Strongco announces move to new facility
June 1, 2018 - Strongco Corporation has announced that it has reached an agreement to terminate the lease of its branch at 205 McAlpine Crescent in Fort McMurray, Alberta, effective July 1, 2018, and has entered into a separate agreement to sublet a smaller building at 310 MacKenzie Boulevard as its new branch in Fort McMurray. The total cost for termination of the existing lease plus real estate fees, legal fees and relocation costs is anticipated to be approximately $3 million. The net savings from exiting the current leased facility in favour of the smaller sublet facility are expected to exceed $9 million.
“While there will be upfront costs to terminate our current property lease and relocate, the savings over the remaining 11-year term of the current lease are substantial,” said Robert Beutel, Executive Chairman of Strongco. “The new facility will enable us to more efficiently provide exceptional service to our customers in the region.”
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