Shopping Centers for sale in Canada

Reconcile base rent, percentage rent, common-area recoveries, promotions, storage and parking income to leases and receipts. Check abatements, inducements, arrears and related-party tenants before accepting the seller's net operating income.

Review anchor termination, continuous-operation, exclusivity and co-tenancy provisions across all leases. Closure of one major tenant can reduce traffic, allow other tenants to pay lower rent or create wider termination rights.

Not necessarily. Examine each lease for exclusions, caps, administration fees, gross-up rights and capital-cost treatment. Recalculate recoveries against actual property tax, insurance, utilities, security, cleaning and maintenance expenses.

Prepare a lease-expiry schedule showing options, market rent, sales performance, inducements and remaining guarantees. Stress-test simultaneous vacancies and estimate brokerage, fit-out, free-rent and downtime costs needed to replace weaker tenants.

Review title, zoning, environmental history, roof, structure, fire systems, utilities, accessibility and parking. Confirm expansion or redevelopment assumptions against municipal approvals and tenant rights, not only the property's available land.

Inspect paving, drainage, roof sections, HVAC, elevators, lighting and electrical capacity, including EV charging plans. Determine which costs are recoverable from tenants and reduce valuation for unfunded work the owner must absorb.