New Strongco location expected to save more than $9M
June 1, 2018
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Strongco Corporation announced today that it will be leaving its 205 McAlpine Cres. location and moving to 310 MacKenzie Blvd. effective July 1.
The new branch will also be located in Fort McMurray, Alta.
“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.”
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.
Strongco Corporation is a major multiline mobile equipment dealer with operations across Canada, which sells, rents and services equipment used in construction, infrastructure, mining, oil and gas, utilities, municipalities, waste management and forestry.