Office Building Manitoba
The Paris Building, Winnipeg

SITUATION

A major tenant in the historical Paris building vacated, leaving the building in disrepair and 100% unoccupied.  The building was sold, with the plan to reposition the asset and lease up the property.

SOLUTION

Our approach to building value for this specific asset included:

  • Develop strategy to reposition the building by upgrading base building / tenant premises to meet the current requirements of the office environment.
  • Focus leasing to obtain a strong Government tenant base and obtain 100% occupancy of the building.

OUTCOME

We re-branded the building and a major Government tenant was initially landed.  The remainder of the building was leased to other government programs and third party tenants.  NewWest oversaw all capital improvement projects and the Landlord and tenant fit-ups for the new tenants.  Subsequently, the building has sold twice for significant capital gains and McCor has retained the management throughout.

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