Airport Montreal-Pierre Elliott Trudeau International Airport
Montreal-Mirabel International Airport
Total Cargo (millions of U.S. tons) 0.10
Seaport Port of Montreal
TEU Volume - 2017 (millions) 1.54
Major Highways Hwy 15, 13, 20, 25, 30, 40, 440, 640
Number of Intermodal Rail Hubs 3
Number of Class I Rail Lines 2
What is the term of a typical lease? 3-5 years
How is the rent quoted? Net annual
What is the tenant's option for termination or break? Typically, after 3rd year if 5-year lease with 6 months’ notice.
Does the tenant have the option to renew? What is the length of the typical option? Almost always. Typical option is 3 to 5 years.
How is the rent determined at renewal? At market rent for similar buildings typically negotiated 6 months in advance.
What is the typical rent-free period, if any? 1-2 months for 3- to 5-year leases
What is the typical rent escalation? Rate of Inflation/CPI or 2%-3%
Does the tenant have the right to sublet? Yes, with landlord's consent.
What is the average rent for a warehouse greater than 50K sq. ft.? C$5.25 - $5.50 per sq. ft. per year
What is the average rent for a manufacturing facility greater than 50K sq. ft.? C$5.50 - $5.75 per sq. ft. per year
Is there a rent review during the lease? No
What are the average service charges (OPEX)? C$2.75 - $3.75
Who is responsible for the service charges? Tenant
What are the average taxes paid on the lease? C$1.75 - $2.50 per sq. ft.
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? Last 2 months
How is car/truck parking paid? Usually free for industrial
Any other occupancy costs? Water tax, business tax, occupancy permit (costs differ by geography)
What is the typical land tenure? 40- to 50-year leaseholds
What is the terminology of the purchase agreement? Purchase and Sale Agreement
What is the average cost? C$65 - $85
What is the agency fee and who pays? 3%-5% paid by the seller
What is the typical LTV? 60%-80%
What is the average borrowing rate? 4%-5%
What is the mode of payment? Deposit held and applied to purchase price at closing along with balance of payment.
What are the average transaction (closing) costs? Transfer tax of 1%-2% plus legal fees
What is the average clear ceiling height? 18' to 24' for existing; 28' for new construction
Average number of dock doors? 1 / 10,000 sq. ft. (new construction)
Typical column spacing? 40' x 40' (new construction)
Average parking ratio? 1 / 1,000 sq. ft.
Sprinkler system? Standard or ESFR for newer product
What is the typical power supply? 600 volts / 200 amps