180 Attwell Dr
QUICK FACTS:
Office Renewal
SIZE:
6,996 SQ. FT.
SERVICES:
Tenant Representation
Renewal Services
CHALLENGE
Electro-Federation Canada had occupied space in its building for over 5 years and had 18 months remaining in their lease term. The tenant had previously approached the landlord on its own to discuss an early renewal and what if any concessions might be available from the landlord such as a reduced rent and/or an improvement allowance and was told there was little interest in entering into negotiations for an early renewal. The Wilson Team was then retained to represent the tenant’s interests and negotiate on their behalf.
SOLUTION
A space needs analysis completed by the Occupier team determined the tenant occupied excess office space and a formal Request for Proposals was initiated for the tenant amongst competing landlords who we knew had significant vacancy in their buildings. With this market data in hand we then approached the incumbent landlord to discuss renewal terms.
RESULTS
The client was able to renew prior to their lease expiry, obtained a leasehold improvement allowance reduced their occupancy costs by 16%.
