The CPHA required assistance with negotiations for a full-floor office lease at the Carling Executive Park.
As a result of some changes to their funding, CPHA came under pressure to downsize and decrease rental expenses by mid to late 2010.
As a result of some rights which were inserted into the office lease agreement by our team during the negotiations in 2008, CPHA was able to leverage the termination payment, and competing options in the market outside of the Carling Executive Park in negotiations with the existing landlord to allow them to downsize in late 2010. Our ream approached the negotiation early, before the termination notices were due, and conducted a full survey of options outside of CPHA’s current office complex. A thorough market survey and careful financial analysis uncovered the fact that the CPHA could realize a savings by submitting the termination payment and moving to B class office space. This potential savings was leveraged in negotiations with the existing landlord.
Through an early negotiation, leveraging the rights that our consultants had negotiated into a 2008 lease, CPHA was able to secure a newly fit up A class office space that suited their downsized requirements without having to incur a termination payment expense. The end result was a right sizing of the organization, a tremendous annual savings, and a newly fit up office space that fell within CPHA’s new budgetary parameters, and allowed them to remain in the Carling Executive Park. This same strategy was revived in 2012, when our team Assisted CPHA with a further downsizing and achieved annual savings on rental expenses of over $200,000 per annum on behalf of CPHA.