Downtown, Toronto, Ontario 12 Storey Commercial Office Building 92,000 s.f. |
Problem: Vacancy rate of 70% / Operating Costs extremely high / Building mechanical systems and common areas in dire need of upgrading. Results: Vacancies reduced to 3% within 3 years / Operating costs reduced by 20% the first year and 12% the following year / Elevators refurbished, installed computerized energy management and security systems, major upgrades to chiller and boiler. |
Mid-Town, Toronto, Ontario 8 Storey Commercial Office Building 80,000 s.f. |
Problem: Vacancy rate of 60% / Operating costs too high / Building mechanical systems and common areas required upgrading. Results: Vacancies reduced to 22% in year 1 / down to 2% in year 2 / Operating costs instantly reduced by $2.75 p.s.f. / Relamping of all interior and exterior building areas with energy efficient lighting. Discovery of, and recovery of funds on overpaid contract accounts. |
Industrial, Markham, Ontario 26 Industrial Units – Ground Level, 7 Office Units – Second Level 55,000 s.f. |
Problem: Vacancy rate of 38% / Inconsistencies in area measurements / Property experiencing negative cash flow, unsecured gross & semi-gross leases. Results: Vacancies reduced to 11% in less than 1 year / Re-measurement of the building offered owners an increase in rentable area of 15% / Renewed all expiring leases and renegotiated all others; converting them to triple net at little or no cost to the Mortgagor. |
Condominium, Shelburne, Ontario 52 – Garden Variety Residential Townhouses 62,500 s.f. |
Problem: High accounts receivable / Low reserve fund / Legal fees paid by Corporation. Results: Accounts receivable reduced by 75% within first 11 months / Reserve fund increased in excess of 40% within the first 11 months / Legal fees charged back to individual home owners. |