Market intelligence. Transaction management.
THE POWER OF MARKET INTEL & NEGOTIATIONS: $119,000 IN SAVINGS AND MAJOR LANDLORD'S WORK
Our client was investing over $100,000 in revamping their whole showroom in Quebec City. They started demolition with 1 year left in the current term and 1 option to renew the lease for 5 years. Furthermore, the base rent was over the local market compared to other similar buildings.
Landmark met with the landlord on site to negotiate the renewal transaction based on relevant and tailored market intelligence. It was critical to perform this in person.
Landmark was able to achieve a 10-year lease extension agreement with a 19% reduction in base rent which represents $119,000 savings over the term. In addition, significant landlord’s work was included, such as replacing the roof.