372 Bay Street The GoalCB Richard Ellis was given the assignment to lease the difficult areas of 372 Bay Street. In addition to the challenge of leasing over 19,600 SF in a down market, the task to secure full floor tenants in a "small" tenant market was presented. With a number of existing tenants going bankrupt, the CB Richard Ellis leasing team had to change the concept of "any tenant will do" within the brokerage community.
The building offered certain advantages such as: smaller floor plates, unique renovations with loft ceilings, internet fibre connectivity and location, that added value to the marketing mix.
The ResultBy implementing above average NER's for improved suites and critical covenants, the CB Richard Ellis leasing team was able to lease over 30,000 SF in a soft market.
Persistence pays off!