3,000,000 sq. ft.
L3, one of the world’s leading aviation and defense companies, occupied 237,115 SF in 3 buildings with a headcount projected to increase from 741 full-time employees to 1,639 full-time employees in a 5-year period. They turned to Cresa for help identifying a new location that would allow for consolidation and an unobstructed line of sight for camera testing.
After a thorough market assessment, our team was able to identify both the developer and the land that would accommodate the 300,000 SF build-to-suit facility with a total project budget in excess of $130 million CAD. Once the Letter of Intent (LOI) was executed, and amidst lease negotiations, the developer lost its financing.