June, 1999
"Free Parking?"
One More Aldgate Advantage
For years it has been our policy to offer free parking at all of our locations. We've always been against "nickel and diming" our customers so we don't invoice tenants for light bulb changes, service calls or other small maintenance items. However, charging for parking has become the norm at most office buildings and if you add up the numbers it has really blossomed into big business for landlords. With parking rates going from as low as $20.00 per month up to $100.00 per month per car, this can amount to a windfall on a large development. So much for nickels and dimes.
Get Out Your Calculator
Parking charges have a severe implication on a tenant's bottom-line rent as well. If you figure the average parking charge of $ 45.00 per car per month, and the average parking ratio of three cars per thousand square feet, then the additional rental payable by the tenant would be $1.62 per square foot! On a basis of four cars per thousand square feet, it's even more costly at $2.16 per square foot! That certainly adds up over the average lease term.
We are proud to say that we still do not charge for parking (despite the obvious financial benefits for us) as we believe that our all-inclusive rental rate is much more straightforward and attractive to our existing and prospective tenants. Their clients, visitors and staff are not faced with parking charges and can enjoy the quick, convenient and easy access to our ample parking facilities.
I think sometimes we as landlords, as well as our tenants forget what a benefit free parking can be. It really becomes quite clear however when you do the math.
Eleven Years and Still Kicking!
It's hard to believe that on June 1st it will be The Aldgate Group's 11th anniversary. How time flies, and oh, what Larry and I have experienced and learned since 1988 when we split off on our own from Magnolia Builders. We're looking forward to the next eleven!
Rave Reviews
This new Film @ 11 format was very well accepted last issue and I thank those who took the time to phone or write me with your comments and best wishes.....
Steve Goldberger
President, The Aldgate Group
Just Listed!
7,820 sq.ft. of contiguous office space
at the Aldgate Corporate Centre at Markham and Ellesmere Rd.
Available September/99.
Excellent signage and exposure.
Free Parking
and more.
Call Larry or Steve for details
416-431-9622
Film @ 11 is published from time to time and for no particular reason by The Aldgate Group and distributed to t he Real Estate Brokerage community and to our clients. We hope you enjoy our little rag and we welcome your input. Please send us your comments, complaints or suggestions. We are always looking for ways to improve our service. Our goal is to be the best "Landlords" in town.
We can be reached at:
2100 Ellesmere Road, Suite 200
Toronto, ON M1H 3B7
ph: 416-431-9622
fax: 416-431-9797
e-mail: [email protected]
or visit
Giving new meaning to the word "Landlord"
| The Aldgate Story | |
| Office Space Listings | Industrial Space Listings |
| Film @ 11 (Our newsletter) | Steve's Favorite Links |
| Property Info | City of Toronto Info |  Testimonials and Customer Comments |
 Contact us |