9 buildings • 1.1M SF • Scarborough, Durham, east GTA
Meridian's portfolio tends to be older stock at competitive rents, which can be attractive on paper. Tenant experience is mixed, with the most frequent complaints concentrated in operating cost transparency, renewal negotiations, and slow maintenance in their east-end properties.
One in four tenants leaves Meridian at renewal. Of those who stay, roughly a third report signing at above-market rents. If you are considering a Meridian building, industrio recommends negotiating renewal economics — rent caps, TMI audit rights, maintenance SLAs — into the initial lease, not in year five.
A sample of what current and former Meridian tenants have said, verified against active or closed leases. Names withheld.
"Rent was good going in. Renewal came in 22% over market with a take-it-or-leave-it note. We left. Leaving cost us six weeks of downtime we didn't budget for."
"Building is fine. TMI reconciliation is a mystery every year. No line-item detail unless I escalate, and even then it arrives in July."
"Honestly better than its reputation. Our PM is responsive, the court is quiet, rent is fair. Your experience may depend heavily on which property you're in."
"Urgent call about a failed rooftop unit took two days to get a tech on site in July. Not acceptable for cold storage."
industrio's lease-review tools help you negotiate the clauses that protect you against the issues flagged above — BEFORE you sign.
VOW Brokerage Disclosure. industrio is operated by industrio Realty Inc., Brokerage, a Member of the Toronto Regional Real Estate Board. Listings displayed are from the TRREB MLS® System under TRREB's Virtual Office Website rules. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered via this VOW and may not be used for any commercial or other purpose. Information deemed reliable but not guaranteed accurate by TRREB. MLS®, Multiple Listing Service® and their logos are owned by CREA.