Case Study – Warehousing and Distribution Facility, Mississauga, Ontario
Business owners and operators understand the frustration of expanding their facilities to meet growing demand and fulfill on newly signed contracts and obligations. The time between receiving firm commitment and being expected to deliver is normally a lot more compressed when compared to the process of finding, purchasing, leasing and/or setting up new space.
And so, when it comes time to move, grow, or add new locations to your strategic footprint, you want to get this process completed reliably, in a timely manner, and according to your financial parameters. Otherwise, you may need to delay or back out of agreements; which no firm ever wants to have to do, as it may contaminate future relations with clients, vendors, or suppliers.
Unfortunately, you cannot simply search online or make a few phone calls to landlords or investors. The gap in information you may collect, and the overall negotiating position you would place yourself in would make it difficult to get any deal done.
Therefore, your best bet is to turn to a broker or team that understands the marketplace, has a deep network to find opportunity, and has the requisite track record and experience to execute when the chance arises.
We were able to do just this for a Client of ours, as you will read below, and the end result will hopefully pay dividends in the years to come as they can now focus on the day-to-day business and optimization of their operations.
The Challenge
Team Toronto was tasked with representing a user to quickly and efficiently locate and broker the purchase of a suitable freestanding warehouse and distribution facility. The Buyer intended to own and occupy the property and utilize it for their existing business operations.
As we previously stated, speed was a high priority for the Client. And as is normally the case, quick execution is difficult with extremely low availability rates. Further, if a Seller senses desperation or a need to get a deal done with urgency, it places the power in the negotiation in their hands; something we needed to remain cognizant of.
Features:
- Approximately 120,000 SF
- M3A Industrial Zoning
- 27’ Clear Height
- Located Close to Major Transportation
- Truck Level Doors
- Heavy Power
Transaction
As we do with all of our Clients, we ran a market analysis, tapped into some key relationships, and came up with an overall strategy.
In doing so, we found a number of suitable properties that fit our client’s needs in terms of:
- size,
- location,
- price, and
- specifications.
Once we identified this property as a strong candidate, we pursued the Seller while running our process and ensuring we had options should this one not work out. In the end, we were able to negotiate an offer that got the deal done to both Parties’ satisfaction.
Results
We represented the Buyer in a multiple bid scenario, and successfully negotiated the purchase of the property. Bottom Line: The quick action and aggressiveness of our team helped our client win the property.
If you are thinking of selling your industrial property, please give us a call and we would be happy to discuss your unique situation.
Luis Almeida is the Senior Vice President and Partner of Lee & Associates Toronto, specializing in the acquisition, disposition, and leasing of industrial properties, as well as providing clients such as local and national corporations, landlords, and developers with a full range of real estate services across verticals and industries.
ABOUT LEE & ASSOCIATES
Lee & Associates is a commercial real estate brokerage, management and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment, and appraisal to meet the specialized needs of our clients. For the latest news from Lee & Associates, visit leetoronto.wpengine.com.
To get clarity and direction when looking to sell your building, or to discuss any other real estate needs, please contact Luis at 416.628.8151, email at lalmeida@lee-associates.com, or visit www.leetoronto.wpengine.com.