Transaction Management
EXPANSION RENEWAL FOR GREAT LOCATION FEATURES
 

The Challenge

Our client was seeking to expand their current premises located in the Longueuil industrial park, just south of Montreal. The client was already occupying 15,154 sq. ft. in the building.

 

The Solution

Landmark quickly identified an area of 4,023 sq. ft. located immediately adjacent to the current premises. The expansion space was not in good state of repair, so Landmark was able to obtain, in addition to several base building improvements, a leasehold improvement allowance of $85,000 payable to the client for the completion of improvements.

 

The Result

After extensive negotiations, Landmark secured a new 7-year lease with renewal options for the expansion space and a 5-year lease renewal for the current premises (now both lease expiries are co-terminus).

The property is ideally located near major highways and has great features such as parking and ample shipping space. Customers can have easy access to the premises from the front of the premises as this is an important feature for the client.