Lease Renewal
SECURING FAVOURABLE LEASE TERMS FOR OUR CLIENT’S STRATEGIC PROJECT
 

Our client was looking to create a strategy in the Edmonton area market in which they were centralizing and modernizing their Distribution Center operations. This required aligning a number of separate lease expiration dates.

In pursuit of this alignment, Landmark instigated an early 4-year renewal.

In this negotiation, Landmark secured the following:

  • A tenant allowance of $145,899 which can be used towards improvements in the facility or applied towards rental,

  • An amendment to the lease which ensures that the Landlord must provide supporting documentation for any additional rent charge in excess of $5,000 (this was in response to a situation in which the client was being charged $400,000 annually without the right to validate the charges),

  • Below market Net rental rate

 

Favourable terms were secured while supporting the greater strategy of a future centralized Distribution Center which could accommodate automation and modernization of operations.