Lease Extension Leads to Immense Rent Savings

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Growing Client Seeks Attractive Lease Terms

Keyera Corp. is one of Canada's largest independent midstream energy companies and has been a Colliers client since 1998. Over the years, Keyera’s space had grown to over 100,000 square feet in Sun Life Plaza, with Colliers helping the company with numerous expansions and lease extensions. In 2015, Colliers International Calgary began discussions with Keyera regarding its 2018 lease expiry. With Keyera being one of the largest tenants in Sun Life Plaza, there was a good opportunity to leverage the landlord’s lease exposure, the current soft office market conditions and Keyera’s size to secure attractive lease terms.

Client Receives Exceptional Deal

Colliers International Calgary’s Jim Rea and Todd Sutcliffe was able to finalize a 10-year lease extension that included significant upfront rent reductions, a large cash inducement and attractive expansion rights to facilitate Keyera’s ongoing growth. Congratulations Keyera Corp. for securing a space with a rental cost lower than what it had been over the previous 13 years.

 

Sun Life Plaza, Calgary AB