New Lease, Project Management
PROJECT MANAGEMENT ON TIME AND ON BUDGET
Our client was located in a building inherited through an acquisition in the past in the small municipality of Dryden, Ontario. There were three primary real estate challenges associated with this location:
The building was old and suffering from a number of deficiencies and therefore not in compliance with the client’s standards. The quality of the building, coupled with the landlord’s unwillingness to remediate the problems, meant that relocation was the best option moving forward.
The client was on a month-to-month lease, putting their tenancy at risk.
Dryden is a tertiary market with essentially no existing industrial inventory that could fit the client’s requirements.
Local client’s management introduced Landmark to a contact with available industrial land, but with little experience in the construction of industrial facilities.
Landmark guided the client through the process of creating a detailed scope of work which could act as an outline for the construction of a new facility. Landmark worked to coordinate and ensure timely delivery of the project despite the new landlord being difficult to communicate with on a regular basis.
The conclusion was relocation into a newly constructed freestanding building with a good yard component in a challenging market.
Additionally, Landmark was able to secure this location on a 5-year term when a 10-year term would have been more typical.