CHALLENGE
ATP had purchased Casebank Software which was a client the Wilson team had originally helped negotiate a 10 year lease for office space at 6205 Airport Road. Prior to being purchased by ATP, Casebank renewed for another 10 year term and in the 2nd year of the new term was approached by their landlord on behalf of another tenant in the building who needed to expand on a very tight time line. The landlord had offered to relocate ATP into new space at 5800 Hurontario on what appeared to be attractive financial terms but the tenant was unsure the proposal reflected market or was sufficient to accommodate their leasehold improvements.
SOLUTION
ATP contacted the Wilson team who recommended retaining an independent space planning firm to confirm the proposed premises and allowance were sufficient for ATP’s needs. Due diligence discovered the landlord’s proposal was significantly inadequate to accommodate ATP’s requirements and new terms were proposed.
RESULTS
Was able to leverage the timeline, market conditions and the landlord’s desire to keep both tenants in their portfolio and ATP relocated into new, upgraded premises in a better building at a significant financial saving.
