Colliers Montreal Office Helps Elopak Secure 20-Year Lease at Build-to-Suit Facility
Elopak’s manufacturing facility had become functionally obsolete. The cost of updating it did not make financial sense. Plus doing so would not accommodate the new processes Elopak was bringing to the market.
Elopak then contacted Norman S. Laff, after having come across his name online, and expressed their desire to explore the possibility of moving to a facility ideally located in the East End of Montreal. The team’s initial search in the East End didn’t result in any suitable spaces. Neither did their extended search into the West End.
The main problem was that the cost of modifying an existing building to suit Elopak’s needs was much higher than expected. So the client decided to extend their geographical parameters to include Laval, the North Shore and the South Shore, and began working with Group Montoni on a build-to-suit option as the cost of building their own facility would ultimately be the least costly option.
The resulting facility, which Elopak has leased for 20 years, measures approximately 306,000 square feet including an expansion option should Elopak ever require additional space. The actual building, which will be move-in ready later this year, will house the latest packaging technology, with the end goal of earning LEED® certification within the next year.