5000 Yonge Street The Goal In March 2003, CB Richard Ellis was given the assignment by Menkes Developments to lease approximately 250,000 SF in a softening market. The building was completed in January, 2005 and it was important to lease the vacant space with net rental rates above $20.00 psf for valuation purposes.
The leasing advantages offered large floor plates with new, premium quality, best of class sightlines with top floor available. However, with disadvantages related to a parking ratio of 1:1000 and not directly connected to the subway plus a very difficult lease market created a challenge for the CB Richard Ellis team.
The ResultCB Richard Ellis, with its proactive leasing team headed by Jeff Friedman, was able to lease over 160,000 SF in the first three months of 2005. The team to offered creative leasing deal structures, enticing large requirements by clients such as Cadbury Adams Canada inc. and Aegon Canada (Transamerica), and Franklin Templeton.
REX AWARD WINNER