Popular Retail Chain Cresa

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Cresa Team

Cresa Office

client objectives and results

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This popular retail chain store had a portfolio of over 160 leased locations.
Following their lease administrator’s departure, the client decided to contract the lease expense review duties to Cresa Toronto.
The challenges were many as some of the files were handled by their legal department, due to disputes with the landlords.

Cresa Toronto was assigned 40 files that came with major issues and difficulties, which the team successfully brought to completion.

The team identified errors in areas such as:
- Recovery of capital expenditures in the fiscal year in which they incurred versus being amortized over the assets’ economic lifespan;
- Duplication of management fees;
- Recovery of administration fee on excluded expenses;
- Recovery of excluded expenses (i.e. structural, expenditures at the landlord’s sole cost and expense, capital items, etc.);
- Recovery of a management fee that exceeded the maximum cap allowed.
Overall, this Cresa Toronto client recovered $260,000 in savings in just 1 year.