Entrepreneurship & Small Business

Leasing space in eaton centre/yorkdale/square one mall

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[OP]
Newbie
Feb 27, 2006
54 posts
1 upvote

Leasing space in eaton centre/yorkdale/square one mall

I'm trying to find out more information on leasing store space in Eaton centre, yorkdale mall or square one either one. I'm looking at opening a lounge of some type in the near future but after browsing the respective sites I couldnt find any information on how much it actually costs to lease a place. All sites just say blah blah blah without actually saying anything worthwhile. Does anyone have any idea on how to get information regarding this or know anyone who has a store in the malls to get an estimate on how much it costs ? I need to set a benchmark for the rent so I could calculate how my business would run. Will be looking forward to replies. Thank you.
30 replies
Jr. Member
Dec 23, 2006
192 posts
g8o4lyf wrote:
Jul 22nd, 2007 3:56 am
I'm trying to find out more information on leasing store space in Eaton centre, yorkdale mall or square one either one. I'm looking at opening a lounge of some type in the near future but after browsing the respective sites I couldnt find any information on how much it actually costs to lease a place. All sites just say blah blah blah without actually saying anything worthwhile. Does anyone have any idea on how to get information regarding this or know anyone who has a store in the malls to get an estimate on how much it costs ? I need to set a benchmark for the rent so I could calculate how my business would run. Will be looking forward to replies. Thank you.
Phone them up :)
Member
Aug 17, 2005
260 posts
4 upvotes
Unless you already have an established business with a very good business plan, the "Tier 1" malls will not lease a store to you.

Typically there is a base rent and in addition you have to pay the landlord a percentage of sales above breakeven. It's best to contact the leasing managers directly, however don't expect to open your first location in Yorkdale or Eatons.
Deal Addict
User avatar
Dec 31, 2003
1576 posts
6 upvotes
Toronto
i think you need to contact cadilla fairview as they look after the malls and the leasing...now the malls you choose i hope ur prepared to pay top dollar as they are high end malls and will cost you and arm and a leg
Member
Aug 17, 2005
260 posts
4 upvotes
It's not really about cost because the traffic volume can support high rents. The problem is that landlords only wants well known tenants. Don't expect them to even tell you how much rent is. If you have to ask...
Deal Expert
May 30, 2005
38518 posts
1090 upvotes
Richmond Hill
I think some thread on RFD once mentioned that a space at Vaughan Mills was well over 10K a month, so at Cadallic Fairview Malls, expect something perhaps a tad lower but close to that. Yes, that puts you at $120K for your first year.

Just FYI, the kiosks/trollies we see in the malls aren't cheap either, around 3-4K per month, from what I've read from the various threads on RFD.
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Member
Aug 17, 2005
260 posts
4 upvotes
Yorkdale carts are $7000 a month PLUS 15% of sales over breakeven.
[OP]
Newbie
Feb 27, 2006
54 posts
1 upvote
Thanks for the opinions people but I think I can afford to have my store downtown someplace. I just came across icx.ca and they have a lot of commercial space for lease around downtown toronto so until I'm considered 'A' class material I wont be attacking any of the malls anytime soon ;)
Newbie
Jul 24, 2007
4 posts
Ontario
If you dont mind me asking what type of business are you running?
[OP]
Newbie
Feb 27, 2006
54 posts
1 upvote
Not running anything at the moment...but I'm doing my homework and writing up my business plan right now before I apply for loans and stuff. Looking forward to opening a so called multimedia lounge :cheesygri can't really tell you all of it but thats the general idea. Add in that once a week club night alongwith loads of other goodies :lol:
Deal Fanatic
User avatar
Aug 19, 2001
5086 posts
28 upvotes
Vancouver
If you want to run a business, you've got to stop being scared to phone up landlords to get lease offers.

Once you talk to a bunch of agents/landlords, you'll start to get a feel for what approximate rent for a location will be so you can make an educated guess when planning.
[OP]
Newbie
Feb 27, 2006
54 posts
1 upvote
I'm not scared about calling anyone. I'm still in the preliminary stages of setting things up and since there was a Entrepreneurship & Small Business forum i just posted here to see what responses I get. When its time I will obviously have to call them to get the proper response. Thanks for the tip still.
Sr. Member
User avatar
Jan 9, 2005
672 posts
Vancouver, BC
for any reasonable space in a tier one mall like SQ1 depending on floor space expect to pay 30k per month. You may also not even be approved to be in the mall depending on the lease arrangments with other tenants..FYI do not hesitate to call them up, they are mostly friendly and will be more than glad to give you info. (Cadillac fairview might have other malls that need tenants and would not be rude to you incase you were interested in a B or C type mall)
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Deal Addict
User avatar
Apr 19, 2002
2035 posts
321 upvotes
Calgary
Unless you're familiar with leasing, you might want to hire a lease consultant. They can help with negotiations and guide you along the right direction.
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[OP]
Newbie
Feb 27, 2006
54 posts
1 upvote
Oh yea ? I didnt know they had lease consultants too lol.
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