Airport Lester B Pearson International
Total Cargo (millions of U.S. tons) 0.44
Seaport Port of Toronto
TEU Volume - 2017 (millions) 1.65
Major Highways Hwy 401, Hwy 427, Hwy 409
Number of Intermodal Rail Hubs 1
Number of Class I Rail Lines 2
What is the term of a typical lease? 5 years
How is the rent quoted? Net annual
What is the tenant's option for termination or break? Not typical in this market but 6 months of gross rent is the approximate standard.
Does the tenant have the option to renew? What is the length of the typical option? Multiple 5-year options to renew is standard.
How is the rent determined at renewal? Fair market value; sometimes not less than previous year.
What is the typical rent-free period, if any? 1 month gross + 2 months net on a 5-year term
What is the average rent for a warehouse greater than 50K sq. ft.? C$6.75
What is the average rent for a manufacturing facility greater than 50K sq. ft.? C$6.25
Is there a rent review during the lease? No
What are the average service charges (OPEX)? C$3.00
Who is responsible for the service charges? Tenant
What are the average taxes paid on the lease? C$1.75 per sq. ft. per year
Who is responsible for the property taxes? Tenant
Who is responsible for the utilities? Tenant
Who is responsible for the fit-out costs, if any? Tenant
What is the typical security deposit? First and last months’ gross rent
How is car/truck parking paid? Usually included in rent
Any other occupancy costs? Telecom
What is the typical land tenure? Land leases are typically 50 years.
What is the terminology of the purchase agreement? Agreement of Purchase & Sale
What is the average cost? C$175 per sq. ft.
What is the agency fee and who pays? 2.0% - 2.5% for each of selling broker and listing broker - paid by seller
What is the typical LTV? 80%
What is the average borrowing rate? 4%-5%
What is the mode of payment? Deposit on acceptance, deposit on waiver of conditions, balance on closing
What are the average transaction (closing) costs? Land Transfer Tax at approximately 1.5% plus legal fees
What is the average clear ceiling height? 28'
Average number of dock doors? 1 / 10,000 sq. ft.
Typical column spacing? 52' x 40'
Average parking ratio? 1.5 / 1,000 sq. ft.
Sprinkler system? ESFR
What is the typical power supply? 1,600 amps, 3 phase