Leasing space in eaton centre/yorkdale/square one mall

[HunkaHunkaBurningLove]

I wouldn't try to get into a lease without one unless you're very familiar with the leasing business. They know the in's and out's of the leasing biz since they usually represent the landlords. The leasing consultants help out the tenants with negotiations, lease documents, etc.

I haven't used this guy, but he seems quite knowledgeable.

http://www.theleasecoach.com/

This guy is very thorough, but he's based out of the States. Apparently he has done some work for people in Canada though.

http://www.georgevaill.com

[grant]

The trouble with a lease consultant is that large landlords have their boilerplate contracts, and you can take it or leave it. Their portfolios are so large, and the management company is so impersonal, that they don't care if a particular site sits empty for months or a year.

I made an offer to lease a pad in a strip-mall that had been vacant 8 months. We offered $22/sf, the landlord wanted $24/sf and wouldn't budge. The pad's been empty since then, 2 years total.

Another example: a local mall opened up a year ago in a troubled area (international village in gastown). The place is a ghost town, 60% empty, the only thing doing well is the mcdonald's. Nonetheless they'd rather let it sit empty and lose all sorts of money rather than accept less than their premium price of $34-$40/sf + typical high high high CAM. (local leases are more like $20-28/sf).

I'm not suggesting against getting help... but i've talked to "tenant consultants" before and the amount of aid they offer is disapointing.

[valium]

oh yea ? I didnt know they had lease consultants too lol.

hi , im really interested to rent a kiosk in vaugon mills , so please can any one provide me about the rent of kiosk there i will really appreciate this , thx

[flafson]

I don't know figures but i think they will want something in the range of 5k + percentage of what you make.

[DNAMCS]

About a year-ish ago price per square foot at Yorkdale was just a sliver over $425 per sq ft. The cart program is leased differently and prior to moving into a bricks and mortar space you have to survive as a cart for at least two years and have solid profits and returns. In order to get a cart you need to have a well defined business plan. They wont even entertain your cart concept without one.

The only way to bypass the cart program is if you are medical and / or salon beauty. They also heavily audit cart sales and performance. If your not doing well, they can yank you. Hope that helps.

Also..I believe that Yorkdale is now managed by 20 Vic Management.

[retteas]

it was mentioned that the mall takes a percentage of the sales over break even, how do they know you won't cheat them, seems pretty easy to lie about how much you sell

[epik89]

my friend's parents leases a place at sq1

told me it costs almost 10g's a month for rent (cant disclose what store though)

[grant]

it was mentioned that the mall takes a percentage of the sales over break even, how do they know you won't cheat them, seems pretty easy to lie about how much you sell

Planning on hacking your POS system to report inaccurate sales?

If you underreport sales enough to make a big difference in your rent, the mall might get suspicious and audit you.

Most small business owners can't find a way to hack their POS system. And most aren't dishonest enough to commit deliberate fraud like that. And if they were many are paranoid of being caught.

[slowtyper]

Planning on hacking your POS system to report inaccurate sales?

If you underreport sales enough to make a big difference in your rent, the mall might get suspicious and audit you.

Most small business owners can't find a way to hack their POS system. And most aren't dishonest enough to commit deliberate fraud like that. And if they were many are paranoid of being caught.

I never knew that mall stores paid portions of profits to landlands.

But now you can cheat the landlord and the CRA at the same time. Killing two birds and what not!

Anyways I think almost all stores in a mall like Eatons center are run by fairly large to huge companies. I mean really, what store in Eatons center can really be called a small business?

Anyways, this thread is from 2007. I wonder what happened to OP's lounge.