OPTIMIZING OUR CLIENT’S OPERATIONS THROUGH RELOCATION
In order to optimize our client’s operations in Calgary, AB, Landmark recommended and helped to achieve a repositioning of the client’s store. The client was originally located in a retail-oriented property paying a high net rental rate. Understanding that our client’s clientele and business requirements were more focused on business to business sales (rather than retail), Landmark facilitated a relocation to a more industrial area where the client could enjoy lower rental rates, a more efficient and smaller floor plate, and better access to their targeted clients.
Landmark secured a 5-year Term of Lease with rental rates at the low end of fair market value. The relocation and associated reduction in Base Rent will save the client $249,930 over the course of the term, while positioning its store in a location more suited to the client’s growing business to business needs. Our client’s tenancy was protected by two further 5-year Options to Renew included in the Lease and the Landlord contributed $30,000 Tenant Improvement Allowance, one month of Free Rent, and two months of Fixturing Period in order for the client to complete the necessary work required to open the Premises for business.
In order to secure this location, a zoning verification of use and variance was required. Landmark helped guide the client through this process.
The new location also allows for the modernization of the client’s operations. Other characteristics of the space included larger overhead drive-through doors and a covered and secure parking area for the fleet.