taal
Senior Member
Some interesting new from their Q3 results:
http://www.alliedreit.com/documents/APREIT_2012_11_12_Q_Report_Q3_2012.pdf
http://www.alliedreit.com/documents/APREIT_2012_11_12_Q_Report_Q3_2012.pdf
We’ve entered into a nonbinding letter of intent with a US-based organization for approximately 50,000 square feet of space comprising two floors of the new component for a term of 10 years commencing in the second quarter of 2015 at net rental rates that escalate at three intervals over the term. The letter of intent is conditional upon finalization and execution of a formal lease document, which we expect to occur by late November or early December of this year. The tenant will be the Canadian head office of the US-based organization and, as such, will qualify for the IMIT grant available to head office tenants in newly constructed office buildings in Toronto. We’re also in discussion with five prospective tenants having requirements between 50,000 and 100,000 square feet.