RENOVATION WORK- TI ALLOWANCE: For a lease with an initial term of 5 years, an allowance of $25 per square foot is included, granted by the landlord for leasehold improvements to the premises, and this allowance can go up to $40/sq.ft. for a 10-year lease. These renovation works can be carried out using this allowance either by the landlord or by the tenant (to be discussed, certain conditions apply). N.B.: The base rent is subject to an annual increase (CPI Montreal region - to be determined).
The Additional rent for 2025 is estimated at 17,94$/sq.ft. (subject to annual adjustments based on actual costs) which includes: property, business and school taxes, elevators, cleaning of the leased premises, garbage removal, electricity-heating-air conditioning consumption in the premises, building security and alarm, building maintenance/repairs, exterior window cleaning, management, amortization and others (refer to the 2025 expenses budget).