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'Mad scramble': Toronto restaurant sector sees flurry of dealmaking amid closures, struggles to pay rent

from Financial Post

'Mad scramble': Toronto restaurant sector sees flurry of dealmaking amid closures, struggles to pay rent Financial Post A rapid rise in restaurants closing coupled with the number of them struggling to pay rent has led to a flurry of dealmaking involving brokers, landlords, tenants and realtors for some of Toronto’s most sought-after commercial spaces, according to multiple industry insiders. In some cases, landlords are striking different deals with different tenants, and forcing tenants to sign non-disclosure agreements about the terms of their respective deals with each other. In other cases, landlords are renegotiating leases out of fear that rapidly declining rent prices will cause tenants to seek cheaper premises. READ MORE

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