Property:                              Yorkville Commercial Building ​

Date of Construction:       1962​

Style:                                     8-storey Office Building​

Date of Appointment:      Strategic Property Management commenced services in June of 1997​

Accomplishments:            Below is a list of accomplishments for Strategic Property Management​

 

1. Occupancy Rate & Tenant Retention:​

We took over the building when it had a meager 40% occupancy rate. Within two years of our appointment, we achieved an impressive 78% occupancy rate. To attract new tenants, we analyzed market trends to identify our target demographics and tailored our leasing approach to the match their preferences.

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​2. Financial Performance:​

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A thorough review of building operations revealed that the previous owner had over-paid Bell Canada by $5,500 over the 3 years prior. A refund was obtained from Bell in favour of our client.

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We successfully negotiated a $1.00 purchase of the computerized security system with no future lease payments. The building security system, which originally cost $20,000 in 1990, had been paid for threefold ($60K) through ongoing lease payments. 

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​3. Sustainability Initiatives:​

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A relamping of all stairways, corridors, lobbies, and exterior building areas with energy efficient lighting yielded energy savings averaging 15% below the last 4 years while at the same time improving the property’s aesthetic value and security.  The payback period was 8 months.

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​4. Project Management:​

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Assisted in the demolition of the building. We coordinated the vacancies of all tenants by triggering the demolition clauses in each lease; and processed all invoices from PCL Construction, the demolition company.

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Supervised the construction of a 47-storey condominium building in the Yorkville neighbourhood. We estimated profit margins by calculating the selling prices of the condominium units and comparing them to projected construction costs.​​​​