International Industrial Company Cresa

Client

Superficie

Industrie

Emplacements

Services Fournis

Équipe Cresa

Cresa Office

Client Objectives

An industrial client moved to a new location and engaged Cresa Toronto to review its initial two-year reconciliations to ensure compliance with their lease agreement.
The client had the right to use a specific number of non-assignable parking spaces and had the option to convert some into reserved spaces in the parking structure located behind the building.
While the client chose not to convert any parking spaces, the landlord improperly recovered major capital costs incurred to upgrade the reserved parking area.

The Cresa Toronto team initiated a dialogue with the landlord to clarify information and observations, and to correct the improper recovery.
After a series of respectful yet assertive communications, the landlord agreed to adjust the reconciliation, removing the reserved parking depreciation.
Thanks to this adjustment, the client realized an immediate future savings of over $200,000.