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.