CHALLENGE

Bridgestone occupied a significant part of a fully leased office building and had an additional lease with the same landlord for a large industrial warehouse in the immediate neighbourhood.  The expiry dates for these leases were not co-terminus and the landlord was hoping the tenant would entertain an early office renewal that would prevent the tenant from looking at consolidating both operations into a design-build with another landlord without incurring significant expense.

SOLUTION

The Wilson team brought an industrial leasing expert in to help determine what if any existing industrial options were available and a request for proposals to competing landlords convinced the incumbent landlord to allow the tenant to renew both leases with the same expiry date.

RESULTS

Bridgestone was able to leverage their office renewal by incorporating an industrial lease into the renewal negotiation and employing market leverage to extract significantly better financial and strategic terms from their landlord.