Imagine this: you find your business client a great place, at a great location, at a below market rate. Your client poured money into tenant improvements because they plan to stay there forever. And why wouldn’t they? The rent is so cheap and the location is great! But, we all know that if it’s too good to be true…
Just after your client does a full launch of his business, the landlord’s lender tells him that his lease is terminated and he is evicted.
Do they have the right? Does your client have to leave?
City hall is hoping to finally start renovation work on the Guelph Central Train Station this spring, four years after opening the central bus and train station on Carden Street in May of 2012.
The city announced Friday that it was releasing a tender for a general contractor to start renovation work at the historic train station, which used to be owned by VIA Rail and is now owned by the city.
“The renovation to Guelph Central Station will improve our city’s intermodal transportation hub by creating a shared space for Guelph Transit, Greyhound Canada, GO Transit and VIA Rail services that’s accessible and convenient for all riders,” Mario Petricevic, the city’s general manager of facilities management, said in a news release.
The Region of Waterloo, which includes the twin cities of Kitchener and Waterloo in Southwestern Ontario, plans to build a $43 million dollar transit center to connect with the city’s new ION LRT line, currently under construction.
Council recently voted to proceed with a design-bid-build process, and to contact the provincial agency Infrastructure Ontario to assist with procurement. The cost includes the cost of transit infrastructure, procurement and parking. The Region is seeking funding from the provincial and/or federal governments before the project receives the green light.
The center will be located on the southeast quadrant of King Street (Kitchener-Waterloo’s main north-south street) and the former CN Toronto-London Guelph Subdivision. This line is currently used by VIA trains and two weekday GO Transit rush hour runs, which will soon be increased to four. Apart from the LRT, GO and VIA trains, Grand River transit buses, the local operator of city routes, will use the center.
NAI Park Capital recently represented the Tenant, 12 Gage Customs Limited, in leasing 12,680 square feet of industrial and office space located at 45 Massey Rd., Guelph, Ontario. This represents the doubling space for one of its Guelph locations. 12 Gage Customs Limited currently has two locations in the Northwest Industrial Area of Guelph.
Michael Merker, CCIM represented the Tenant in the transaction. Read Capital Realty Corp. represented the Landlord.
Guelph, ON: NAI Global, the world’s largest, most powerful network of owner-operated commercial real estate firms, earned the fourth spot in the 2016 Lipsey Survey of Top 25 Commercial Real Estate Brands. The survey was conducted among 100,000 commercial real estate professionals using a combination of ballot voting, phone interviews and focus groups to evaluate innovation, responsiveness and quality of service. NAI Global is the only commercial real estate network of independently owned and operated firms represented among the top five. NAI Commercial based in Canada is a Member of NAI Global, serving across Canada.
The survey is conducted by The Lipsey Company, a leading training and consulting firm specializing in the commercial real estate industry. The 2016 survey results can be found here: VIEW RESULTS
About NAI Global
NAI Global is the single largest, most powerful global network of owner-operated commercial real estate brokerage firms. NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services. NAI Global Member firms, leaders in their local markets, are actively managed to work in unison and provide clients with exceptional solutions to their commercial real estate needs. Founded in 1978, today NAI Global has more than 375 offices strategically located throughout North America, Latin America, Europe and Asia Pacific, with over 6,700 local market professionals, managing over 380 million square feet of property. Supported by the central resources of the NAI Global network, Member firms deliver market-leading services locally and combine their in-market strengths to form a powerful bond of insights and execution for clients with multi-market challenges
Welcome to NAI Park Capital’s Blog!
Thank you for visiting our blog! Here, we will be posting articles that we hope will be of interest to you. You will be able to find information about what we at NAI Park Capital are up to, as well as information affecting commercial real estate in southwestern Ontario.
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