"Biotech Space for Rent Montreal Laval South-Shore Montreal 514.839.0608"

BIOTECH SPACE FOR RENT MONTREAL LAVAL SOUTH-SHORE OF MONTREAL

Henri Cousineau, Chartered Real Estate Broker

Montreal ranked as North America's lowest-cost location for a biomed lab.

North American Operating Costs Vary by Up to 50% by Site.
And that scenario has prompted many biotech firms to take a sharp-eyed look at the costs of where they are renting space.
A report was just released comparing costs of renting space for biomedical labs in 48 North American locations

And there are considerable bottom-line disparities in different locations, the study reports. The cost of renting space and operating expenditures, in fact, can be 50 percent higher in some locales, The study details annual costs that range from a high of US$12.1 million in San Jose, Calif., to a low of about $8 million in Montreal.

That broad cost range comes from an analysis that focused on what the study called "geographically variable factors," including salaries and benefits, utility bills, rates for renting biotech space, and corporate travel costs.

10 Lowest-Cost for renting space in Biomed Locations

.
1. Montreal	$7,955,000
2. Sioux Falls, S.D.	$7,963,262
3. Athens, Ga	$8,121,568
4. Shreveport, La	$8,202,453
5. Tulsa, Okla	$8,237,917
6. Toronto	$8,452,187
7. Colorado Springs	$8,500,337
8. Charlottesville, Va	$8,517,371
9. Rochester, Minn	$8,547,240
10. Salt Lake City	$8,614,914

Labor the Biggest Cost Component: Unsurprisingly, labor costs (including fringe benefits) were the biggest expenditure detailed in the study. (The study omitted labor costs for "executive management staff . . . as these costs would tend not to vary as significantly by geography, but rather by individual company compensation practices.") Labor expenditures were highest in San Francisco, at $6.2 million year, while they were lowest in Montreal, at $4.7 million a year. Canadian locations' labor-cost performance got a boost from the nation's health-care system, the study reported.

The location experience and compensation surveys point to a lower corporate cost burden for fringe benefits in Canada, largely due to that country's national health-care plan," researchers said. "Boyd projects biomedical industry fringe benefit costs in the U.S. at 27 percent of base payroll costs. Total fringe benefit costs in the Canadian biomedical sites are estimated at 20 percent of annual base payroll costs."

Those lower fringe benefits heightened the cost-reduction profiles for the three Canadian sites included in the study. In addition to Montreal's status as the lowest-cost location, Toronto was the sixth-lowest, and Vancouver was 12th-lowest.
Canadian sites got a further cost-cutting boost from the exchange rate with the U.S. dollar. Boyd researchers used the exchange rate that applied at the time of the study - US$0.637 per 1.00 Canadian dollar. (Early this week, the exchange rate has changed significantly, to US$0.730 per 1.00 Canadian dollar.)

Deep Disparity in Lease, Amortization Costs: The study also detailed a wide range for real estate costs. Researchers defined occupancy costs in the study as leased "Class-A research and office space Biotech in each of the surveyed locations [with] annual costs . . . keyed to effective asking rates.for renting space"

For more information about renting space in biotech in the Greater Montreal area, just call 514.839.0608

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