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Originally Posted by bomberjet
I was meaning moving the head office elsewhere. Why would they renovate, then move the head office?
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Quote:
Originally Posted by DowntownBooster
Do renovations really matter in the corporate world? Wasn't the basement in the downtown Bay store renovated for Zellers only to have it closed up after the chain was sold by the Bay? Wasn't the large Target store by Polo Park only open for a few months when it was announced by Target that they were pulling out of Canada? Renovations/construction projects can sometimes mean very little when business transactions like those occur leaving us scratching our heads.
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Quote:
Originally Posted by Danny D Oh
You're right.
In GWL's case they are sitting on prime real estate that easily outstrips any investment in renos. The renos are also a sunk cost, they are done and gone. Wouldn't impact decision-making.
Aside from moving HQ cities you never know if a sweetheart deal might come along to lease a bunch of floors in an existing or new downtown office tower that could result in some movement too.
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1. Opportunity knocks. Or crisis strikes. If you have to or really want to move, and your lease somehow doesn't crush you for moving prematurely, why not? Especially if these renos are self-initiate mid term in the lease... if a better situation arises, take it.
2. Target is a bad example. As for Zellers (or any other tenant) it's obviously nornmal to renovate a space to your needs. Sometimes it results in more business, and sometimes it makes a space more functional and hopefully, subjectively more productive. Why try to maximize natural light on the 30th floor when you can work in a basement?
Additionally, landlords often pinch in for a substantial portion of the renovation work if you're moving into their building.
3. Bingo on Danny's post.