Office Property Ontario
20 Adelaide, Toronto

SITUATION

The property had an aging mechanical system which was unreliable and energy inefficient. The building rental rates were below market. Additionally, the main ground floor lobby was dated and needed to be addressed.

SOLUTION

  1. Institute a common area upgrade program to coincide with the lease renewals of the larger tenants
  2. Develop a marketing approach for the property and create an incentive program for participating brokers
  3. Reduce the operating costs of the property to be more competitive

OUTCOME

Through aggressive marketing we were able to raise our rental rate to $22.50 per square foot. The main floor lobby, entrance and washrooms were renovated as well as the upgrading of HVAC cooling tower to a multi-stack system in pursuit of a BOMA BESt designation.

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