206 Saunders Rd, Barrie
Buying property in another country can be stressful. When a US-based company came to Maven by way of a referral from local banker and trusted advisor, David Brophey, the market was highly competitive. Facing a 0.7% vacancy rate for commercial properties, they were open to acquiring space for lease or for purchase.
Maven’s market knowledge positioned the client for success, educating the client on the complete industrial real estate inventory and market activity. They worked with the local banker to ensure that adequate financing was in place.
With their headquarters in the US, the client needed to know what to expect when it came to the process of closing on a Canadian property. There are subtle differences between the two countries when it comes to real estate processes, and each step of the way was explained. Educating all clients is a priority at Maven Commercial Real Estate.
Stephanie May got to work generating opportunities to introduce the client to multiple potential properties. Leasing was as competitive as purchasing at the time, and while multiple legitimate attempts were made to secure spaces, the client’s bids were initially passed over.
At last, a property became available for purchase that offered excellent growth potential. It featured a building in terrific condition that was well laid out, with just the right features for the client. Stephanie highlighted the multiple reasons why the clients’ ownership team should pursue acquisition of this property, and what it would take to secure it.
Due diligence is a vital part of the Maven process, and the client relied on keen insights and recommendations regarding the full spectrum of professional advisors required to facilitate a successful transaction. While the financing market had shifted significantly since the deal’s inception, Maven helped the client remain objective and confident.
The clients’ ownership team was thrilled by the outcome made possible by Maven’s team and wrote, “Stephanie and the entire Maven Commercial Real Estate team were the trusted anchor point throughout our relocation process. Being on a growth trajectory, there are many factors to consider and being a global company, there were many Canadian nuances for us to become familiar with. So, we appreciated the vantage point the team was able to impart to us to allow us to confidently pursue and secure all the necessities for our distribution operation.”
At Maven, educating the client about market realities and best steps is a vital part of the success formula. Great advice flows from valuable information. If a business seeks to expand into Canada, our expertise is deeply valued.