>>Case Studies: Formost Media One Group  

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"You allowed us to run our business and not be distracted by a protracted negotiation. You showed us alternative locations, which perhaps caused our landlord concern as it suggested that we were considering relocating. I know that you managed the situation in a tactful and professional manner. The final lease extension you negotiated for us was certainly different from the original that the landlord had presented to us. You were able to lower our costs and the landlord paid for extensive renovations to the premises. You negotiated a 5-year renewal agreement well beyond our expectations, which meant that we were confident in using your services for another 5-year renewal, expiring on March 31, 2016."

Mr. John Gaudet, President and Chief Executive Officer, Formost Media One Group

Formost Media One logo

Client Objectives / Situation

- Lease renewals in existing premises of 50,000 sq. ft. in the year 2006 and again in 2011 were required. The equipment and machinery is very difficult and expensive to move and relocation is the last resort if negotiations for extension/renewal of lease breaks off with the landlord

Activities / Initiatives

- An exclusive tenant mandate agreement was executed and for 5 months the strategy for a successful 5-year lease renewal was plotted

- Numerous alternative properties were inspected and the landlord was anxious that the tenant was considering an alternative location and thus vacating the existing premises

Results Delivered

- Two 5-year terms were negotiated under very favorable terms and conditions to Formost with the next lease renewal period coming in the year 2016

 

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