Brink’s Canada Secures Growth With Better Lease Terms
Brinks 1 Robert Speck Parkway Mississauga Size 24,856 SQ. FT. Quick Facts Expansion & Renewal National Account Client of Jim Wilson since 1993 Focus on Reducing Overhead Services Tenant Representation Renewal Services Brink’s Canada Secures Growth With Better Lease Terms CHALLENGE Brink’s Canada had occupied the full 10th floor at 1 Robert Speck Parkway in the Mississauga City Centre for 10 years and wanted to renew and expand but there was no contiguous space available in the building. SOLUTION A space needs analysis suggested the tenant required growth of 50% and a review of the building determined space was available on the second floor. Because contiguous space was preferred the Occupier team was retained to identify relocation options. A Request for Proposal established the market for the Brink’s requirement and the incumbent landlord was informed they would have to significantly drop their financial expectations on a renewal because of their inability to provide contiguous office space. RESULTS Brink’s renewed it lease on the 10th floor and leased non-contiguous space on the 2nd floor at rates significantly below the landlord’s initial proposal and the Occupier team negotiated further landlord concessions that included free rent, a significantly higher tenant improvement allowance and an option to terminate.