Office Leasing in Toronto
Toronto Office Space for Lease, Professional Office Space for Lease
Allen Mayer, Real Estate Broker specializes in the leasing office space in Toronto. If your business requires 1,000 sq.ft. or 100,000 sq.ft. We can assist your professional office requirements. Toronto Office Space is rarely a turnkey situation. Office space is usually customized for Tenant specific requirements. Office Lease terms are usually a minimum of Five ( 5 ) to a Ten (10 ) year term.
Most Toronto office space for lease is not posted on the MLS system. Professional leases are typically conducted through real estate brokerages. or off-book listings or exclusive office leasing. Allen Mayer has access to these listings and would more than pleased to assist.
It is important that you as the potential Tenant have your own individual representation. This way you are independently represented and protected through the offer-to-lease transaction.
How Much Office Space Does My Company Require?
Below you will find a handy list of square footage figures to help you calculate how much space you might need for your next office. Of course, these are only guidelines – I recommend that we set up a meeting prior to touring properties to establish your specific office space requirements.
- Typical President’s Office – 300 to 400 sq. ft.
- Typical Vice-President’s Office – 225 to 300 sq. ft.
- Typical Executive’s Office – Average 150 sq. ft.
- Typical Associate’s Office – Average 100 sq. ft.
- Manager Workstations – 64 to 80 sq. ft.
- Workstations – (Can vary depending on function) 36 to 48 sq. ft
- Conference Rooms – approx. 25 to 30 sq. ft. per person (conference table) – this can vary based on conference room usage
- Server Room – 80 to 200 sq. ft. but depends upon the amount of usage.
- Mail/Copy Room – 100 to 150 sq. ft. but depends upon the amount of usage.
- Reception Area – 125 to 200 sq. ft. for receptionist and seating for 2 – 4 people; 200 to 300 sq. ft. for receptionist and seating for 6 – 8 people.
- Lunch / Break Room – 100 sq. ft. with no seating / 150-225 sq. ft. with a table that seats 4-6 people
- Circulation (inclusive of hallways, closets, etc…) – Typically add 30-40% on top of the total sq. ft.
- Loss Factor – Typically add 20% to total sq. ft. inclusive of circulation space. This will vary based on the building age and construction, but 20% is a good starting estimate.
Commercial real estate is far more complex than that of a residential property. I can guide you through the process.
Understanding the market rates for lease, and the cost of purchase require careful study and dedication. Let an expert guide you. Contact me today.