Pickering Lastman’s Bad Boy Distribution Centre | 12.19m | 1s | Lastman's Bad Boy

jje1000 said:
The company is gone now though?

I guess SmartCentres will need to find a new tenant.
Click to expand...
The building was complete months ago before they declared bankruptcy. They occupied it (the office's) for a few months and now it's empty.
Not sure what SmartCentres has to do with it?
 
The company is gone now though?

I guess SmartCentres will need to find a new tenant.

Isotack said:
The building was complete months ago before they declared bankruptcy. They occupied it (the office's) for a few months and now it's empty.
Not sure what SmartCentres has to do with it?
Click to expand...


1. SmartCentres owns the building - SmartCentres was the original developer on behalf of their signed tenant Bad Boy.

2. My understanding - at the SmartCentres first quarter results conference call in April, the SmartCentres CEO, Mitchell Goldhar, said that they had already signed a new tenant for the building at a much higher rate than Bad Boy had been paying.

Obviously warehouse rates had moved up substantially between the time Bad Boy had originally signed their lease, the building had been constructed, and the time of the bankruptcy. Presumably the new tenant is finishing up their existing least before starting their new lease and occupancy of the building.
 
There are rumours that Coca-Cola is eyeing Pickering’s innovation corridor, wonder if they’re the ones taking over this building.
 
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