Case Study # 112 - Industrial:
Our client had adjacent vacant suites, and a prospective tenant wanted to sign a long-term lease for both. The tenant was expanding operations requiring the full build-out to be completed in less than eight weeks.
Acting as the Property Owner’s fiduciary partner, JCAT coordinated with the architect to define the scope of work, vetted the subcontractors capable of meeting the accelerated schedule, and expedited municipal inspections.
JCAT was on-site everyday providing real-time progress updates to both the client and the tenant. This fiduciary approach between JCAT and the Property Owner delivered a challenging project on-time and on budget. Based on industry experience, the client would likely have paid around a 40% margin for a similar project in the open market and would not have delivered on-time.
JCAT’s client paid closer to a 20% margin. Construction was completed on time. The property manager was not required to liaison between stakeholders. The tenant took possession and rent commenced according to the original lease terms.
