With commercial transactions, buyers or tenants are considered buyer clients.
The costs of a warehouse in the Toronto GTA area range from $8.00 to $15.50 sq. ft. net rent, the rate increases with clearance height particularly over 22 ft. This is only an approximation based on offered lease rates.
Further to the net rent, there is an additional cost factor for taxes maintenance and the landlord’s building insurance (TMI) which can range from $5.00 to $9.50 per square feet. Therefore the total cost may range from $13.00 to $25.00 per square feet plus H.S.T. TMI is a true hard cost to the landlord. To calculate the cost of rent the formula is as follows:
Total sq. ft. x (net rent + TMI) = annual rent / 12 = monthly rent
HST must be paid on all commercial leases. There will be additional costs such as tenant insurance, utilities, telephone, and internet. Please note most commercial leases are on a net\net\net basis.
If you are a buyer client; our commission fees are paid directly to our brokerage by the landlord on successful completion of a transaction.*
To become a client of our brokerage it will be necessary to engage our services. Our team’s focus is commercial, industrial, office sales, and leasing. I trust you will be in touch with my office to see if we can assist you further.
Allen Mayer | Broker