Behind the Deal - Town of Caledon Case Study
TRANSACTION TYPE & DETAILS
Date: July 2018
Transaction Type: Lease
Property Type: Office
Size: 5,000 SF
Price: $364,285 USD
Amazon was seeking a footprint of approximately 1 million square feet within the Greater Toronto Area but were faced with an extremely constrained land supply that would meet their demands for a building completion in summer 2019.
- 1.15 million square feet design build
- 1,500 associate parking stalls
- 15 year lease term
- Largest building of its kind in the town of Caledon
- Largest spec project in Canada in 2018
Since Koramangala is a start-up hub for new companies as well as VC-funded companies, available spaces tend to lease very quickly, amidst a high-demand, low-supply market. In this environment, negotiations can be challenging.
- "GR Icon" is a new building, located in the heart of Koramangala with all other facilities and conveniences within reach.
- Fortunately, many of the expansions have been able to be accomodated while the client is in the building.
- In the near future, the client will occupy the entire, five-floor, 25,000 square foot building.
PARTICIPANTS & INFORMATION PROVIDED BY
Rajendra Prasad R K, SIOR
Michael Maroon, SIOR