Commercial Rental Spaces in Montreal
Commercial space in Montreal is a dynamic marketplace that changes on a regular basis. Many people who visit Louer.com pay attention to the listings of office spaces for lease. In fact, the commercial real estate market in this city offers numerous options to interested investors.
There is more than 80 million square feet of commercial space for rent in the Greater Montreal Area, with the amount of available space usually varying between 1 000 to 225 000 sq. ft. Compared to other large US and Canadian cities, the cost of leasing Montreal office space in the downtown area is by far the most affordable.
Categories of Commercial Rental Spaces
Commercial space rentals in Montreal are categorized as Class A, B, or C, depending on the quality of the building, its architectural design, functionality, year of construction and location.
- Class A commercial buildings are the most superior quality buildings or commercial space. They feature modern construction with state-of-the-art functionality, architectural design, infrastructure, life safety and mechanical systems. A majority of the commercial buildings in Montreal are classified under this category. Moreover, these Class A commercial spaces are still renting at eye-catching rates.
- Class B commercial buildings are the second-highest quality type of office space or building. They are usually highly functional, well-located facilities that are more than 10 years old. Class B buildings usually have a design that is less than desirable. However, they can be renovated and reclassified as Class A.
- Class C commercial buildings is usually characterized as suboptimal, architecturally obsolete, and are typically located in less desirable areas. In this class, buildings are usually more than 25 years old and have not been renovated. As a result, the space for rent is relatively dated and commands the lowest rental amounts.
Leasing Commercial Space
Generally, commercial and office space in Montreal is leased on a yearly basis. However, the real estate market in Montreal provides alternative options of relatively shorter terms. The most flexible option is provided by the executive office suites. However, these rental spaces generally rent at a premium when compared to typical Montreal commercial rental spaces.