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Old 09-20-2011, 4:42pm   #1
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Default I think it finally happened! Woo Hoo!

I put an offer to lease on Friday for this unit.
In a city called Oshawa which is east of Toronto.
1600 sq.ft
14 foot ceilings
beautiful green and blue walls
$15.50 sq.ft gross

Everything should be approved tonight and I meet the landlord sometime this week. Possesion date is Oct. 1.

Plans are all offices to be ripped out.
Fix t-bar ceiling
Remove carpet and get the concrete polished
Build a partition that seperates the room.
New showroom will be 29' wide x 40' deep
Work and office area(ma bedroom ) will be 29' wide x 14'deep
All walls will be painted pure white floor to ceiling

Landlord wants a good tenant and dropped the first 3 years rent by $0.50sq.ft. from the original price to help out.
I also asked and received 3 months free rent gross.
3 Parking spots in front will be allocated just for my store with signs stating so.
Any roof, or HVAC issues is taken care of by them. I pay for any general maintenance up to $200 on the HVAC.

The best part is I am doing all of the reno including electrical myself.
I am looking forward to it, cause I love watching the progress. I am not doing the concrete polishing though.







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Old 09-20-2011, 4:45pm   #2
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good luck man.

by "gross" do you mean tripple net?
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Old 09-20-2011, 4:51pm   #3
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Originally Posted by LarsAtTheBeach View Post
good luck man.

by "gross" do you mean tripple net?
Thanks Larry.

I think we are talking about the same thing.
Rent here is broken up this way.

eg. base rent net $1500.00
eg. T.M.I. net $500.00
eg. tax net $260.00

eg. gross rent $2260.00

T.M.I. taxes(property), maintenance, insurance

Generally when you ask for free rent they still make you pay the T.M.I. and tax portion. In my case I have $0 to pay for Nov, Dec, Jan.
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Old 09-20-2011, 4:52pm   #4
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I thought the Lake was East of Toronto?

You using it for residential?
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Old 09-20-2011, 4:56pm   #5
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Move the tanning beds in....
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Old 09-20-2011, 4:57pm   #6
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Move the tanning beds in....
Leave those colors and target the gay clientele.
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Old 09-20-2011, 4:58pm   #7
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Quote:
Originally Posted by kingpin View Post
Thanks Larry.

I think we are talking about the same thing. Rent here is broken up this way.

eg. base rent net $1500.00
eg. T.M.I. net $500.00
eg. tax net $260.00

eg. gross rent $2260.00

T.M.I. taxes(property), maintenance, insurance

Generally when you ask for free rent they still make you pay the T.M.I. and tax portion. In my case I have $0 to pay for Nov, Dec, Jan.


We call the TMI Tripple Net or XXXnet.

sounds like you negotiated a decent deal. Do it yourself? or have an agent?
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Old 09-20-2011, 5:01pm   #8
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Congrats!

Whoever picked the color scheme for that office space should have their eyes poked out.
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Old 09-20-2011, 5:11pm   #9
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Quote:
Originally Posted by repo View Post
I thought the Lake was East of Toronto?

You using it for residential?
No, it's a retail business. Custom picture framing, custom glass/mirror, and high end photo and giclee printing.

Quote:
Originally Posted by Jeff '79 View Post
Move the tanning beds in....
My friends store is beside a tanning salon. The women in and out of there are incredible.

Quote:
Originally Posted by LarsAtTheBeach View Post


We call the TMI Tripple Net or XXXnet.

sounds like you negotiated a decent deal. Do it yourself? or have an agent?
I don't have an agent and negotiate leases myself. The landlord has an agent that I negotiated through.

Quote:
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Congrats!

Whoever picked the color scheme for that office space should have their eyes poked out.
It used to be a cybercafe. I guess that kinda explains the colours.
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Old 09-20-2011, 8:13pm   #10
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Congrats

Paint will be a BIG improvement
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Old 09-20-2011, 8:23pm   #11
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Is that Canadian dollars or U.S.D?
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Old 09-20-2011, 8:25pm   #12
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Is that Canadian dollars or U.S.D?
Doesn't matter much anymore

XE: (CAD/USD) Canadian Dollar to US Dollar Rate

2,260.00 CAD = 2,273.22 USD
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Old 09-20-2011, 8:25pm   #13
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Pics of tanning clientele?
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Old 09-20-2011, 8:34pm   #14
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Canadian dollar has been falling lately.
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Old 09-20-2011, 8:34pm   #15
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Pics of tanning clientele?
Pics of ex-wives?
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Old 09-20-2011, 8:41pm   #16
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Good luck on the new venture Mike.
So, how many stores will you have then? What's the master plan??? IMWTK.......
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Old 09-20-2011, 8:44pm   #17
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Looks like a Miami Vice set. Enter Crocket and Tubbs.
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Old 09-20-2011, 8:50pm   #18
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Good luck on the new venture Mike.
So, how many stores will you have then? What's the master plan??? IMWTK.......
This will be the 6th business I think.
Plan is to stick with it and not get sidetracked.

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Looks like a Miami Vice set. Enter Crocket and Tubbs.
:auto:
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Old 09-20-2011, 8:54pm   #19
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Quote:
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Looks like a Miami Vice set. Enter Crocket and Tubbs.
dat show was kewl
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Old 09-20-2011, 9:06pm   #20
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Awesome! Good luck!!!
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