366 Adelaide Street W	1,400	$29.00		$29.00	$3,383.33	$40,600.00
49 Spadina Avenue	1,600	$20.00	$7.75	$27.75	$3,700.00	$44,400.00
517 Wellington Street W	1,556	$20.00	$10.95	$30.95	$4,013.18	$48,158.20
543 Richmond Street W	1,178	$14.00	$9.55	$23.55	$2,311.83	$27,741.90
555 Richmond Street W	1,830	$16.00	$10.55	$26.55	$4,048.88	$48,586.50
57 Spadina Avenue	2,700	$15.00	$10.93	$25.93	$5,834.25	$70,011.00
662 King Street W	2,329	$21.50	$10.70	$32.20	$6,249.48	$74,993.80
67 Mowat Avenue	2,640	$27.00	$1.44	$28.44	$6,256.80	$75,081.60
67 Mowat Avenue	1,660	$27.50	$1.44	$28.94	$4,003.37	$48,040.40
675 King Street W	1,487	$23.00		$23.00	$2,850.08	$34,201.00
8 Camden Street	1,878	$19.00	$7.00	$26.00	$4,069.00	$48,828.00
99 Atlantic Avenue	1,253	$15.50	$11.29	$26.79	$2,797.32	$33,567.87
99 Atlantic Avenue	2,400	$15.50	$11.29	$26.79	$5,358.00	$64,296.00

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!

South Korea Unveils Stunning Eco Dome Environmental Center

Original Post

The National Ecological Institute of South Korea recently released plans for a large-scale nature reserve complete with an incredible series of eco domes, an education center, and an environmental think-tank. Designed by SAMOO, the Ecorium Project will be a striking environmental center comprising thousands of acres of open space in addition to greenhouses and a visitor center. Much like the Eden Project in the UK, the Ecorium Project will serve to educate people about nature, and provide a space for study of the world’s eco-systems and how best to protect them.

The Ecorium Project comprises a 33,000 sq meter nature reserve including a large wild plant area and a wetland reserve. In the center of the park is a large system of interlinking wedge-shaped greenhouses. These greenhouses will feature advanced systems capable of adjusting the internal conditions based on the outside climatic conditions in order to minimize energy usage indoors. The exterior of each greenhouse is built out of metal panels, low-iron and low-e double glazing, as well as wood and plexiglass. Seen from above the greenhouses will appear as a sinuous river.

The purpose of the National Ecological Institute is to study nature’s converging eco-systems while ensuring the safety, stability and the harmonious coexistence of humans and nature. A spokesperson for the NEI says, “The NEI will play a important role as a think tank for research and policy making. Additionally, this institution will foster and nurture the general public’s awareness, educate and [promote] the importance of the environment through exhibitions and education programs.”

Colliers Office Market Report and Forcast Toronto and GTA – 2010

Click on Toronto Real Estate Market report below to enlarge the picture!

For additional information on the market or for your own free custom survey of the market place please call Chris at 416-992-9869 or Contact Us here!

Lease Summary Services

One of the services I offer my clients is a lease summary.  As you gain more experience with Lease in the commercial real estate industry there are lots of little items you can pick off that may or may not be negotiable or key dates you need to keep track of within the Lease.  I have attached a lease summary I have recently completed for a client outlining some of the issues the tenant needs to be aware of prior to his renewal at the end of 2010 as an example.

LEASE SUMMARY
for
ABC INC.(“Tenant”)
and
BIG MEAN LANLDORD(“Landlord”)

Rentable Area of Premises 1,995 sf (section 1.1 (f) page 1)

Commencement Date January 1, 2006

Expiry Date: December 31, 2010  (section 1.1 (g) page 1)

Basic Rent Years 1-5                     $8.00 per rentable square foot (section 1.1 (i) page 1)

Rent Deposit $4,283.53 first month’s rent and GST  (section 1.1 (j) (i) page 1)

Security Deposit $4,461.42 without interest (section 1.1 (j) (ii) page 2)

Default Rate Prime plus five percent per annum (section 3.1 (n) page 3)

Relocation The Landlord shall have the right from time to time, on not less than 60 days’ Notice, to relocate the Premises to other premises within the Building having approximately the same area. The Landlord shall provide approximately the same quality of Leasehold Improvements. The Landlord shall cover the cost of moving, reprinting stationary and supplies and disconnection and connection of telephone, computer equipment and systems. (section 8.6 page 16 & 17)

Alterations by Tenant (section 9.2 page 17) The Tenant may from time to time at its own expense install Leasehold Improvements and alter existing Leasehold Improvements provided that:

1. a. All Alterations shall require the prior written approval of the Landlord;

1. b. The Tenant shall furnish the Landlord with two complete sets of professionally prepared working drawings. The Tenant shall pay to the Landlord, on demand, the costs of the examination of such drawings plus an administration fee of 15% for such costs.

Removal of Improvements and All Leasehold Improvements shall immediately

Fixtures become the Landlord’s property.  The Tenant shall at its cost, remove such Leasehold Improvements, wiring, cables and related devices and restore the Premise to the then current base building standard at the expiry of the Term. (section 9.3 page 18)

Permitted Use The Tenant shall continuously use the whole of the  Premises only as a business office and consulting office. (section 10.1 page 19)

Tenant’s Insurance Commercial general liability insurance not less than $5,000,000.00 in respect of each occurrence. (section 12.1)

Transfers The Tenant shall not enter into, consent to, or permit any Transfer without the prior written consent of the Landlord. The Tenant shall pay to the Landlord reasonable charges and all costs incurred in respect of the proposed Transfer. (section 12.1)

(e) The Landlord at the time has, or will have in the next three month period, other premises in the Building suitable for leasing to the proposed Transferee;

(f) The basic and additional rent payable by the Transferee is less than the Basic Rent and Additional Rent payable by the Tenant; and

(g)   The proposed Transfer is (i) an existing tenant of any building owned or managed by the Landlord or any of its affiliates within the same market area as determined by the Landlord; (ii) a consulate, embassy, trade commission or other representative of a foreign government; (iii) a government , quasi-government or public agency, service or office; or (iv) a call centre, school or telecommunications centre.

Tenant’s Notice, Landlord’s Right to Terminate (section 12.2 page 23, 24) The Landlord shall, within 15 days after having received such Transfer Notice and all requested information, notify the Tenant either that:

1. It consents or does not consent; or
2. It elects to terminate this Lease

Overholding The Tenant has no right to remain in possession ofthe Premises after the end of the Term. Should the Landlord provide consent to remain in the Premises after the end of the Term, the Tenant becomes a month-to-month tenant, at a monthly Basic Rent equal to 150% of the monthly amount of Basic Rent payable during the last month of the Term. (section 16.3 page 29)

Option to Renew Tenant gives the Landlord not more than twelve  (12) months (December 31, 2009) nor less than nine (9) months (March 31, 2010) notice prior to the expiry of the initial Term. Tenant will have the right to extend the Term for a further period of five (5) years. (Schedule “E” 2)

Parking Tenant has two (2) parking stalls in the Building at $150.00 per stall per month. Monthly rent is subject to change from time to time. (Schedule “E” 3)

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