Glenridge Rebuild/Upgrade Example

Start with a neglected property with low appraisal value, businesses that are only surviving because they are paying below market rent rates that do not pay for all the property needs and turn it around...go. 

 

Phase one was to turn a struggling no name gas station around into a strong anchor tenant by committing funds needed to attract Petro Canada. With this upgrade complete pitch the property to and win Subway as a second strong anchor tenant. Now invest in cleaning up the South face of the plaza including a new fa├žade, realigning interior walls to create new suites and clean up those suites to attract strong tenants. With this done we now have a Cleaners, Dentist, Pizza Place and Asian themed restaurant on the South face with another tenant arriving in the new year. The next phase for Glenridge is to develop the lower level at the back to complete the 360 degree original vision. This phase will be implemented in 2014 and is attracting strong tenants. To date we have almost tripled the property value in the past 6 years.

Martindale Conversion Example

Do you have a property for sale?

 

If you have a property for sale that you would like to submit to us for review please email your listing or info packet to Info@DevelopSmart.ca . We are happy to review your listing to see if your property is a good match for Develop Smart INC.  

Always Looking

Start with an opportunity to buy 2 overpriced condo units (one of which is an illegal unit) in an up and coming area...go. 

 

The only way a project like this can work is to attract a very strong franchise tenant. A tenant that can pay substantially higher rent because they share your vision for the potential in the property. 

We made Martindale a success by selling our vision to Starbucks and offering them solutions to their problems. But a Starbucks alone could not support

this property. We also needed to attract a second tenant to deal with the fact that Starbucks only wanted half of the square footage that was available. First we had to sell our vision not only to Starbucks but to the Condo Corp. For our vision to work we needed to convert the existing parking lot into a drive thru for Starbucks. Not only did we do this but we actually added parking spaces with our creative design. The conversion also included realigning the interior walls to create 2 new suites that suited both tenants needs. New mechanicals, plumbing, electrical, walls, doors & glass, lighting and roof were all part of the conversion process.  Now we have 2 thriving tenants and have lifted the profile of the entire Condo Corp to the point that other strong anchor tenants are coming onboard. The result...these 2 condo units have doubled in valuation.