AdamS
Active Member
The general rule in retail is to have a GROC Gross Rent to Occupancy Cost of 10% or less. So if we assume the Gross rent is $200 PSF on 20K SF, that's ~$4M per year in rent. So a healthy operator would need to do at least $40M in revenue to support that cost. For Grocery, the target GROC is sub 5% since the margins are so low.I think it's disappointing that the only use people can think of for that space is an Apple store. I think it says a lot about the retail landscape (there is almost no mid-market retailers who imagine their retail spaces as places for experiences) and the current cultural landscape of Toronto.